JV Acquires WI Shopping Center

Lamar Cos. and Real Capital Solutions have purchased the 216,785-square-foot East Town Plaza in Madison, which was 83 percent leased at the time of sale.
East Town Plaza

A partnership of Lamar Cos. and Real Capital Solutions has acquired East Town Plaza, a 216,785-square-foot shopping center in Madison, Wis. The property was 83 percent leased at the time of sale and is anchored by Burlington, Marshalls, Ross Dress for Less, Jo-Ann Fabrics, DSW Shoe Warehouse, ULTA Beauty and Party City.

East Town Plaza is situated along a 2-mile, highly-trafficked commercial corridor along E. Washington Avenue (Highway 151) and near the interchange with Interstate 90. The shopping center is located about 7 miles from downtown Madison and a 15-minute drive from the Dane County Regional Airport.

“East Town Plaza is currently positioned as one of the most dominant centers in the East Town 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,” said Kyle Hayes, director of acquisitions at Lamar Cos., in prepared remarks.

Lamar Cos. and Real Capital Solutions partnered up previously to acquire two Dallas-area shopping centers—Shops at Vista Ridge and Vista Ridge Plaza—in June of last year.

Image courtesy of Lamar Cos.