www.marejournal.com S hopping C enters Largest acquisition in firm’s 25 year history brings DLC’s portfolio to 21.7 million s/f DLC Management Corp. announces acquisition of 16 shopping centers totaling 4.85 million s/f T Buffalo, NY, is a 145,707 s/f retail property positioned in the city of Buffalo’s largest retail trade area. M id A tlantic Real Estate Journal — Shopping Centers — October 28 - November 10, 2016 — 7A
College. • Tops Plaza, Lockport, NY, is a 296,527 s/f retail property. • Walmart Plaza, Olean, NY, is a 469,332 s/f retail property and the dominant shopping center in the Olean market. • Westgate Plaza, Gates, NY, is a 331,866 s/f retail property located near Greater Rochester International Air- port and the corporate head- quarters of Wegman’s. • Williamsville Place, Wil- liamsville, NY, is a 102,792 s/f retail property that serves the community of Williamsville, The center is situated near Center Point Business Park. “This transaction allows us to accelerate key portions of our company’s strategic plan,” Ifshin said. “Growth remains a core part of our ethos – in addition to growing our asset base, we will continue to in- vest in our development plat- form, third party services and our team. This is a watershed moment for our company and I am excited about our future success prospects.” n
ARRYTOWN, NY — DLC Management Corporation (DLC) , a national owner and op- erator of open-air shopping centers, announced the for- mation of a joint venture with DRA Advisors LLC for the acquisition of a shopping center portfolio of 16 proper- ties, consisting of 4.85 million s/f. The portfolio will grow DLC’s owned square footage to approximately 21.7 million s/f – an increase of 26%. The acquisition also increases the value of DLC’s portfolio by approximately 17% to more than $2.7 billion. “The acquisition of this portfolio represents an unpar- alleled growth opportunity for our firm,” said Adam Ifshin , president and CEO, DLC. “It will allow us to deepen our existing relationships and build new ones with national, regional and local retailers.” “We are excited to form this significant joint venture with DLC, a best-in-class retail owner and operator, with this value-add transaction,” WAYNE, NJ — President Chuck Lanyard of The Goldstein Group announced the firm has successfully con- summated the sale of the prop- erty occupied by Blooming- dales Furniture Outlet and Ethan Allen Furniture located at 469-491 Rte. 46 in Wayne. The purchaser was RKRE Investments and the seller was J&J Realty . Executive vice president, Lew Finkelstein , and vice president, CJ Huter , repre- sented both the seller and the buyer in the transaction. “With such strong national tenants, we received a huge amount of interest on this listing,” said Lanyard. “The property is a prime Route 46 retail site with excellent exposure and visibility that’s conveniently located at the intersection of Rte. 23 and Rte. 80. I commend the expertise of
• FreedomPlaza, Rome, NY, is a 182,059 s/f retail property located in Rome’s commercial and retail corridor. • McKinley Mall Outpar- cels, Hamburg, NY, is a 85,000 s/f retail property located near McKinley Mall. • McKi n l ey Mi l es t r i p Center, Hamburg, NY, is a 240,499 s/f retail property located near McKinley Mall. • Mohawk Commons, Nis- kayuna, NY, is a 530,190 s/f retail property in the Sche- nectady market. The center is located near Crossgate Mall and Colonie Center, as well as the corporate headquarters of GERenewable Energy Global. • Thurway Plaza, Cheek- towaga, NY, is a 522,616 s/f retail property. • Tops Plaza, Ithaca, NY, is a 230,817 s/f retail prop- erty located in the heart of Ithaca’s main retail corridor. The center is situated near Cornell University and Ithaca
641,222 s/f retail property located near Arnot Mall. • BJ’s Plaza, Hamburg, NY, is a 175,965 s/f retail property located near McKin- ley Mall. • Brook Highland Plaza, Birmingham, AL, is a 549,466 s/f plaza located in the heart of Birmingham. • Burlington Plaza, Am- herst, NY, is a 179,333 s/f retail property located in Amherst’s between Boulevard Consumer Square, a large power center, and Boulevard Mall, a regional enclosed mall. • Delaware Consumer Square, Buffalo, NY, is a 239,059 s/f retail property. • Elmwood Regal Center,
said Brett Gottlieb , direc- tor of acquisitions, DRA. “We look forward to growing our relationship with DLC in the future.” DLC has plans to re-develop several of the newly acquired centers, further enhancing the value of these assets and their overall portfolio. The company will also open a new satellite office in Buffalo, New York to help facilitate the management of these new properties and provide best in class service to local tenants. The newly obtained port- folio consists of dominant centers in key locations. •Bi g Fl a t s Consume r Square, Big Flats, NY, is a
The Goldstein Group sells two retail properties in Wayne, NJ
Nassimi Realty welcomes Dollar Tree at Airport Village in Coatesville, PA
Dollar Tree at Airport Village shopping center
operating at a one dollar price point. They have signed a lease for an 8,000 s/f space and will bring the center to 90% oc- cupancy. The store opened in mid-September. Daniel Nas- simi said: “We are pleased to have Dollar Tree at our center. Their store will create more options for customers to choose fromwhen shopping at Airport Village.” n
COATESVILLE, PA — Nassimi Realty announced the opening of Dollar Tree at Airport Village shopping cen- ter located in Coatesville, PA. Airport Village is a brand new redevelopment neighborhood center that has gone through a complete “make-over” with a desirable mix of new tenants joining the community. Dollar Tree is a variety store
469-491 Rte. 46
is in the heart of the Rte. 46 Totowa/Wayne New Jersey retail market. Area national retailers include Home Depot, Hobby Lobby, Home Goods, Babies R’ Us, Costco, Toys R’ Us and Marshall’s. Wayne, NJ is located in Passaic County, 20 miles from New York City. n
our fine sales team in bringing this sale to fruition.” The location consists of two freestanding buildings on 3.24 acres. Bloomingdale’s Furniture Outlet occupies 50,000 s/f and Ethan Allen Furniture has 18,000 s/f. It is located near WillowbrookMall and Wayne Town Center and
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