DLC Sells Randhurst Village After Major Redevelopment
DLC, a leading owner of open-air shopping centers, has sold the redeveloped Randhurst Village in Mount Prospect, IL. Acquired in 2016, DLC transformed the property through major leasing and redevelopment efforts that included converting anchor spaces into high-performing retail tenants like Costco, The Home Depot, and Macy's. New national retailers such as Skechers and Nike were added to replace weaker concepts, enhancing tenant diversity. A key part of the strategy involved repositioning former Carson Pirie Scott and Bed Bath & Beyond locations with new stores that attract both shoppers and diners. DLC also integrated architectural and construction resources from its affiliates NWS Architects and Renovo Construction for efficient project execution. The sale marks a successful completion of DLC's business plan, demonstrating value creation through active ownership. DLC’s CEO Adam Ifshin emphasized the importance of addressing vacancies and reimagining outdated spaces to drive long-term success at Randhurst Village.
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