**Real Capital Solutions and Lamar Companies Acquire Alamance Crossing in Burlington, NC**
Real Capital Solutions and Lamar Companies have jointly acquired Alamance Crossing, a 456,742-square-foot open-air lifestyle retail center located in Burlington, North Carolina.
The property has experienced financial challenges in recent years. In 2021, the previous owner, CBL Properties, defaulted on a $50.8 million bank loan, leading the Alamance County Superior Court to appoint Spinoso Real Estate Group as the new property manager. By July 2024, the court ordered the asset to be listed for sale, paving the way for this recent acquisition.
Alamance Crossing is anchored by well-known retailers including Hobby Lobby, Carousel Cinemas, Barnes & Noble, and Belk. It is also supported by several shadow anchors such as Dillard’s, BJ’s, Dick’s Sporting Goods, Kohl’s, and JCPenney.
The center offers a diverse tenant mix that includes dining, fitness, beauty, fashion, and other service-based retailers. Notable tenants include Buffalo Wild Wings, Tropical Smoothie Café, Anytime Fitness, Bath & Body Works, Kay Jewelers, and DentalWorks.
New ownership plans to revitalize the center through aggressive capital improvements and targeted leasing efforts, aiming to attract a wider range of retailers and enhance the overall shopping and lifestyle experience for consumers.
