Foreclosed-On Burlington Shopping Center Trades for $38.5M
A judge approved the sale of Alamance Crossing, an 855,000-square-foot shopping center in Burlington, to Real Capital Solutions for $38.5 million. The Triad Business Journal reports that Alamance Crossing has faced financial troubles in the past few years. In 2023, the Alamance County Superior Court appointed Spinoso Real Estate Group to take over management from CBL Properties after it defaulted on a $50.8 million bank loan in 2021. In July of 2024, the Alamance Superior Court ordered that the property be listed for sale.
Alamance Crossing is located in the eastern part of Burlington, just off Interstate 40 and near University Drive. The shopping center has retailers including Victoria’s Secret, Shoe Depot, Talbots, Furniture World, Bath & Body Works and Barnes & Noble. It also includes the Southeast Cinemas Alamance Crossing Stadium 16 movie theater as well as restaurants such as Red Bowl Asian Bistro, Cork & Cow, Buffalo Wild Wings and Royal Tea Cafe.
