DLC Management Signs 100,000 SF in Leases

TARRYTOWN, NY-Shopping center owner DLC Management Corp. has signed new lease deals totaling more than 100,000 sf of space at properties in four states. The company has acquired 11 shopping centers this month and launched a new development team.

Commenting on its latest lease activity, Adam Ifshin, president of DLC, says, "With an active year of acquiring quality assets in established growth markets, our leasing team has strengthened its relationships with the nation's most dominant and hottest retailers. Our integrated construction, development and property management teams combine for a quick and simple transition process for any size retailer."

The largest transaction was with Dick's Sporting Goods, which inked a 10-year lease for 45,000 sf at the University Place Shopping Center in Carbondale, IL. DLC Management will develop the space in-house and the store is expected to open in the fall of 2007. This is the second Dick's Sporting Goods within the DLC portfolio, company officials say. The University Place Shopping Center is co-anchored by Best Buy, Petco, Shoe Carnival and Barnes & Noble.

At its Century Square Shopping Center in West Mifflin, PA, national sports outfitter Dunham's Sports is moving from its 18,000-sf store at the center to a new 28,000-sf space. The retailer expects to open its new location in the spring of 2007. Century Square is co-anchored by Dollar Tree, Levin Furniture, Office Depot, Shop N Save, PetSmart and Carmike Cinemas.

In a seven-year lease deal, Steve & Barry's has signed a new 24,000-sf lease at DLC's Fort Steuben Mall in Steubenville, OH. The shoe retailer celebrated the grand opening of its new store earlier this month. Other national tenants at Fort Steuben Mall include Macy's, Wal-Mart Super Center, Sears, JC Penney, Bath & Body Works, PacSun and Dick's Sporting Goods.

And in its local deal, children's fashion retailer Justice Just for Girls has signed a 10-year lease at Spring Valley Marketplace in Rockland County, where it will occupy 3,667 sf. The deal brings Spring Valley Marketplace to 100% occupancy. DLC acquired Spring Valley in 1999 and has since revitalized the center that now includes Target, TJ Maxx, David's Bridal, Christmas Tree Shops, Bed Bath & Beyond, Michaels Arts & Crafts and Sleepy's.