Epic Games, Turnbridge Equities and Denali Properties have announced an agreement to transfer ownership of the 980,000-square-foot, 87-acre Cary Towne Center to Epic Games, with the goal of converting the property into its new campus by 2024. .
The facilities will include both office buildings and recreational spaces, giving Epic the flexibility to create a campus adapted from the ground up to accommodate its long-term growth.
Epic plans to begin development of its new headquarters this year and the company will henceforth be located at its current location at Crossroads Boulevard. Epic is proud to call Cary home for over 20 years and has deepened its reach in the community and has regularly rented locally and from nearby universities as the business continues to grow and expand.
Although the plans for the Epic campus are still in the early stages, the company is already working with the city of Cary on its development and exploring ways in which some of the property could be used by the community. Epic is grateful to the city and its leadership for how welcoming it has been to the company over the years, and this positive relationship has played an important role in Epic’s decision to follow a campus that has its future in Cary for decades to come. ensure.
“We are very proud that Epic has chosen to host Cary for their new global headquarters, and we appreciate the company’s recognition of Cary’s existing assets, as well as the area’s unlimited potential for their growing business,” said Cary. , NC said. Mayor Harold Weinbrecht. “We look forward to continuing now and collaborating with the Epic team as they conceptualize their new campus, and we are delighted to work with them on this exciting new development.”
Epic, represented in this transaction by Stephen Porterfield of Capital Associates, is also working closely with Turnbridge and Denali to ensure a smooth transition of ownership. Turnbridge and Denali acquired the Cary Towne Center shopping mall in January 2019 in an emergency sale following the loss of three of its five anchor tenants. The companies realized the potential to transform the space into a new development for the region, and have since invested in the successful rezoning of the property. Thanks to this investment, Epic can start the development of its new headquarters this year and start transforming the property.
“Epic shares our vision to transform Cary Towne Center into a vibrant community space. This sale is a further confirmation of our value-driven investment strategy, and the property could not be placed in better hands, ”said Jason Davis, Managing Director of Turnbridge Equities. “After years of changing development plans for the center, we are delighted that the space will be utilized to its full potential and will be something that the city and community of Cary can be proud of.”