DLC expands in Maryland with two acquisitions
DLC Management, a leading owner and operator of open-air shopping centers, has purchased two centers in Frederick, Md., a town situated within 40 miles of both Baltimore and Washington, D.C.
The 295,000-sq.-ft. Frederick Crossing and the 227,000-sq.-ft. Frederick County Square increase DLC’s retail square footage in the Mid-Atlantic region by 19%, to 3.27 million sq. ft.
“The acquisition of these retail assets provides us with a great opportunity to further expand in the Mid-Atlantic, a region where we’ve had a lot of success,” said Adam Ifshin, CEO of DLC.
The acquisition is DLC’s second joint venture with Acadia Strategic Opportunity Fund V, the other being the recapitalization of Tri-City Plaza in Vernon, Conn.
Tenants at the two Frederick centers include Best Buy, Ulta Beauty, Ross, Kohl’s, Dollar Tree, Jo-Ann Fabrics, Advance Auto Parts, Sally Beauty, Game Stop and Five Below.
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