By Jeff Hamann
Donahue Schriber Realty Group has acquired the Diamond Heights Shopping Center, a 75,630-square-foot retail property in San Francisco. The buyer financed its $48 million acquisition with a $24 million mortgage held by TIAA, according to public records. The seller, a locally based activist, publisher and filmmaker, had purchased the property in 1987.
Located at 5214 Diamond Heights Blvd., the retail property sits in the Diamond Heights neighborhood of San Francisco, adjacent to Noe Valley and Glen Park. Interstate 280 is located one mile to the south, and public transportation is available through two nearby bus stops. The shopping center is anchored by Safeway and Walgreens.
Nicholas Bicardo of Newmark Knight Frank represented Donahue Schriber in the transaction, and Preferred Capital Advisors’ Craig Zarro secured the loan on behalf of the new owner. This transaction marks Donahue Schriber’s entry into the San Francisco market; earlier this year, the firm sold a Central Valley shopping center for $6 million.
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