GREENVILLE, SC—A joint venture of MetLife of New York City and Chicago-based M & J Wilkow has purchased the former Greenville Mall here for an undisclosed sum.

Affiliates of the two firms formed the joint venture that purchased the property that is now called Magnolia Park. The center located at the intersection of I-85, I-385 and Woodruff Road totals approximately 468,000 square feet. Major tenants at Magnolia Park include Regal Cinemas, Cabela's, Nordstrom Rack, Golfsmith, Toys “R” Us/Babies “R” Us, Dave & Buster's, Yard House, Bed Bath & Beyond, Old Navy, and Costco.

MetLife is the majority owner of the newly acquired property, the companies report. The complex was bought from Magnolia Park One, LLC, which had redeveloped the former Greenville Mall. The firm that redeveloped the property, according to multiple published reports was Palm Beach, FL-based Menin Development Inc.

"Investing in retail real estate such as Magnolia Park is an important part of MetLife Real Estate Investors' overall strategy,” says 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.”

“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,” adds 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.”

Instant Insights /

MetLife, M&J Wilkow JV Acquire Retail Center

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