Epic is paying $ 95 million for the old mall and expects to move to its new headquarters by 2024

Shopping malls are nowhere near as popular as they used to be, to the point where they even close their doors, however, within the next three years, Epic Games will be transforming an old mall into a brand new headquarters

As reported by The News & Observer, Epic Games has agreed to purchase the Cary Towne Center mall from Turnbridge Equities and Denali Partners for $ 95 million. Epic is already headquartered in Cary at the intersection of Crossroads Boulevard and Jones Franklin Road and will stay there while the 87-acre mall is converted into new headquarters, Epic hopes to move in by 2024

Jason Davis, General Manager of Turnbridge Equities, said, “After years of postponing development plans for the center, we are thrilled that the space will reach its full potential and become something the City and Cary community will be proud of can be from “

The Cary Towne Center first opened in 1979, but the tremendous change in the way consumers shop and the ongoing move to online stores made the mall really start to suffer in 2016 and until 2019 was everything well as over when the existing owner CBL defaulted on the mall’s mortgage and sold it to Turnbridge The mall was slated to be demolished after the 2020 holiday season to make way for a mixed-use site of residential units, hotels, office buildings and a new retail area In the meantime, Epic had planned to expand its existing headquarters but has now confirmed that the acquisition of the Cary Towne Center means the expansion will no longer continue

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World News – CA – Epic Games is buying a mall

Source: https://www.pcmag.com/news/epic-games-buys-a-shopping-mall