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GlobeSt.com EXCLUSIVE: DLC Buys Midwest Center for $19M

SCERERVILLE, IN-The transaction brings DLC's total number of Midwestern centers to 13, and the company is seeking more. It is DLC's fourth acquisition of the year.

By Ian Ritter | Updated on October 19, 2004

SCHERERVILLE, IN-DLC Management Corp. has acquired a 152,000-sf grocery-anchored center here called the Crossroads Shopping Center for $19 million. The Tarrytown, NY-based company bought the store from Rosewood Property Co. of Dallas.

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.”

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