DLC Management Opens 27,000-Square-Foot Nordstrom Rack at Colony Place in Plymouth, Massachusetts
PLYMOUTH, Mass. — DLC Management has completed a 27,000-square-foot ground-up Nordstrom Rack store at Colony Place in Plymouth, Massachusetts, with the retailer opening its doors Sept. 3, 2026, ahead of the Labor Day shopping weekend. The project was delivered on time and on budget less than a year after breaking ground in November 2025.
The development was executed through DLC's integrated platform, with Renovo Construction serving as general contractor and NWS Architects providing design services. The store was built on previously unused land within the Colony Place shopping center, which DLC acquired for $86 million in 2024.
A Ground-Up Development on Underutilized Land
Colony Place is an approximately 393,566-square-foot open-air shopping center situated at the intersection of Route 3 and Route 44 in Plymouth, Massachusetts. The center was more than 90% occupied at the time of DLC's acquisition and carries a national tenant roster that includes ALDI, Dick's Sporting Goods, Best Buy, Burlington, Michaels, TJ Maxx, Petco, La-Z-Boy, Gap Factory, Men's Wearhouse, Bath & Body Works, Talbots, Ann Taylor Loft, J.Crew, Mattress Firm, Boot Barn, and Ulta Beauty, along with a shadow-anchor Walmart Supercenter.
Chris Ressa, Executive Vice President and Chief Operating Officer of DLC Management, said the Nordstrom Rack opportunity required creating space that did not previously exist within the center.
"There was an opportunity to welcome Nordstrom Rack to the center, and we had the right location but not the right space," Ressa said. "We created that opportunity by developing unused land within the center. That's often where the best value creation comes from, not just leasing existing space, but finding new ways to use the real estate."
The broader Colony Place project area encompasses approximately one million square feet of total development, including 5,000 parking spaces and adjacent multifamily uses, positioning the retail center within a larger mixed-use node in one of Massachusetts' fastest-growing communities.
Integrated Platform Drives Delivery Timeline
DLC Management, Renovo Construction, and NWS Architects coordinated across design, construction, and turnover phases to move the project from groundbreaking to opening in under a year. The timeline positioned Nordstrom Rack to open ahead of the Labor Day weekend.
Adam Ifshin, Founder and CEO of DLC Management, said the opening illustrates what the firm's owner-operator structure is designed to accomplish.
"Nordstrom Rack brings real retail firepower to Colony Place," Ifshin said. "It strengthens an already compelling destination and gives shoppers another reason to choose this center. Just as important, this opening shows what is possible when ownership, construction, design, and the retailer operate as one team with a shared focus on execution."
Peyton Thomas, Vice President of Renovo Construction, said the compressed schedule demanded consistent communication across all parties. "Delivering a ground-up store on this timeline required discipline, communication, and quick decision-making from everyone involved," Thomas said.
Ken Nadolski, Managing Principal of NWS Architects, said design alignment across the team was central to keeping the project on schedule. "NWS, Renovo, DLC, and Nordstrom Rack stayed aligned throughout the process, allowing the team to move decisions forward efficiently while protecting the design intent and the customer experience," Nadolski said.
Colony Place Within DLC's Expanding Portfolio
DLC Management manages more than $4 billion and 24 million square feet in assets under management across more than 90 properties. The firm has expanded its portfolio significantly in recent years, including a $625 million West Coast portfolio acquisition announced in October 2025 and a $100 million, four-property open-air retail deal announced in January 2026.
Colony Place, acquired for $86 million — implying a price of approximately $218 per square foot based on the center's 393,566-square-foot retail GLA — represents one of the firm's East Coast platform assets.
Plymouth's demographic profile has supported the case for additional retail investment at the center. The city has been cited as the fastest-growing residential community in Massachusetts, with population growth exceeding 145% over the past 20 years. Tourism activity contributes an estimated $300 million annually to the local economy, drawing an additional two million visitors per year.
Market Context for Off-Price Retail Expansion
The Nordstrom Rack addition deepens Colony Place's off-price and value-oriented tenant mix, complementing existing anchors such as Burlington and TJ Maxx. The center's positioning as a regional shopping destination serving Plymouth and surrounding communities is reinforced by the breadth of its national credit tenancy and its location at a major highway interchange.
DLC has described the Colony Place project as a demonstration of how its owner-operator model — which integrates leasing, development, construction, design, and property operations under one platform — can accelerate project timelines and improve accountability across the development process.
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