Crossroads is anchored by regional grocer Strack & Van Til. The 87,000-sf store is averaging $550 per sf, says Daniel Taub, an SVP at DLC.
The acquisition brings DLC's total number of centers in the Midwest to 13, and the company currently has 42 properties here and on the East Coast. "The Midwest is a long-term strategic region for us," Taub says. "We are looking for quality real estate that will stand the test of time."
The company is pursuing all types of centers in the region, not just supermarket-anchored properties. Other Midwestern states DLC has a presence in are Illinois, Michigan, Missouri and Wisconsin. Crossroads is the company's fourth acquisition of the year. DLC has also acquired Torrington (CT) Commons, Tower Shopping Center in Raleigh, NC and West River Shopping Centre in Farmington Hills, MI.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.