Epic Games, Turnbridge Equities and Denali Properties announced an agreement to transfer ownership of the Cary Towne Center of 980,000 square feet and 87 acres 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 areas, so that Epic has the flexibility to create a campus that is adapted from scratch to meet the long-term growth.
Epic plans to start developing its new headquarters this year, and the company will continue to be based on its current location on Crossroads Boulevard in the meantime. Epic has been proud to call Cary home for over 20 years and has delved into the community, often employed locally and from nearby universities as the company continues to grow and scale.
While plans for the Epic campus are still in the early stages, the company is already working with the city of Cary on the development and exploring ways some of this property can be used by the community. Epic is grateful to the city and its management for how accommodating it has been to the company over the years, and this positive relationship played an important role in Epic̵
“We are extremely proud that Epic has chosen to call Cary home for their new global headquarters, and we greatly appreciate the company’s recognition of Cary’s existing assets, as well as the unlimited potential in the area for their growing business,” said Cary, NC Mayor Harold Weinbrecht. “We look forward to continuing to work closely and collaborate with the Epic team as they conceptualize their new campus, and we are honored to work with them on this exciting new development.”
Epic, represented by Stephen Porterfield of Capital Associates in this transaction, also works closely with Turnbridge and Denali to ensure a smooth transfer of ownership. Turnbridge and Denali acquired the Cary Towne Center Mall in January 2019 in a tight sale following the loss of three of the five anchor tenants. The companies realized the potential to transform the space into a revitalized new development for the region, and have since invested in the successful conversion of the property. Thanks to this investment, Epic will be able to start the development of its new head office this year, and begin the transformation of the property.
“Epic shares our vision of transforming the Cary Towne Center into a vibrant community. This sale is a further validation of our value-driven investment strategy, and the property could not be placed in better hands, ”said Jason Davis, CEO of Turnbridge Equities. “After years of changing development plans for the center, we are excited that the space will be utilized to its full potential and turned into something the city and community of Cary can be proud of.”