December 10, 2014...MetLife (NYSE: MET) and M & J Wilkow, Ltd. announced today that they have acquired Magnolia Park, an approximately 468,000 square foot outdoor retail center in Greenville, S.C. Affiliates of each of MetLife and M & J Wilkow formed a joint venture for the acquisition, with the MetLife affiliate as the majority owner. undefinedThe complex was bought from Magnolia Park One, LLC, who had redeveloped the site of the former Greenville Mall. Magnolia Park is a retail center located at the intersection of I-85, I-385 and Woodruff Road.
"Investing in retail real estate such as Magnolia Park is an important part of MetLife Real Estate Investors' overall strategy," said Robert Merck, senior managing director and global head of real estate for MetLife. "We are also pleased to have M & J Wilkow as our joint venture partner and look forward to working with them to grow our investment."
Retailers at Magnolia Park include Regal Cinemas, Cabela's, Nordstrom Rack, Golfsmith, Toys "R" Us/Babies "R" Us, Dave & Buster's, and Yard House. Other large retailers include Bed Bath & Beyond, Old Navy, and Costco.
"M & J Wilkow is delighted to be able to add Magnolia Park to its growing portfolio of best-in-class retail properties in high growth regions of the country," said Marc Wilkow, President of M & J Wilkow. "The opportunity to team up withMetLife is exceptional and inspiring for the entire M & J Wilkow team. We also look forward to evaluating other similarly exciting opportunities with our colleagues at MetLife."