DLC chief: Big acquisition means big work ahead

DLC Management Corp.’s joint acquisition of 16 properties with DRA Advisors this month increased the square footage of its portfolio by 26% and its dollar value by 17%. DLC president and CEO Adam Ifshin aims to increase that dollar contribution in the years to come.



“We don’t buy value-add properties and baby-sit them,” he told Chain Store Age. “We come to them with a business plan and ask ourselves ‘How do we add value?’”



Mostly located in Upstate New York, the centers are key players in their markets, fielding tenants like Walmart, Home Depot, Target, Dick’s Sporting Goods, T.J. Maxx, and L.A. Fitness. But Ifshin and his team foresee bigger things for the properties.



“We took a long time in assessing these assets. We had to get comfortable with the markets,” Ifshin said. “We will be doing common area upgrades and all sorts of other work. What DLC does is seek to maximize sales and profitability for everybody involved, to maximize success between us and our retailers.”



The additions to DLC’s portfolio:



Big Flats Consumer Square, Big Flats, NY, 641,222 sq. ft.

BJ's Plaza, Hamburg, NY, 175,965 sq. ft.

Brook Highland Plaza, Birmingham, AL, 549,466 sq. ft.

Burlington Plaza, Amherst, NY, 179,333 sq. ft.

Delaware Consumer Square, Buffalo, NY, 239,059 sq. ft.

Elmwood Regal Center, Buffalo, NY, 145,707 sq. ft.

Freedom Plaza, Rome, NY, 182,059 sf sq. ft.

McKinley Mall Outparcels, Hamburg, NY, 85,000 sq. ft.

McKinley Milestrip Center, Hamburg, NY, 240,499 sq. ft.

Mohawk Commons, Niskayuna, NY, 530,190 sq. ft.

Thruway Plaza, Cheektowaga, NY, 522,616 sq. ft.

Tops Plaza, Ithaca, NY, 230,817 sq. ft.

Tops Plaza, Lockport, NY, 296,527 sq. ft.

Walmart Plaza, Olean, NY, 469,332 sq. ft.

Westgate Plaza, Gates, NY, 331,866 sq. ft.

Williamsville Place, Williamsville, NY, 102,792 sq. ft.

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