Formerly named Burlington Marketplace, CBL & Associates Properties' newest open-air regional shopping center is rising on 142 acres at the intersection of Interstate 85/40 and University Drive. When completed, the center will comprise 840,000 sf. In addition to Dillard's, Barnes & Noble has also signed deal to take space; however, the exact square footage was unavailable. CBL & Associates could not be reached by GlobeSt.com's deadline.

According to a statement from CBL, Alamance Crossing will have three major anchor tenants and three junior anchor tenants, plus specialty retailers, dining and entertainment venues. In addition to the signed leases with Dillard's and Barnes & Noble, CBL is in final negotiations with Ann Taylor Loft, Chico's, Children's Place, Coldwater Creek, New York & Co. and Yankee Candle. "We continue to receive tremendous interest from retailers who want to join Alamance Crossing," Stephen Lebovitz, president of CBL & Associates, says in the statement. "We look forward to bringing this unique, open-air shopping center to the Burlington area."

Once completed, the center is expected to bring 1,500 jobs to the area and generate more than $200 million annually in retail sales. CBL & Associates owns and manages seven regional malls in North Carolina. They are Randolph Mall in Asheboro, Asheville Mall in Asheville, Cary Towne Center in Cary, Cross Creek Mall in Fayetteville, Oak Hollow Mall in High Point, Hanes Mall in Winston-Salem and Triangle Town Center in Raleigh.