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Lamar Companies And Real Capital Solutions Acquire Alamance Crossing Retail Center In Burlington For $38.5M

Property Image
SOLD
$38,500,000

North Carolina

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Retail456,742 SF
Sold 04/22/2025
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Property Image
SOLD

Lamar Companies And Real Capital Solutions Acquire Alamance Crossing Retail Center In Burlington For $38.5M

1080 Piper Lane

See Similar Deals
Retail456,742 SF
Sold 04/22/2025
the dealplayerscompscontact
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Summary

NORTH CAROLINA
Asset Type:Retail
Price Per Square Foot:$84
Total Square Footage:456,742 SF
Transaction Type:Sale

The retail asset involved in the transaction is Alamance Crossing, located at 1080 Piper Lane, Burlington, NC. The property encompasses 456,742 square feet and was sold for $38,500,000, translating to a price per square foot of $84.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $38,500,000
  • Buyer: Lamar Companies & Real Capital Solutions
  • Seller: CBL Properties
  • Broker: Thomas Dobrowski - Newmark
  • Square Footage: 456,742
  • Price per Square Foot: $84

Lamar Companies and Real Capital Solutions have taken management of Alamance Crossing, which features anchors such as Hobby Lobby and Barnes & Noble. The transaction occurred after CBL Properties defaulted on its loan, leading to the acquisition handled by the brokerage representation of Thomas Dobrowski from Newmark.

Players

Thomas Dobrowski
Newmark
Thomas Dobrowski
2 deals$111.5M volume
BROKER
CP
CBL Properties
SELLER

Details

SOLD
IMAGE: 04/22/2025 ADDRESS: 1080 Piper Lane MARKET: Burlington, NC ASSET TYPE: Retail BUYER: Lamar Companies & Real Capital Solutions SELLER: CBL Properties BROKER: Thomas Dobrowski - Newmark SALE PRICE: $38,500,000 SF: 456,742 ~ PPSF: $84 NOTE: Lamar Cos. and Real Capital Solutions acquired Alamance Crossing, a 456,742-square-foot retail center in Burlington, N.C., for $38.5 million after CBL Properties defaulted on its loan. The center features anchors like Hobby Lobby and Barnes & Noble, with management now by Spinoso Real Estate Group.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$2,053,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$136,782.38
Cash-on-Cash Return-1.27%
Monthly Debt Service$182,509.64
Annual Debt Service$2,190,115.70