Southlands sells for $141.99M

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The nearly 1 million-square-foot retail and office property in southeast Aurora sold for $141.99 million, according to public records.

 M & J Wilkow Ltd., together with MetLife Investment Management on behalf of its clients, acquired the Southlands – one of the state’s premier retail centers.

The nearly 1 million-square-foot retail and office property in southeast Aurora sold for $141.99 million, according to public records.

“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-square-foot 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.”

Built in 2005 at E-470 and Smoky Hill Road, Southlands features more than 150 stores, restaurants and entertainment options, including AMC Theatres, Dick’s Sporting Goods (under construction), H&M, Bed Bath and Beyond, Barnes and Noble, Ross Dress For Less, Ulta, Best Buy, Ted’s Montana Grill, Bar Louie and Buffalo Wild Wings.

Southlands features a traditional power center component, an open-air lifestyle component (known as the Town Center) and office space located above the retailers in the Town Center totaling more than 917,000 sf of retail and office space.

The center also benefits from shadow anchors that include Walmart, Sam’s Club and TJMaxx, as well as its location at E-470 and Smoky Hill, which sees more than 76,000 vehicles per day, according to M & J Wilkow.

Southlands is the third retail destination co-owned by M & J Wilkow Ltd. and MetLife Investment Management, joining the open-air lifestyle, dining and entertainment center Magnolia Park in Greenville, South Carolina, as well as Town Center of Mililani, a community shopping destination in suburban Oahu, Hawaii.

Northwood Investors LLC, per public records, sold the center. It acquired it in 2012.

 

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