DLC MANAGEMENT CORP. AND THE RETAIL CONNECTION, L.P. ANNOUNCE 48,500 SF ASSET ACQUISITION AND REDEVELOPMENT IN DALLAS, TX
(Elmsford, NY) July 27, 2021 – DLC Management Corporation, a national owner and operator of open-air shopping centers, in a joint venture with The Retail Connection, (“TRC”), a prominent Texas-based retail real estate company specializing in brokerage, advisory, investment and management services, are pleased to announce their partnership and acquisition of a 48,500 square foot building in East Dallas.
This acquisition unifies the property with the neighboring DLC-owned and operated inline shopping center Whiterock Marketplace and sets the tone for success. In conjunction, both companies have revealed plans to redevelop and add to the retailer mix of the center. The acquired asset was 100% preleased before closing. The outparcel building, which was formally occupied by Shoppers World, will now become home to repeat DLC and TRC clients, a 27,500 square foot Burlington store and a 19,000 square foot Planet Fitness, in addition to a 2,000 square foot Flaming Burger.
With an expanding national portfolio, Burlington brings with it a first-rate off-price department store experience to an eager consumer base in Dallas. With an already strong retail mix that includes the likes of The Home Depot, Marshalls, HomeGoods, Ross Dress For Less, Five Below and Spectrum, Whiterock Marketplace has now established a sustainable retail footprint for decades to come. One 22,300 square foot junior anchor opportunity, select inline spaces and outparcel opportunities remain.
“Over the past 20 years, we have acquired, redeveloped and expanded Whiterock Marketplace. With this acquisition, we’ve cemented it as the dominant Class A multi-anchor power center in this part of the Dallas MSA,” said Adam Ifshin, CEO of DLC.
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.
“We are excited to partner with DLC on our first retail investment together. Consistent with our eighteen-year history, White Rock Marketplace will add another irreplaceable retail property to our Southwest portfolio,” said Alan Shor, Co-founder and President of TRC.
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.
Leasing Contact:
Travis Farren, Vice President, Leasing
Investor Contact:
Jonathan Wigser, Executive Vice President & Chief Investment Officer
About The Retail Connection
The Retail Connection provides tenant representation, project leasing, general brokerage, surplus property dispositions, expansion strategy, merchandising plans, retail operations, acquisition, development, strategic capital, merchant banking, property management, asset management, construction management, marketing, and corporate services. The Retail Connection currently represents over 300 retail and restaurant chains plus over 30 million square feet of listings, including over 5 million SF of its own shopping centers. The company is headquartered in Dallas, with offices in Austin, Houston, and San Antonio. Additional information on The Retail Connection is available at www.theretailconnection.net.
Leasing Contact:
Chris Gibbons, Senior Vice President, Leasing
cgibbons@theretailconnection.net
Investor Contact:
Clay Pickering, Vice President, Finance / Investments
cpickering@theretailconnection.net
