M & J Wilkow Ltd., MetLife Investment Management Acquire The Southlands
DENVER, COLORADO (March 19, 2018) – M & J Wilkow, Ltd. announced today that the company, together with MetLife Investment Management on behalf of its clients, acquired the Southlands, one of Colorado’s premier retail centers on Friday, March 16. Located in southeast Aurora, the Southlands is part of the largest shopping destination in the state of Colorado, encompassing 1.7 million-square-feet of high-quality retail and office space.
Developed in 2005, the Southlands offers an unrivaled critical mass of high-quality retail, featuring best in class tenants including: AMC Theatres, Dick’s Sporting Goods (under construction), H&M, Bed Bath & Beyond, Barnes and Noble, Ross Dress for Less, Ulta and Best Buy. The center consists of a traditional power center component, an open-air lifestyle component (known as the Town Center) with fashion, food and entertainment concepts and office space located above the retailers in the Town Center, which combined, amounts to over of 917,000 SF of first class retail and office space. Southlands also benefits from the drawing power of strong shadow anchors including Walmart, Sam’s Club and TJ Maxx. Located near the E-470 toll road, Southlands is well positioned on Smoky Hill Road with convenient accessibility and strong visibility for the 76,000+ vehicles passing the property each day. This area of Aurora has experienced impressive population growth and is one of the fastest growing affluent trade areas in the country.
Southlands becomes the third retail destination co-owned by M & J Wilkow, Ltd. and MetLife Investment Management, joining open-air lifestyle, dining and entertainment center Magnolia Park in Greenville, S.C., as well as Town Center of Mililani, a community shopping destination in suburban Oahu, Hawaii.
“We are proud to once again partner with MetLife Investment Management on this transaction to acquire the Southlands,” said M & J Wilkow Executive Vice President, Gregg Wilkow. “We have always been drawn to the Denver metro area; having previously owned and managed a 415,000 SF office park in Greenwood Village (Triad at Orchard Station), we also recently purchased the Cherry Creek Corporate Center- another outstanding addition to our growing Denver footprint. With strong in-migration and job creation, Denver continues to perform as one of the most exciting growth markets in the country. This is clearly evident in the residential communities surrounding the Southlands, where new home construction continues at a record pace and the affluent residential population is growing rapidly. Southlands’ position in the path of growth and the strong existing tenant base coupled with the potential to make further upgrades to the shopping experience, all contributed to our pursuit of this flagship retail asset. We look forward to improving this already exceptional property by adding exciting new tenants and bringing additional amenities to offer our customers an even better experience.”
About Southlands
Southlands is a 1.7 million square foot outdoor shopping center and located in Aurora, Colorado at E-470 and Smoky Hill Road. It is Colorado’s largest retail destination featuring over 150 stores, restaurants and entertainment options such as Barnes and Noble, H&M, Bed Bath and Beyond, Victoria’s Secret, Bath & Body Works, PetCo, Ulta, Best Buy, AMC Southlands 16 Theatres, Buffalo Wild Wings Ted’s Montana Grill, Bar Louie and many more. For more information, visit www.shopsouthlands.com.
About M & J Wilkow
M & J Wilkow is a leading commercial real estate owner and operator dedicated to creating value for its investors. The Company’s approach to real estate emerged distinctively from an owner's perspective and has evolved over 79 years in the real estate business. M & J Wilkow’s portfolio consists of 42 properties, which includes 20 office buildings and 22 retail properties consisting of approximately 10.2 million square feet. The aggregate market value of the portfolio is estimated to be in excess of $2.1 billion. For more information, visit www.wilkow.com.