Lamar Cos. Acquires Geneva Commons at Major Discount

Lamar Companies, in conjunction with Real Capital Solutions, acquired Geneva Commons, a 440,370-square-foot open-air shopping center in Illinois. The joint venture picked up the retail property for $63.8 million, down from the $124.5 million that seller LaSalle Investment Management paid for it in 2013 reported Crain’s.

Geneva Commons 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. The center features a mix of existing retail tenants, including beauty, jewelry, furniture, pet, apparel, and service-based retailers.

“Geneva Commons is well positioned as the most dominant and productive lifestyle center in Chicago’s western suburbs,” said Frank Maresca with Lamar Companies. “We look forward to reinvesting in this premier asset to drive further leasing activity.”

Don’t miss the Lifetime Achievement Award Presentation and Keynote Interview with G. Joseph Cosenza, Vice Chairman of The Inland Real Estate Group, LLC and President of Inland Real Estate Acquisitions, LLC at Connect Midwest: Multifamily, Affordable, Student & Senior Housing Trends on June 4, 2024, at the W-Chicago, City Center Hotel, Chicago, IL. Register Today to network with your peers!