DLC Adds West Street Shopping Center Through Off-Market Deal

Leveraging more than 20 years of local market success, DLC acquires a 206,319-square-foot grocery-anchored shopping center, expanding its Keene, NH, portfolio to more than 500,000 square feet.

ELMSFORD, N.Y., Nov. 10, 2026 /PRNewswire/ -- DLC, one of the nation's leading owners and operators of open-air shopping centers, today announced the acquisition of West Street Shopping Center, a 206,319-square-foot grocery-anchored shopping center in Keene, New Hampshire, in a joint venture with Cohen & Steers.

DLC sourced the off-market opportunity leveraging more than 20 years of owning and operating shopping centers in Keene, a regional retail hub anchored by Keene State College, part of the public university system of New Hampshire and ranked among the top 20 schools in the North Region by US News and World Report. DLC actively targets college towns and regional retail hubs where strong demand drivers and deep market knowledge create opportunities for long-term value creation.

West Street features the country's No. 2-performing Hannaford and Hobby Lobby as anchors. Hannaford has operated at the center since 1984. Additional national tenants include Maurices, UPS, AAA, and Tropical Smoothie.

"Our investment strategy is built on identifying opportunities where our experience gives us a competitive advantage," said Adam Ifshin, Founder and CEO of DLC. "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."

With occupancy at 80 percent, West Street offers approximately 40,000 square feet of second-generation retail space, creating an immediate opportunity for DLC to execute its leasing strategy. Through proactive leasing, strategic tenant placement, and active asset management, DLC aims to strengthen the center's performance and drive long-term value.

"Twenty years of successfully operating in Keene gives us a clear understanding of what works in this market," said Chris Ressa, Executive Vice President and Chief Operating Officer of DLC Management Corp. "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."

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. Keene State College, Antioch University, Cheshire Medical Center, and the state's tax-free shopping environment help drive regional retail demand.

The acquisition builds on DLC's ongoing joint venture with Temerity Strategic Partners.

About DLC

DLC is one of the country's leading owners and operators of open-air shopping centers, with more than $4 billion and 24 million square feet in assets under management across 90+ properties. Headquartered in Elmsford, NY, DLC leverages an owner-operator model and a fully integrated platform, including construction and design through Renovo Construction and NWS Architects, to deliver superior performance and value.

About Cohen & Steers

Cohen & Steers is a leading global investment manager specializing in real assets and alternative income, including listed and private real estate, preferred securities, infrastructure, resource equities, commodities, as well as multi-strategy solutions. Founded in 1986, the firm is headquartered in New York City, with offices in London, Dublin, Hong Kong, Tokyo and Singapore.

SOURCE DLC Management Corp.