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A New York-based owner-operator of open-air shopping centers, DLC, has acquired the Grapevine Crossing shopping center as part of a six-property deal.
The deal covers 1.11 million square feet of gross leasable area, which is around 95% occupied, according to a news release.
The details
Grapevine Crossing is located along Ira E. Woods Avenue in Grapevine and includes anchor tenants Best Buy and Academy Sports.
“These centers are located in strong markets, anchored by great retailers, and already serving their communities at a high level,” said Chris Ressa, DLC’s chief operating officer, in the news release.
The six-property acquisition was funded through DLC’s joint venture relationship with Temerity Strategic Partners, according to the news release.
What else?
The deal also included shopping centers in College Station; San Antonio; Memphis, Tennessee; Charlotte, North Carolina; and Temecula, Georgia, per the news release.
DLC’s portfolio includes nearly 100 open-air shopping centers totaling more than 24 million square feet.
