RCS and Lamar Companies Acquire East Town Plaza in Madison, WI
MADISON, Wis. - February 22, 2019
Lamar Companies, in conjunction with Real Capital Solutions has acquired East Town Plaza in Madison, WI. The center is 216,785 SF and features an unrivaled line-up of nationally-recognized anchor tenants including Burlington, Marshalls, Ross Dress for Less, Jo-Ann Fabrics, DSW Shoe Warehouse, ULTA Beauty, and Party City. The center is 83 percent leased and currently has seven vacancies ranging in size from 1,334 square feet to 17,200 square feet.
The Property is positioned along a 2-mile commercial corridor positioned along East Washington Avenue (U.S. 151) and directly southwest of a full interchange with I-90 in a trade area that features an abundance of retailers that complement the subject property’s tenancy, including Target, Dick’s Sporting Goods, The Home Depot, Menards, HyVee, Bed Bath & Beyond, Walmart, and Michaels. The current consumer base of almost 118,000 residents with average incomes of $79,000 within a 5-mile radius is expected to experience continued outstanding population growth.
“We are extremely excited by the opportunity to acquire East Town Plaza, which boasts a strong lineup of healthy retailers that are thriving in today’s retail environment,” said Frank Maresca, Vice President at Lamar Companies.
“East Town Plaza is currently positioned as one of the most dominant centers in the East Towne submarket and Lamar will look to further improve its position through an aggressive leasing and management plan, as we seek to continue to add to the strong existing tenant mix,” added Kyle Hayes, Director of Acquisitions at Lamar Companies.