Updated Dec 4, 2024
DLC Management Corp. And DRA Advisors Acquire $100M Retail Portfolio In Four States
141 Tuckahoe Road, 15400 East Briarwood Circle, 55 Meadow Park Avenue & 250 North Lee Boulevard
$100,000,000
$32/SF
Building Size
764,817 SF
Asset Type
Retail
Closing
Nov 20, 2023
About this deal
AI
DLC Management Corp. and DRA Advisors have acquired a $100 million, 764,817-square-foot shopping center portfolio from ShopCore Properties. The portfolio consists of four open-air assets located in Sewell, New Jersey; Aurora, Colorado; Columbus, Ohio; and Prescott, Arizona. The assets feature tenants such as Target, Marshalls, HomeGoods, and Trader Joe's.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $100,000,000
- Square Footage: 764,817
- Price per Square Foot: $131
- Address: 141 Tuckahoe Road, 15400 East Briarwood Circle, 55 Meadow Park Avenue, and 250 North Lee Boulevard
- Market: Sewell, New Jersey; Aurora, Colorado; Columbus, Ohio; Prescott, Arizona
The buyer of the portfolio is DLC Management Corp., represented by Adam Ifshin, and DRA Advisors, represented by David Luski. The seller is ShopCore Properties, with Marc Ricks acting as their representative.
On the Map
$100,000,000
$32/SF
Retail
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Players
Sewell Retail Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.16%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93