X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

SCHERERVILLE, IN-DLC Management Corp. has acquired a 152,000-sf grocery-anchored center here called the Crossroads Shopping Center for $19 million. The Tarrytown, NY-based company bought the store from Rosewood Property Co. of Dallas.

Crossroads is anchored by regional grocer Strack & Van Til. The 87,000-sf store is averaging $550 per sf, says Daniel Taub, an SVP at DLC.

The acquisition brings DLC’s total number of centers in the Midwest to 13, and the company currently has 42 properties here and on the East Coast. “The Midwest is a long-term strategic region for us,” Taub says. “We are looking for quality real estate that will stand the test of time.”

The company is pursuing all types of centers in the region, not just supermarket-anchored properties. Other Midwestern states DLC has a presence in are Illinois, Michigan, Missouri and Wisconsin. Crossroads is the company’s fourth acquisition of the year. DLC has also acquired Torrington (CT) Commons, Tower Shopping Center in Raleigh, NC and West River Shopping Centre in Farmington Hills, MI.

An Aug. 30 DLC officials announced a strategic alliance of GL Blackstone & Associates of Mount Vernon, NY. The venture, called DLC UrbanCore, plans to develop and renovate free standing retail buildings and shopping centers on the East Coast and Midwest.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt. NET LEASE 2020Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.