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LINCOLN, NE-The 2006 shopping spree is through, says Tarrytown, NY-based DLC Management Corp. The national owner and operator of shopping centers closed Nov. 30 on the acquisition of East Park Plaza and Shopper’s Fair, its 19th and final buy of the year. Company officials declined to release the purchase price for the two adjoining shopping centers, but did report that DLC invested about $335 million by acquiring four million sf of retail space this year.

The lull in acquisitions isn’t likely to last long. DLC, which increased its GLA by 30% this year, has committed to continue growing its portfolio in 2007. “We’ve experienced a large volume of transactions this year, and have secured over $500 million for our 2007 pipeline of similar retail properties throughout the country,” Adam Ifshin, president of DLC, says in a statement.

John DeWolfe, a senior leasing agent in DLC’s Chicago office, tells GlobeSt.com that the 212,655-sf East Park Plaza and the 67,073-sf Shopper’s Fair are currently about 88% occupied. DeWolfe, who is marketing the vacant space to regional and national tenants, says the property’s biggest opportunity is a 25,000-sf box that’s been vacant since the enclosed mall was converted into an open-air center. DeWolfe, who recently landed Dick’s Sporting Goods as a 45,000-sf tenant at DLC’s University Place Shopping Center in Carbondale, IL, says that a sporting goods retailer or pet store would be a good fit for the 25,000-sf box. The balance of the remaining space is in the 585-sf to 6,000-sf range.

Located at 66th and O streets, the shopping center is anchored by CVS, Big Lots, Linens ‘n Things, Hancock Fabrics, Russ’s Market and East Park Theatre. DeWolfe says that the center’s proximity to the University of Nebraska and its neighbor the 965,000-sf Westfield Gateway Mall made East Park Plaza and Shopper’s Fair an attractive buy for DLC. The company owns retail properties in other college towns, including Dekalb, IL, and Carbondale, IL. In Dekalb, home of Northern Illinois University, DLC owns the 297,438-sf Northland Plaza. Meanwhile, University Place, the 249,561-sf shopping center where the new Dick’s Sporting Goods is scheduled to open in 2007, shares its home with Southern Illinois University.

DLC, which now owns 69 shopping centers totaling 14 million sf, purchased 10 other properties in November. Those buys include nine shopping centers totaling more than one million sf in four Southern states purchased from Edens & Avant, as well as the 415,737-sf Akers Center in Gastonia, NC.

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