DLC Management Crow Capital Holdings And Temerity Strategic Partners Acquire Retail Property In Wheaton For $61.7M

The transaction involved the acquisition of a retail asset located at 120 Danada Square West in Wheaton, Illinois. The property encompasses 314,800 square feet and was sold for a price of $61,700,000, reflecting a price per square foot of $196. It is a 92%-occupied shopping center that includes anchor tenants such as Jewel Osco, along with other tenants including TJ Maxx and Burlington.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $61,700,000
• Address: 120 Danada Square West
• Market: Wheaton
• Square Footage: 314,800
• Price per Square Foot: $196
• Buyer: Adam Ifshin - DLC Management; Michael Levy - Crow Capital Holdings; Bruce Cohen - Temerity Strategic Partners
• Seller: David Hunt - PGIM
• Broker: Keely Polczynski - JLL

A joint venture involving DLC Management, Crow Capital Holdings, and Temerity Strategic Partners successfully acquired the property from PGIM. The deal drew significant interest, receiving over 15 offers, and DLC Management intends to lease the remaining 23,000 square feet of the shopping center.