Lamar Companies and Real Capital Solutions, alongside the leasing team at Mid-America Asset Management Inc, have signed 45,951 square feet of new retail and restaurant leases at Geneva Commons in Geneva, Illinois, increasing occupancy from 88% to 95% in under two years since acquiring the property.
New tenants include Lululemon, Warby Parker, Big Blue Swim School, Club Champion, Vera Bradley and Miniso. The team also signed more than 20 lease renewals, including long-term extensions with Pottery Barn and Williams Sonoma.
Lamar Companies acquired the 440,370 square foot lifestyle center in April 2024 from LaSalle Investment Management for $63.75 million, retaining Mid-America Asset Management as the exclusive leasing agent.
Built in 2002, Geneva Commons is anchored by Dick’s Sporting Goods, Barnes & Noble, Sephora, Gap and Banana Republic. Located on Randall Road, the center serves as a regional destination for the far western suburbs with over 4.5 million annual visits and average tenant sales of over $400 per square foot. Lamar has since invested over $2,400,000 into capital and common area improvements.
The property benefits from strong surrounding traffic drivers, including the Fresh Market to the north, as well as Northwestern Medicine Delnor Hospital to the south, with over 1,000 employees. Leasing opportunities remain, highlighted by the recent closure of Crate & Barrel, creating a 33,329 square foot freestanding opportunity along Randall Road. Ownership is in active lease negotiations with a high-end national fitness user for the space.
