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CenterSquare buys six buildings at Geneva Commons in $63.8M deal
The shopping center is 97% leased and CenterSquare says it purchased 87,649 square feet, raising its national acquisitions count to 81.
ConnectCRE reports that CenterSquare acquired a significant portion of Geneva Commons, adding the property to its essential service retail portfolio.
Geneva Commons is located along Randall Road and comprises over 80 retailers and restaurants across 418,000 square feet, with CenterSquare purchasing six buildings totaling 87,649 square feet.
The outlet said Geneva Commons is 97% leased, and that Lamar Companies, with Real Capital Solutions, acquired it for $63.8 million, following the seller LaSalle Investment Management’s prior purchase in 2013 at $124.5 million.
ConnectCRE also noted that CenterSquare and Lamar have made capital improvements, and that the center recently signed 45,951 square feet of new retail and restaurant leases with tenants including Lululemon, Warby Parker, Big Blue Swim School, Club Champion, Vera Bradley, and Miniso.