Epic Games buys a gigantic Shopping Mall for $95 million dollars

Recently, Epic Games announced plans to buy an old shopping center for $95 million dollars and expects to move its headquarters by 2024. According to The News & Observer reports, Epic Games has agreed to purchase the Cary Towne Center mall from Turnbridge Equities and Denali Partners for $95 million. Epic's HQ is already located in Cary on the intersection of Crossroads Boulevard and Jones Franklin Road and will remain there until the newly purchased 980,000-square-foot site is redeveloped into its new HQ.

Cary Towne Center first opened in 1979, however, due to the new trends in how consumers shop and the rise of online shopping, the mall really started to suffer in 2016. By 2019, the mall was nearly abandoned and had many financial troubles.

The mall was set to be demolished following the 2020 holiday season to make way for a mixed-use site including residential units, hotels, office buildings, and a new retail area. Meanwhile, Epic had planned to expand its existing headquarters, but has now confirmed the acquisition of Cary Towne Center, meaning that the expansion will no longer go ahead.