Lamar, Real Capital Solutions Acquire 456,742 SF Open-Air Retail Center in Burlington, North Carolina

RE Business Online | April 22nd, 2025

Lamar Cos., in partnership with Real Capital Solutions, has acquired Alamance Crossing, a 456,742-square-foot open-air retail center in Burlington, North Carolina, roughly 22 miles east of Greensboro. The center is anchored by major tenants including Hobby Lobby, Carousel Cinemas, Barnes & Noble and Belk, with additional retailers such as Buffalo Wild Wings, Bath & Body Works, Anytime Fitness and Kay Jewelers.

The property reportedly sold for $38.5 million after its previous owner, CBL Properties, defaulted on a $50 million loan. Spinoso Real Estate Group was court-ordered to take over management and market the asset, while Newmark’s Tom Dobrowski represented the seller in the transaction.

Lamar, Real Capital Solutions Acquire 456,742 SF Open-Air Retail
Center in Burlington, North Carolina
RE Business Online
April 22, 2025
By RE Business Online Staff

BURLINGTON, N.C. — Lamar Cos., in partnership with Real Capital Solutions, has acquired
Alamance Crossing, a 456,742-square-foot open-air retail center located in Burlington, about 22
miles east of Greensboro, N.C. Hobby Lobby, Carousel Cinemas, Barnes & Noble and Belk
anchor the center. Additional retailers include Buffalo Wild Wings, Tropical Smoothie Café,
Anytime Fitness, Bath & Body Works, Kay Jewelers and DentalWorks, among others.
Tom Dobrowski of Newmark represented the seller in the transaction. Triad Business
Journal reported that previous owner CBL Properties defaulted on the property’s $50 million
loan and that Spinoso Real Estate Group was court-ordered to take over management of
Alamance Crossing, as well as bring it to market. The news outlet also reported the asset traded
hands for $38.5 million.

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