DLC Acquires Towne Center at Cedar Lodge: A Market-Dominant Shopping Center in Baton Rouge

DLC and DRA Advisors acquired Towne Center at Cedar Lodge, a 316,031-square-foot Whole Foods-anchored shopping center in Baton Rouge, Louisiana. The property is 93% leased and anchored by a top-performing Whole Foods and national retailers. It has strong demographics and proximity to Louisiana State University, with immediate upside potential through lease-up, renewals, and a planned 286-unit multifamily development.

DLC, in partnership with DRA Advisors, has acquired Towne Center at Cedar Lodge, a 316,031-square-foot Whole Foods-anchored shopping center located in Baton Rouge, Louisiana. The property, which is 93 percent leased, is anchored by a top-performing Whole Foods Market, the No. 2 Whole Foods in the state, alongside national retailers such as Barnes & Noble, Nike, Gap, and Ulta Beauty. The center recorded over 3.3 million total visits last year, reflecting its status as the best grocery-anchored center in Baton Rouge, the state capital.

Strategically situated at the high-traffic corner of Jefferson Highway and Corporate Boulevard, with access to major interstates and Louisiana State University (LSU), the property benefits from strong surrounding demographics and a close proximity to LSU, which is home to over 40,000 students. The acquisition positions DLC to build on the center's strong foundation and elevate its performance through active leasing, mark-to-market opportunities, and creative solutions for repositioning vacancy.

Adam Ifshin, Founder and CEO of DLC, commented, "Towne Center at Cedar Lodge is the type of retail asset we target—dominant positioning, high-performing national anchors, and meaningful value-add opportunities." Brett Gottlieb, Senior Managing Director at DRA Advisors, added, "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."

The 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.

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. 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. DRA Advisors, a New York-based registered investment advisor, specializes in real estate investment management services for institutional and private investors.

References
1. [DLC Acquires Towne Center at Cedar Lodge](https://finance.yahoo.com/news/dlc-secures-baton-rouge-trophy-161500541.html)