How to import Nodes and Node Location data using Feeds module?
Yes, definitely go with feeds except I would go with location module instead of geofield personally as it has direct support from the location_feeds module for mapping in all the relevant details. Its possible that you may need to do two seperate feeds (one for importing the node information and one for the location information) but you can make sure they "come together" by using the same GUID field from your feed on each one. The easiest way is to try :) Set up a dummy file first with only 10 imports.