FAIRFIELD, N.J., May 15, 2024
/PRNewswire/ -- Lamar Companies, in conjunction with Real Capital
Solutions is pleased to announce the acquisition of Geneva Commons, a 440,370 SF open-air shopping
center in Geneva, IL. The property
is anchored by Dick's Sporting Goods and Barnes & Noble, with
shadow anchors including The Fresh Market, Binny's, DSW, and
HomeGoods. Geneva Commons is a
premier hybrid open-air center with strong visibility along Randall
Road featuring over 32,000 vehicles per day. Within the Property's
trade area there are over 246,209 residents earning an impressive
AAHI of $155,666 (43% higher than IL
average). Geneva Commons features a
dynamic mix of existing retail categories: casual & sit-down
dining, fitness, beauty, jewelry, furniture, pet, apparel, and
service based including Sephora, Athleta, Lovesac, Williams Sonoma, Pottery Barn, Bath and Body
Works, J. Crew Factory, and First Watch. The Center can accommodate
a range of prospective users and ownership looks forward to
enhancing the shopping experience by building upon its
best-in-class tenant mix.
"Geneva Commons is well
positioned as the most dominant and productive lifestyle center in
Chicago's western
suburbs. The Property enjoys a unique location and competitive
positioning that insulates it from direct competition. We look
forward to reinvesting in this premier asset to drive further
leasing activity," said Frank
Maresca with Lamar Companies. The acquisition builds upon
Lamar's recent history of acquiring premier lifestyle centers with
value-add potential including Shops at Valley Square in
Warrington, PA and Cambridge
Crossing in Mount Laurel, NJ.
Website: www.lamarco.com
About Lamar Companies
Lamar Companies is a full-service, privately held, real estate
investment company headquartered in Fairfield, New Jersey. Since its founding in
1972, the Company has routinely been ranked in the top 100 largest
owners of retail shopping centers in the US according to National
Real Estate Investors rankings. Lamar primarily focuses on
opportunities created by real estate economic cycles and
underperforming assets across the United
States and is a principal investor in projects for its own
account and in partnership with major institutions. Throughout the
years the firm has maintained its entrepreneurial roots as a
hands-on operating partner with a deep expertise in retail space,
and a unique ability to drive value for its investors.
Media Contact:
Frank Maresca
(973)-867-0612
377694@email4pr.com
Kyle Hayes
(973)-302-5678
377694@email4pr.com
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SOURCE Lamar Companies