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.
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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
[email protected]
Kyle Hayes
(973)-302-5678
[email protected]
SOURCE Lamar Companies