DLC, DRA Advisors Acquires Shadow Lake Towne Center Near Omaha, Nebraska, for $95 Million

Papillion, Neb. — A joint venture between DLC Management Corp. and DRA Advisors has acquired Shadow Lake Towne Center, a 640,327-square-foot regional shopping center located in Papillion, a southern suburb of Omaha. Shadow Lake Towne Center spans 83.5 acres and was 89 percent occupied at the time of sale. Tenants include Dick’s Sporting Goods, JCPenney, T.J. Maxx, Burlington, HomeGoods, Michaels and Ross Dress for Less, as well as a Hy-Vee grocery store, which was not included in the sale.

Brian Page and Michael Nieder of JLL Capital Markets represented the seller, PREP Property Group, in the transaction.