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DLC Acquires Plymouth Shopping Center for $86M
DLC, a private owner and operator of open-air retail headquartered in Elmsford, has acquired the Colony Place shopping center in Plymouth, MA, for $86 million. This acquisition marks DLC’s entry into the Boston MSA and its first transaction with Principal Asset Management as an adviser.
“Located midway between Boston and Cape Cod, the center is a trophy asset in the Boston market with no direct comparable shopping centers,” said Adam Ifshin, founder and chief executive officer of DLC. More than 50 stores and restaurants make the center – which is comprised of two phases – a shopping destination in the Plymouth-Kingston trade area. Colony Place is currently 94 percent leased.
Founded in 1991, DLC focuses on leasing, development, asset management, and capital improvements. It’s DLC’s second deal with Temerity Strategic Partners (TSP) since their venture began in December 2023 to double DLC’s portfolio by 2025.
- ◦Sale/Acquisition
