29 Jun

DLC Management Corp Announces Deal With Leading Grocer Lidl At Frederick County Square

(Elmsford, NY) – DLC Management Corporation, a national owner and operator of open-air shopping centers, is pleased to announce it has executed a lease with Lidl at Frederick County Square in Frederick, MD. The addition of the expanding international grocer is a continuation of DLC’s value enhancement strategy for the property, one of two Frederick, Maryland open-air retail assets acquired in a joint venture with Acadia Strategic Opportunity Fund V LLC in August 2019.

The center is situated immediately west of the Rt. 15 and W. Patrick Street (Rt. 40 – The Golden Mile), a major interchange in the area. This prime location offers Lidl one of the most desirable locations in the trade area with traffic counts that average over 47,000 vehicles passing the center daily. The grocer will occupy a 27,799 sq. ft. portion of a former Big Kmart box along with Ollie’s Bargain Outlet. Lidl is projected to open in 2021.

“We are thrilled that LIDL is going to help anchor our transformative re-development of Frederick County Square and replace a dated and obsolete K Mart with a new state of the art grocery-anchored line up,” said Adam Ifshin Chief Executive Officer of DLC Management Corp. “This is a perfect example of DLC’s long track record of adaptive reuse in an infill location, and it is our eighth re-development of a center including a defunct K Mart. This is our second new lease with LIDL in 2020 alone. This dynamic grocery partner brings affordable and fresh food to markets that are frequently lacking in cost-effective fresh food options. We continue to partner with LIDL to help them expand from New York to Atlanta in both our shopping center re-development and single tenant net leased new development platforms. They are an exceptional and exciting partner!”

Ranked as a Top-3 grocer by Food & Wine Magazine, Lidl operates more than 11,000 stores and is active in 32 countries, employing around 287,000 employees globally. Lidl offers customers the highest quality fresh produce, meat, bakery items and a wide array of household products at the lowest possible prices. Lidl first established its U.S. headquarters in Arlington County, Virginia, in June 2015, and today sells its award-winning products in more than 100 stores across nine east coast states.

With best in class value creation strategies designed to create win-win scenarios for all stakeholders, DLC remains focused on bringing consumers an expansive selection of high-quality merchants, delivering transformational redevelopments and maximizing the performance of each of its assets.

About DLC Management Corporation

DLC Management Corporation is one of the nation’s preeminent private retail real estate companies, with expertise in acquisitions, new developments, redevelopments, leasing, and management. Headquartered in New York, DLC has regional offices in Atlanta, Buffalo, Chicago, Dallas and Washington, DC. For additional information about DLC Management Corporation and its portfolio, please visit www.dlcmgmt.com.

Leasing Contact:

Adam Greenberg, Vice President, Leasing

agreenberg@dlcmgmt.com

 

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