Sale of Target-Anchored Regional Center Completes Eight-Year Repositioning in Pinal County
CASA GRANDE, Ariz., Nov. 9, 2026 /PRNewswire/ — New Jersey-based Lamar Companies (“Lamar”), together with its partner Real Capital Solutions (“RCS”), today announced it has completed the sale of Promenade at Casa Grande, a 480,000-square-foot regional shopping center located at Interstate 10 and Florence Boulevard in Casa Grande, Arizona, for $63.1 million. The transaction closed on October 8, 2026. El Warner and his team at Colliers represented Lamar in the transaction.
Promenade at Casa Grande sits along Interstate 10 midway between Phoenix and Tucson, serving one of the fastest-growing trade areas in Arizona. The center is anchored by Target, with a diversified roster of national tenants including Harkins Theatres, HomeGoods, Marshalls, Ross Dress for Less, Burlington, Michaels, PetSmart, Five Below, Bealls and Ashley Furniture.
“More than eight years ago, Lamar had a vision for Promenade at Casa Grande, and this sale is a clear example of what our hands-on operating approach can deliver for our investors,” said Kyle Hayes, Chief Operating Officer of Lamar Companies. “Lamar repositioned the center around a strong lineup of national retailers, working closely with the City of Casa Grande. As a result, net operating income and occupancy increased substantially over our hold, delivering exceptional investor returns. We want to thank the entire Lamar team, Colliers, and our partners, including RCS, whose hard work and commitment made this result possible.”
The disposition follows a series of acquisitions Lamar has completed in partnership with RCS since 2025, including Alamance Crossing in Burlington, North Carolina; Stamford Towers in Stamford, Connecticut; 30 Montgomery in Jersey City, New Jersey; and Legacy Square in Linden, New Jersey. The sale of Promenade at Casa Grande reflects the firm’s strategy of recycling capital from stabilized assets into new value-add opportunities. Lamar continues to actively pursue acquisitions of both retail assets across the United States and office assets in the greater Tri-State area.
About Lamar Companies
Lamar Companies is a full-service, privately held real estate investment company headquartered in Madison, New Jersey. Since its founding in 1972, Lamar has routinely been ranked in the top 100 largest owners of retail shopping centers in the US according to National Real Estate Investor rankings.
Lamar primarily focuses on opportunities created by real estate economic cycles and underperforming assets across the United States and is a principal investor in projects for its own account and in partnership with major institutions. Over the years, the firm has maintained its entrepreneurial roots as a hands-on operating partner with deep expertise in retail and office, and a unique ability to drive value for its investors.
Media Contact:
Kyle Hayes, Chief Operating Officer, Lamar Companies
(973) 302-5678 | 426528@email4pr.com
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SOURCE Lamar Companies
