FOR IMMEDIATE RELEASE:
(Elmsford, NY) December 21, 2017 – DLC Management Corporation, a national owner and operator of open-air shopping centers, is pleased to announce its acquisition of The Village at Allen, a premier regional power and lifestyle center located in the affluent Dallas suburb of Allen, Texas. The property is the largest single asset in DLC’s expanding portfolio, sporting over one million square feet of leasable space. Further enhancing DLC’s growth in the booming mixed-use category and more notably represents the largest retail real estate acquisition in the State of Texas this year.
With an already strong presence throughout the Northeast, Southeast and Midwestern United States, this acquisition signifies the real estate firm’s expansion westward with its second property in the #1 job market in the nation – Dallas/Ft. Worth which has led the United States in job growth with a 3.9% year-over-year increase in employment. The suburban town of Allen, TX, has recently been ranked #2 in the nation in Money Magazine’s 2017 “Best Places To Live” issue.
The sizable lifestyle village sits on a 371 acre mixed-use site that combines several components including retail, hospitality, and entertainment options featuring some of the area’s most popular attractions including TopGolf and the Allen Event Center. The “Village” boasts strong anchor tenants such as a recently renovated Super Target, Dick’s Sporting Goods, Cabela’s, Ross, TJMaxx / HomeGoods, Best Buy, PetSmart and Pier 1 Imports, and a recently delivered build-to-suit Total Wine & More. It also features popular dining destinations such as BJ’s Restaurant & Brewhouse, Bar Louie, Bonefish Grill, In-N-Out Burger and Freshii.
The Village at Allen provides an exciting opportunity for DLC to further revitalize the destination-oriented retail, dining, and entertainment location. “We are thrilled to bring our growth trajectory to Dallas, Texas. Along with the acquisition, we are opening our fifth regional office to fuel our expansion in Texas and the Southwest,” said Adam W. Ifshin, Chief Executive Officer, DLC.
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, Chicago and Washington, DC. For additional information about DLC Management Corporation and its portfolio, please visit www.dlcmgmt.com.
Rashawn Jackson, Director of Marketing
Chris Ressa, Senior Vice President of Leasing