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DLC Announces New Joint Venture & Addition of Shoprite to Tri-City Plaza in Vernon, CT

A grocery cart full of fresh vegetables with the ShopRite logo above

(Elmsford, NY) – DLC Management Corporation, a national operator of open-air shopping centers, is thrilled to announce it has recently executed leases with top grocery brand ShopRite Supermarkets and a soon to be announce global credit anchor tenant, to join Tri-City Plaza in Vernon, CT. Additionally, DLC is recapitalizing Tri-City Plaza in a joint venture with Acadia Strategic Opportunity Fund V LLC, an institutional fund focused on delivering long-term, profitable growth.

Both ShopRite (73,762 SF) and the future tenant (27,467 SF) will split a 101,000 SF space formally occupied by Price Chopper. The 300,000 SF shopping center provides the two growing retailers one of the most desirable locations in the trade area. Situated just northeast of Hartford, CT, Tri-City provides easy access directly off Exit 65 on I-84, with high traffic counts that average over 116,000 vehicles passing the center daily.

With an expanding portfolio that stretches northeast from the Washington Metro area to the Hartford area of Connecticut, ShopRite brings with it a first-rate grocery experience to an eager consumer base in Vernon.

Supported by an already strong retail mix, that includes the likes of T.J.Maxx, HomeGoods, Harbor Freight Tools, Staples and Hartford Healthcare along with its now strong financial stability, Tri-City Plaza has established a sustainable retail footprint for decades to come.

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.

Download Press Release Here

Leasing Contact:

Chris Ressa, Executive Vice President & Chief Operating Officer

cressa@dlcmgmt.com

 

Investor Contact:

Jonathan Wigser, Executive Vice President & Chief Investment Officer

jwigser@dlcmgmt.com

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