Lamar Companies Successfully Concludes $63.1 Million Sale of Promenade at Casa Grande

Lamar Companies Concludes Major Sale in Casa Grande

Lamar Companies, headquartered in New Jersey, has successfully completed the sale of the Promenade at Casa Grande, a significant retail center located in Casa Grande, Arizona. The deal, finalized on October 8, 2026, was executed for a total of $63.1 million, marking an important achievement in the strategic investments of Lamar Companies and its partner, Real Capital Solutions (RCS).

The Sale Details

The Promenade at Casa Grande covers approximately 480,000 square feet and is strategically located at the intersection of Interstate 10 and Florence Boulevard. This prime location positions it midway between Phoenix and Tucson, making it a central shopping destination for one of the fastest-growing areas in Arizona. The center boasts a strong tenant mix, primarily anchored by Target, and features other well-known retailers including Harkins Theatres, HomeGoods, Marshalls, Ross Dress for Less, Burlington, Michaels, PetSmart, Five Below, Bealls, and Ashley Furniture.

For Kyle Hayes, Chief Operating Officer of Lamar Companies, this sale underscores the success of their long-term vision which has been in place for over eight years. Hayes remarked, "This transaction is a testament to our hands-on approach, which has effectively repositioned the property around a robust lineup of national retailers. Our collaboration with the City of Casa Grande has led to significant increases in both net operating income and occupancy, delivering outstanding returns for our investors."

Investment Strategy and Future Plans

This recent sale is part of Lamar’s broader strategy of capital recycling from stabilized assets into new investment opportunities. Since 2025, Lamar has completed several acquisitions alongside RCS, including properties such as Alamance Crossing in Burlington, North Carolina, and Legacy Square in Linden, New Jersey. The proceeds from the Casa Grande sale will likely be reinvested into further growth opportunities across both retail and office sectors in the U.S., particularly within the Tri-State area.

Lamar Companies has a reputable history in the real estate investment space, being consistently ranked among the top 100 largest owners of retail shopping centers in the United States. Since its inception in 1972, Lamar has focused on identifying opportunities arising from market cycles and improving underperforming assets. Their hands-on operating style and deep expertise in retail and office sectors enable them to drive substantial value for their investors.

As the market for commercial real estate continues to evolve, Lamar Companies remains committed to its proactive approach to investment, ensuring it adapts to changing dynamics while ensuring maximum return for its stakeholders.

Conclusion

The completion of this notable transaction at Promenade at Casa Grande highlights Lamar Companies' effectiveness in executing its real estate investment strategy. With ambitious plans for future acquisitions and developments, the firm is well-positioned to capitalize on emerging opportunities in the retail and office markets across the United States.

For media inquiries, Kyle Hayes, the Chief Operating Officer of Lamar Companies, can be contacted at (973) 302-5678 or via email at [email protected].