Lamar Companies, in conjunction with Real Capital Solutions, is pleased to announce the acquisition of six shopping centers totaling over $165 million over the last five months. Most recently, in April 2022, the group acquired The Shops at Valley Square, a 293,550 SF lifestyle center in Warrington, PA.
FAIRFIELD, N.J., May 10, 2022 /PRNewswire-PRWeb/ -- Lamar Companies, in conjunction with Real Capital Solutions, is pleased to announce the acquisition of six shopping centers totaling over $165 million over the last five months. Most recently, in April 2022, the group acquired The Shops at Valley Square, a 293,550 SF lifestyle center in Warrington, PA. Prior to that, in February 2022, Lamar and Real Capital Solutions acquired a four-shopping center portfolio in Puerto Rico and in December 2021, acquired Stone Creek Towne Center, a market dominant power center in Cincinnati, Ohio. The Lamar-RCS partnership has acquired nearly $500 million in total over the last 11 years and is continuing to aggressively seek value-add shopping centers across the United States and Puerto Rico.
The firm's recent purchase, The Shops at Valley Square is a Class-A mixed-use lifestyle center (retail, office and multi-family land with the potential for over 300 units) totaling approximately 293,550 SF that was built in 2007. The center is located in an affluent suburb approximately 16 miles north of Philadelphia at the intersection of Street Road (Route 132) and Easton Road (Route 611), two of Bucks County's busiest commercial arteries, with cumulative traffic counts exceeding 69,000 vehicles per day. The intersection is bolstered by best-in-class anchors including an adjacent Home Depot and Wegmans. The Shops at Valley Square is the only true lifestyle center in the market providing a "main street" experience. The center is comprised of nine high-quality free-standing buildings with attractive architecture and a centrally located courtyard area adorned with a pavilion/gazebo, firepit area, and seating areas.
In addition to being shadow anchored by a high-performing Wegmans, the center features a strong tenant mix including retailers Ulta Beauty, DSW, Banana Republic, and Eastern Mountain Sports along with numerous food options including PF Chang's, Playa Bowls, Panera Bread, Turning Point, Gran Rodeo Mexican Grill, Great Barn Taphouse, and Ardana, among others. The center is benefiting from strong leasing momentum with multiple new leases at execution and features prime retail leasing opportunities ranging in size from 1,000 SF to more than 15,000 SF in addition to office spaces that can accommodate various size users. If you are a broker or tenant interested in joining an exciting tenant line-up at The Shops at Valley Square, please contact Joe Raniszewski or Akiva Goldstein at the contact information listed below.
For questions related to these acquisitions or if you have a property you are looking to sell, please reach out to Frank Maresca or Kyle Hayes.
Frank Maresca
[email protected]
(973) 867-0612
Kyle Hayes
[email protected]
(973) 302-5678
Joe Raniszewski
[email protected]
(215) 883-7390
Akiva Goldstein
[email protected]
(215) 883-7385
About Lamar Companies
Lamar Companies was founded in 1972 and 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 achieve attractive risk-adjusted returns for its investors.
Website: http://www.lamarco.com
Media Contact
Frank Maresca, LAMAR Companies, 973 867-0612, [email protected]
SOURCE LAMAR Companies
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