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Lamar Partnership Picks Up “Dominant” East Town Retail

Lamar Companies, in conjunction with Real Capital Solutions, has acquired East Town Plaza in Madison, WI. The 216,785-square-foot shopping center is located along a two-mile commercial corridor.

The buyers didn’t disclose financial terms of the deal. The seller was RPT Realty, which said in a fourth-quarter earnings call that it had sold the property for $13.5 million. The shopping center REIT paid $16.5 million for it in 2000.

The center is 83% leased; the tenant roster includes Burlington, Marshalls, Ross Dress for Less, Jo-Ann Fabrics, DSW Shoe Warehouse, ULTA Beauty and Party City. It has seven vacancies ranging from 1,334 square feet to 17,200 square feet.

“East Town Plaza is currently positioned as one of the most dominant centers in the East Town submarket, and Lamar will look to further improve its position through an aggressive leasing and management plan,” said Kyle Hayes, director of acquisitions at Fairfield, NJ-based Lamar.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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