BATON ROUGE, LA / ACCESS Newswire / August 13, 2025 / DLC, in partnership with DRA Advisors, has acquired Towne Center at Cedar Lodge, a market-dominant, Whole Foods-anchored open-air shopping center in Baton Rouge, Louisiana. The 316,031-square-foot property is 93 percent leased and anchored by a top-performing Whole Foods Market-the No. 2 Whole Foods in the state - alongside national retailers including Barnes & Noble, Nike, Gap, and Ulta Beauty.
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Towne Center at Cedar Lodge recorded over 3.3 million total visits last year, underscoring its status as the best grocery-anchored center in Baton Rouge, the state capital of Louisiana. Strategically located at the high-traffic corner of Jefferson Highway (27,700 VPD) and Corporate Boulevard (22,500 VPD) with access to I-10, I-12, and Airline Highway, the property benefits from strong surrounding demographics and close proximity to Louisiana State University (LSU), home to more than 40,000 students. Towne Center at Cedar Lodge is in the top 10 percent of shopping centers nationwide and in the top 6 percent of shopping centers statewide
"Towne Center at Cedar Lodge is the type of retail asset we target-dominant positioning, high-performing national anchors, and meaningful value-add opportunities," said Adam Ifshin, Founder and CEO of DLC. "Our platform's full range of capabilities, from leasing and marketing to construction and redevelopment, positions us to build on its strong foundation and elevate its performance for years to come."
Immediate upside potential includes lease-up of existing vacancies, mark-to-market renewals, credit enhancement opportunities, and potential backfills. Additionally, a planned 286-unit multifamily development adjacent to the center is expected to further increase foot traffic and long-term value.
"We are excited to expand our relationship with DLC through this strategic acquisition and look forward to working together to unlock the full potential of this asset," said Brett Gottlieb, Senior Managing Director at DRA Advisors. "The property's strong in-place cash flow, combined with meaningful long-term upside, makes it a compelling fit for our investment strategy and underscores our continued conviction in partnering with best-in-class operators like DLC."
"Our team excels at positioning assets for growth," said Chris Ressa, Chief Operating Officer of DLC. "At Towne Center at Cedar Lodge, we have a strong vision for unlocking value through active leasing, mark-to-market opportunities, and creative solutions for repositioning vacancy."
Since December 2023, DLC has closed 11 deals with its co-General Partner, Temerity Strategic Partners, which has committed growth capital to help DLC expand its assets by $2 billion by 2026.
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About DLC
DLC is a preeminent owner and operator of open-air shopping centers across the United States, with a proven track record of delivering value through innovative asset management strategies and strategic acquisitions. For more information, visit www.dlcmgmt.com.
About DRA Advisors
DRA Advisors LLC is a New York-based registered investment advisor with approximately 100 employees that specializes in real estate investment management services for institutional and private investors including pension funds, university endowments, sovereign wealth funds, foundations, and insurance companies. Since DRA's inception in 1986, the firm has opened additional offices in Miami and San Francisco and has acquired over $41 billion of real estate. Its acquisitions include 100 million square feet of industrial, 86,500 multifamily units, 89 million square feet of retail, and 65 million square feet of office. As of December 31, 2024, DRA had $11.1 billion in gross assets under management. http://draadvisors.com
Contact Information
Arlene Kim
Vice President, Marketing
akim@dlcmgmt.com
SOURCE: DLC
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/real-estate/dlc-secures-baton-rouge-trophy-asset-with-acquisition-of-towne-center-at-cedar-lodge-1059717
