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MCCALLA, AL-DLC Management Corp. has paid $12.6 million for ownership rights to the Shoppes at Letson Farms in the southwest Birmingham, AL area. The buyer acquired the 95,092-square-foot retail center from Centro Properties Group.

Shoppes at Letson Farms is situated on just under 16 anchors at 4750 Eastern Valley Rd. near Interstates 459 and 20. The center was built between 2002 and 2004 and is 95% leased. The anchor tenant is Food World Food & Pharmacy, which has a triple-net, long-term lease. Other tenants include Movie Gallery, H&R Block, Subway, and Curves. The remaining tenants are local and regional entities.

Holliday Fenoglio Fowler senior managing director C. Whitney Knoll and managing director H. Bradley Peterson, both from the Atlanta, GA office, represented the Australian-based seller. More information about the transaction will be available in a future article.

DLC Management, headquartered in Tarrytown, NY, owns four other retail centers in Alabama. According to the company’s website, it owns the 241,633-square-foot Florence Square in Florence; the 132,734-square-foot Centre at Riverchase in Birmingham; the 94,712-square-foot Gulfdale Plaza in Mobile and the 79,240-square-foot Shields Plaza in Huntsville.

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