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

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.