Simon Expands NM Presence with $86M Lifestyle Center

ALBUQUERQUE-Simon Property Group has expanded its footprint in the local market, acquiring ABQ Uptown, a 222,000-square-foot lifestyle center here, for $86 million. The Indianapolis-based REIT owns the dominant regional mall in the market, Cottonwood Mall.  

Developed by Hunt Development Group, ABQ Uptown is the only lifestyle center in the entire state. The property is 95% leased to tenants including: Ann Taylor, Ann Taylor Loft, Anthropologie, Apple Computer, BCBG Max Azria, California Pizza Kitchen, Francesca’s Collections, L’Occitane, Lucky Brand Jeans, Pottery Barn and Williams-Sonoma. It generates sales of approximately $650 per square foot, according to Simon.