“Fortnite” game developer will convert mall into massive HQ

Epic Games agreed to buy nearly 1M sf North Carolina complex

National Weekend Edition /
Jan.January 10, 2021 12:00 PM
Cary Towne Center in North Carolina and Epic Games CEO Tim Sweeney (Google Maps; Getty)

Cary Towne Center in North Carolina and Epic Games CEO Tim Sweeney (Google Maps; Getty)

Epic Games, best known for developing the hit game “Fortnite,” is buying a mall in North Carolina with plans to convert it into a new headquarters.

The company has agreed to buy the 980,000-square-foot Cary Towne Center for $95 million, according to the Wall Street Journal. The mall is located in Cary, where the company is currently based.
Epic Games plans to open its new headquarters in 2024. It will be about four times as large as the company’s current headquarters.

The seller is Turnbridge Equities and Denali Properties, which purchased the property in January 2019, with plans to redevelop it into a mixed-use space with residential, office, retail, and hotel square footage.
Such conversions have been popular in recent years across the country as a way to turn struggling and aging malls into money makers.

Around the same time that Turnbridge and Denali bought the Cary Towne Center, Google announced it would lease the entirety of the former Westside Pavilion mall in Los Angeles, which Hudson Pacific Properties and Macerich are converting into offices.

Some industry pros have said the pandemic will make mall conversions increasingly prevalent.

Epic Games did not reveal details about its new office complex, but said it has no plans to create an e-sports arena, as some companies have done. Epic Games is also considering space open to the community.

The company also has offices in Seattle, and abroad in Berlin, London and elsewhere. China-based conglomerate Tencent owns a 48.4 percent stake. [WSJ] ­— Dennis Lynch 


Related Articles

arrow_forward_ios
Fabric co-founder, CEO Elram Goren (Getty, Elram Goren via LinkedIn)

Startup wants to bring “micro-warehouses” to vacant retail

Startup wants to bring “micro-warehouses” to vacant retail
Security around Trump Tower to be reduced after 45th POTUS leaves office. (Getty, The Trump Organization)

Fifth Avenue will look different after Trump leaves office

Fifth Avenue will look different after Trump leaves office
A rendering of Moorestown Mall (Courtesy of PREIT)

Apartments, hotel to be added to Moorestown Mall

Apartments, hotel to be added to Moorestown Mall
Hellcat Annie’s and Scruffy Duffy’s at 637-639 10th Avenue (Google Maps)

Hell’s Kitchen bar owner wants to sell for Bitcoin

Hell’s Kitchen bar owner wants to sell for Bitcoin
RedSky Principal Benjamin Bernstein and a section of the prooperties along N6th in Williamsburg. (RedSky)

RedSky hands over Williamsburg retail portfolio valued at $145M

RedSky hands over Williamsburg retail portfolio valued at $145M
Retail rents in Manhattan hit new lows at the end of 2020, but prices have been dropping steadily for the past five years. (Getty; iStock)

Manhattan retail rents hit new lows

Manhattan retail rents hit new lows
Laurent Morali and Charles Kushner (iStock)

Kushner buying sites near Delray Beach, Lake Worth for industrial and mixed-use projects

Kushner buying sites near Delray Beach, Lake Worth for industrial and mixed-use projects
A rendering of 121 West 125th Street in Harlem (Photo via BRP Companies; Trader Joe's)

Trader Joe’s is coming to Harlem

Trader Joe’s is coming to Harlem
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...