Geneva Commons shopping center has new owner

Lamar Companies now lists Geneva Commons, which first opened in 2002, as one of its shopping centers, according to its website, lamarco.com.

LaSalle Investment Management, the previous owner of Geneva Commons, reportedly sold it to Lamar, based in New Jersey and Colorado.

Geneva Mayor Kevin Burns said the new owners are welcome.

“Geneva welcomes Lamar partners as the new owner of Geneva Commons and have every expectation that Geneva Commons will continue to provide a dynamic, exciting and diverse shopping and dining experience,” Burns said.

Lamar’s online portfolio lists shopping centers in Texas, New Jersey, Virginia, Ohio, Puerto Rico, Pennsylvania, Florida and Arizona.

The website does link to an April 30 article in The Real Deal, a real estate news publisher, which reported that the 438,000-square-foot shopping center, at 620 Commons Drive, was sold for $63.7 million to Lamar Companies.

Property records show the previous owner, LaSalle Investment Management, bought it in 2013 for $124 million.

Lamar officials did not respond to requests for comment.