Lamar Companies Acquires Premier Regional Open-Air Lifestyle Center In North Carolina
FAIRFIELD, N.J., April 21, 2025 /PRNewswire-PRWeb/ -- Lamar Companies, in conjunction with Real Capital Solutions is pleased to announce the acquisition of Alamance Crossing, a 456,742 SF premier regional open-air lifestyle center in Burlington, NC. The property is anchored by Hobby Lobby, Carousel Cinemas, Barnes & Noble, and Belk, with shadow anchors including Dillard's, BJ's, Dick's, Kohl's, and JCPenney. Alamance Crossing is strategically positioned at the intersection of major interstates I-85 & I-40 (132,000 VPD) which link high growth North Carolina markets. Located between the dynamic Piedmont Triad and Research Triangle regions, the property benefits from robust growth fueled by rapid commercial development, expanding infrastructure, and thriving residential communities. Alamance Crossing features an exciting mix of existing retail categories: casual & sit-down dining, fitness, beauty, jewelry, apparel, and service based including Buffalo Wild Wings, Tropical Smoothie Cafe, Anytime Fitness, Bath & Body Works, Kay Jewelers, and DentalWorks. The property can accommodate a variety of prospective users, with ownership eager to reinvigorate the asset with aggressive capital-enhancement and leasing initiatives.
"We are thrilled to announce the acquisition of Alamance Crossing, a premier regional open-air shopping center that enhances our growing portfolio. This strategic purchase builds on the nearly 1 million square feet of retail assets we've secured over the past 12 months, underscoring our commitment to identifying and capitalizing on value-add opportunities in the retail sector. Our team is actively pursuing deals to enhance our portfolio and capitalize on the evolving retail landscape" said Lamar Companies' Chief Acquisition Officer, Frank Maresca. The acquisition builds upon Lamar's recent history of acquiring premier lifestyle centers with value-add potential including Geneva Commons in Geneva, IL and Shops at Valley Square in Warrington, PA.
If you are a broker or tenant interested in joining an exciting tenant line-up at Alamance Crossing, please contact Wes Thurmond or Zeke Chernoff at the contact information listed below.
For questions related to the acquisition, please reach out to Frank Maresca.
Wes Thurmond
(980) 498-3299
Zeke Chernoff
(917) 940-2617
Frank Maresca
(973) 867-0612
Website: www.lamarco.com
About Lamar Companies
Lamar Companies is a full-service, privately held, real estate investment company headquartered in Fairfield, New Jersey. Since its founding in 1972, the Company has routinely been ranked in the top 100 largest owners of retail shopping centers in the US according to National Real Estate Investors rankings. Lamar primarily focuses on opportunities created by real estate economic cycles and underperforming assets across the United States and is a principal investor in projects for its own account and in partnership with major institutions. Throughout the years the firm has maintained its entrepreneurial roots as a hands-on operating partner with a deep expertise in retail space, and a unique ability to drive value for its investors.
SOURCE Lamar Companies
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