M & J Wilkow announced today that the company, along with MetLife Investment Management on behalf of its clients, acquired Port Chester Shopping Center. Located in Westchester County, New York, the 493,459-square-foot open air shopping center is one of the market's leading retail destinations.
Port Chester Shopping Center is strategically positioned at the intersection of highways I-287 and I-95, the two main highway systems connecting the Western and Northern suburban communities of New York City. The Center, anchored by Whole Foods and Kohl's, has an impressive tenant roster that includes HomeGoods, Ulta and Old Navy.
"We could not be more pleased with this opportunity to add a retail asset of this caliber to our portfolio and expand our relationship with MetLife Investment Management," said Marty Sweeney, Senior Vice President of Acquisitions and Asset Management at M & J Wilkow. "To acquire 30 acres of commercially zoned and developed land in central Westchester County is extremely rare. The combination of exceptional anchor tenants and substantial value-add components will allow us to utilize our skill set and unlock the potential of this asset and transform it into a super-regional shopping, dining, and entertainment destination."
Port Chester marks the fourth acquisition by M & J Wilkow and MetLife Investment Management. In addition to the newly acquired Port Chester Shopping Center, the firms' retail portfolio also includes open-air lifestyle and entertainment center Magnolia Park in Greenville, S.C., community shopping destination Town Center of Mililani in suburban Oahu, Hawaii, and The Southlands in Aurora, CO, a 1.7 million-square-foot open-air lifestyle and power center with an office component. The portfolio also includes Cascade Station in Portland, OR, a retail center which is managed by M & J Wilkow on behalf of MetLife Investment Management.