ALBUQUERQUE-Simon Property Group has expandedits footprint in the local market, acquiring ABQ Uptown, a222,000-square-foot lifestyle center here, for $86 million. TheIndianapolis-based REIT owns the dominant regional mall in themarket, Cottonwood Mall.

Developed by Hunt Development Group, ABQ Uptownis the only lifestyle center in the entire state. The property is95% leased to tenants including: Ann Taylor, Ann Taylor Loft,Anthropologie, Apple Computer, BCBG Max Azria, California PizzaKitchen, Francesca's Collections, L'Occitane, Lucky Brand Jeans,Pottery Barn and Williams-Sonoma. It generates sales ofapproximately $650 per square foot, according to Simon.

“We like the deal we did in Albuquerque,” said the REIT’sChairman and CEO David Simon during its secondquarter earnings call. “It's very well positioned, and consumerslove it, retailers love it, and we think there's upside.”