DLC Sells Randhurst Village After Major Redevelopment Push
DLC has sold Randhurst Village following a repositioning effort that included anchor conversions, new retailers, and a dining destination.
DLC, a leading owner and operator of open-air shopping centers based in Elmsford, N.Y., has completed the sale of Randhurst Village, the company announced Sept. 24, 2026. The divestiture follows a broad redevelopment campaign the firm undertook to reposition the property ahead of a potential transaction.
The transformation included converting major anchor spaces, bringing in retailers new to the center, and establishing a local dining destination designed to draw consistent foot traffic and broaden the property's tenant mix. Such strategies have become increasingly common as open-air center operators look to replace traditional anchor tenants lost to retail consolidation with experiential and food-and-beverage uses.
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DLC did not disclose the sale price or the identity of the buyer in its announcement. The company's ability to execute lease-up and physical redevelopment prior to sale is consistent with a value-add investment approach, in which operators acquire or hold assets, improve their income profile, and then exit to capitalize on enhanced valuations.
Randhurst Village's repositioning reflects broader trends reshaping community and power centers across the United States, where landlords are under pressure to diversify away from soft-goods retail toward tenants generating repeat visits. Dining clusters and experiential concepts have emerged as preferred tools for stabilizing open-air assets in competitive suburban markets.
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