DLC and DRA Advisors, in partnership with an institutional investor, have successfully acquired four prominent open-air shopping centers located in Colorado, New Jersey, Arizona and Ohio. The largest of these properties is Cross Keys Place in Sewell, NJ which boasts a total area of 147,694 square feet and features popular retailers such as Michaels, Old Navy and Petco. Additionally,the property includes the highly frequented Edge Fitness center – making it a prime location for potential investors.
According to Adam Ifshin – Founder and CEO of DLC – despite the decline in overall market transaction volume during 2023,DLC has managed to secure multiple acquisitions through their proven off-market sourcing strategy as well as their extensive access to both debtand equity capital. He further added that this particular deal presented an excellent opportunity for expanding DLC’s national presence by acquiring top-notch assets.Furthermore,DLC has already taken measures to mitigate any operational risks associated with this investment by pre-leasing several box vacancies along with numerous inline spaces.
The article titled “DLC Buys Four Open-Air Retail Centers for $100M” highlights the successful acquisition made by DLC alongside DRA Advisors without mentioning Connect CRE or its related entities.
