FOR IMMEDIATE RELEASE:
(Tarrytown, NY) June 1, 2015 – DLC Management Corporation, a national owner and operator of open-air shopping centers, is pleased to announce its acquisition of Randhurst Village, a premier regional power and lifestyle center located in the Chicago metro area’s vibrant community of Mount Prospect. Randhurst Village joins six additional DLC properties in Illinois, further enhancing the real estate firm’s presence in the Chicago market.
The property is now the largest single asset in DLC’s portfolio, boasting over one million square feet of leasable space, continuing DLC’s successful growth in the open-air shopping center sector. Most notably, Randhurst Village is DLC’s first mixed-use development, representing the firm’s foray into the booming category.
Randhurst Village is located in Mount Prospect, an affluent northwest suburb of Chicago. The sizable urban-style village is a thriving redevelopment of the historic Randhurst Mall, featuring strong anchor tenants such as Costco, an upscale AMC Theaters cinema and a top-performing The Home Depot. Other notable tenants include Bed Bath & Beyond, Sports Authority and Petsmart, along with popular dining destinations such as Chipotle, Panera Bread and Five Guys Burgers and Fries. With over-retail office space and a 140-room hotel, Randhurst Village provides an exciting opportunity for DLC to further revitalize the destination-oriented retail, dining, and entertainment location.
“DLC is thrilled to partner with Randhurst Village, Mount Prospect and its surrounding communities, and all of the retailers to achieve our vision of making Randhurst Village the premier open-air shopping venue in the area,” said Adam Ifshin, President and CEO of DLC Management Corp. “As we have in our other recent acquisitions, we will be working day and night to turn our business plan into reality for our largest-ever single property acquisition.”
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, Bethesda and Chicago. For additional information about DLC Management Corporation, please visit www.dlcmgmt.com.
Rashawn Jackson, Director of Marketing
Holly Estler, Sr. Leasing Representative