DLC Sells Randhurst Village After Major Retail Repositioning
DLC completed the sale of Randhurst Village following a redevelopment push that added new retailers and a dining destination.
DLC, a prominent owner and operator of open-air shopping centers based in Elmsford, N.Y., has sold Randhurst Village after executing a comprehensive repositioning strategy at the property, the company announced Thursday.
The transformation involved converting major anchor spaces, bringing in retailers new to the center, and developing a local dining destination designed to drive foot traffic and broaden the property's appeal to the surrounding community.
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The sale marks the conclusion of DLC's value-creation cycle at Randhurst Village, a model the firm has applied across its open-air retail portfolio — acquiring underperforming centers, redeveloping them through leasing activity and physical improvements, and ultimately divesting stabilized assets.
Open-air shopping centers have attracted sustained investor interest in recent years as the format has demonstrated resilience compared with enclosed malls, with grocery anchors, dining, and service tenants helping sustain traffic. DLC's strategy at Randhurst Village reflects broader industry efforts to repurpose legacy anchor space vacated by department stores and big-box retailers.
No financial terms of the transaction were disclosed. Continue reading at All Financial Services & Investing.
