Alamance Crossing, a retail lifestyle center, and Alamance West, a retail power center, are located on I-40/85 corridor between Piedmont Triad and Research Triangle. The assets were built in 2007 and 2011, respectively, and have steady in-place cash flow, with sales trending upwards since 2012. They have a combined occupancy of 95.7 percent, which presents investors with a value-add opportunity to re-tenant the vacant space and match the already strong tenant mix, of apparel, goods, service and restaurants.
- Alamance Crossing: 680,100-square-foot (452,591 square feet owned) lifestyle component of the shopping center anchored by non-owned Dillard’s and JCPenney and Belk, Hobby Lobby, Carousel Cinemas and Barnes & Noble.
- Alamance West: 224,598-square-foot (160,598 square feet owned) power center includes BJ’s Wholesale Club and Dicks Sporting Goods and a non-owned Kohl’s.
Alamance Crossing and Alamance West offer a stable investment opportunity due to the long-term anchor leases remaining, significant entertainment components, and attractive debt terms.
Managing Director, JLL Capital Markets