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March 20, 2018
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Donahue Schriber Buys San Francisco Retail Center


Donuhue Schriber recently wrapped up a retail acquisition in San Francisco, having purchased Diamond Heights Shopping Center, a 75.6k sf grocery- and drug-anchored center. The asset was sold by an unidentified private seller. Although the price was not given out, an industry pro we spoke to estimates a value of around $48 mil, which works out to over $600/sf.

Located at 5214-5290 Diamond Heights Blvd, Diamond Heights Shopping Center serves the highly-desirable neighborhoods of Diamond Heights, Noe Valley and Glen Park. The property is anchored by one of the highest-performing Safeway stores in the chain, which has been in operation for more than 50 years at this site. The balance of the property is occupied by daily-needs tenants including Walgreens, Bank of America, and the United States Postal Service.

Nicholas Bicardo, Brandon Rogoff and Bryce Holman with NKF Capital Markets represented the seller in the transaction.This sale marks the first time in nearly 40 years that the center has been available to the investment market. The price was not disclosed.

“The asset’s location, size and rich operational history “checks every box” for both institutional and private investors. Diamond Heights was one of the most sought after grocery-anchored assets on the West Coast in this cycle,” said Bicardo.

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