A joint venture between DRA Advisors and DLC Management Corp. has acquired Shadow Lake Towne Center, a dominant super-regional open-air retail center located in the high-growth Omaha metro area for $95 million.
Shadow Lake Towne Center is positioned at 7775 Olson Drive at the southwest corner of Highway 370 and 72nd Street, a high-traffic intersection with 47,215 combined vehicles per day.
The 640,327-square-foot retail center spans 83.5 acres and is currently 89 percent occupied. The property features a strong tenant mix anchored by Dick's Sporting Goods, J.C. Penney, TJ Maxx, Burlington, HomeGoods, Michaels and Ross Dress for Less, along with a non-owned adjacent Hy-Vee grocery store.
JLL represented the seller, PREP Property Group.
