The Brookside Center shopping plaza in Bridgeport in 2023. Photo courtesy of DLC

An investment firm that describes itself as “one of the country’s largest owner-operators of open-air shopping centers” has picked up a grocery-anchored plaza in Bridgeport’s North End.

Elmsford, New York-based DLC bought Brookside Center for $46.5 million. Located at 4485-4531 North Main St. – near the Trumbull Mall and the Merritt Parkway – the 13.15-acre property last traded on the open market for $26.35 million in 1998 and is appraised by city officials at $36.03 million according to city property records.

Berkshire Bank provided the $31.5 million mortgage, according to documents filed with the Bridgeport town clerk’s office.

“This center is a great fit for our portfolio,” DLC Vice President of Acquisitions Aaron Wu said in a statement. “It is located in our backyard where we own, operate, and manage seven other properties within an hour’s drive. There are many opportunities to improve this well-located shopping center even further.”

The 168,781-square-foot Brookside Center is anchored by a Stop & Shop and had a 2,200-square-foot, standalone Starbucks store added last year. Other tenants include Marshalls, Mattress Firm and Petco.

“Brookside is a strong addition to our ever-growing portfolio,” Adam Ifshin, CEO and founder of DLC, said in a statement. “By aggressively monetizing assets in 2022 and Q1 2023 and by addressing our loan maturities in the first quarter, DLC is on offense, making acquisitions, making capital improvements on our properties, finding new retailers to work with, and sourcing new partners to bring strong returns to. Open-air retail is the hottest asset class in commercial real estate, and we continue to produce strong returns for us and our partners.”