DLC Acquires West Street Shopping Center
DLC acquires West Street Shopping Center, a 206,319-square-foot grocery-anchored shopping center in Keene, New Hampshire.
The off-market acquisition expands DLC’s Keene portfolio to more than 500,000 square feet. West Street is anchored by the country’s No. 2-performing Hannaford and Hobby Lobby. The purchase builds on more than 20 years of DLC owning and operating shopping centers in Keene.
Anchors And Leasing Opportunity
Hannaford has operated at the center since 1984, while other national tenants include Maurices, UPS, AAA, and Tropical Smoothie. With occupancy at 80 percent, West Street offers approximately 40,000 square feet of second-generation retail space. DLC plans to pursue proactive leasing, strategic tenant placement, and active asset management.
Adam Ifshin, Founder and CEO at DLC, said:
“Our investment strategy is built on identifying opportunities where our experience gives us a competitive advantage. We know this market, understand the fundamentals, and see significant upside in this asset. This is the kind of off-market opportunity where our knowledge and operating capabilities will drive meaningful long-term value.”
Keene Market Experience
Located along West Street near the New Hampshire, Vermont, and Massachusetts borders, the property draws from a broad regional trade area. Keene serves as the primary commercial hub for southwestern New Hampshire, with Keene State College, Antioch University, Cheshire Medical Center, and the state’s tax-free shopping environment helping drive regional retail demand.
Chris Ressa, Executive Vice President and Chief Operating Officer at DLC Management Corp., said:
“Twenty years of successfully operating in Keene gives us a clear understanding of what works in this market. We know the retailers, we know the customers, and we know where the demand is. With a dominant grocery anchor driving traffic and significant leasing upside, we put that knowledge to work and drive NOI growth.”
