(Elmsford, NY) January 7, 2022 – DLC Management Corporation, a leading national owner and operator of open-air shopping centers, is pleased to announce its acquisition of Silas Creek Crossing, a 205,498 square foot shopping center in Winston-Salem, NC. The shopping center is well located at one of the busiest intersections in the trade area within the growing Triad Region, with a regional draw that covers the entirety of Winston Salem and beyond. The immediate retail submarket has very favorable demand and supply fundamentals with strong demand drivers.
“Silas Creek Crossing fits with our view at DLC that The Store has Won, and that well-located retail anchored by key DLC retail partners will outperform in the coming cycle. The deal was sourced without significant competition as DLC was able to evidence the ability to go from first exposure to the asset to closing in less than 60 days. Internally capitalized, and able to move quickly, our stellar track record of performance gave the seller comfort, and we executed as always.” said Adam Ifshin, CEO of DLC.
With an already strong retail mix that includes Burlington, Marshalls, and JOANN, Silas Creek Crossing has a well-established and sustainable retail footprint. DLC has seized this acquisition as an opportunity to add value via the lease of vacant spaces and an available outparcel.
Burlington took over a former Toys R’ Us space and opened in 2019, bringing a first-rate off-price department store experience to an eager consumer base. Marshalls is a very strong performer and has been at the center for over 30 years. JOANN is an in-market relocation and will backfill a former AC Moore.
With best-in-class value creation strategies designed to create win-win scenarios for all stakeholders, DLC is focused on bringing consumers an expansive selection of high-quality merchants, delivering transformational redevelopments and maximizing the performance of each of its shopping centers.
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 Metro New York, DLC has regional operations in Atlanta, Buffalo, Chicago, Dallas, and Washington, DC. For additional information about DLC Management Corporation and its portfolio, please visit www.dlcmgmt.com.
Christopher Ressa, Executive Vice President & Chief Operating Officer
Jonathan Wigser, Executive Vice President & Chief Investment Officer
Aaron Wu, Vice President & Head of Acquisitions