Cary Towne Center
A formerly enclosed shopping mall in Cary, North Carolina, that evolved from a 1979 local retail center into a major regional mall before closing in 2021.
Last updated October 14, 2026
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Overview
Cary Towne Center was an enclosed shopping mall in Cary, North Carolina. It began as Cary Village Mall, opening on February 21, 1979, with approximately 325,000 square feet of retail space. The original development formed part of a larger proposed Village Center project near the intersection of Maynard Road, Walnut Street, and Cary Towne Boulevard. Local developers Seby Jones and J. W. York were associated with the broader project, which was planned to include retail stores, offices, and other commercial uses. The rezoning and construction proposals generated opposition from nearby residents concerned about traffic, the scale of development, and the mall's proximity to local schools. The first mall was anchored by Ivey's and Hudson Belk, with a separate grocery operation that began as Big Star Markets and later became Harris Teeter. Its layout used a modified pinwheel plan with several wings surrounding a central sunken food court. A large southern red oak retained on the expansion land became an informal symbol of the property, although the tree later died and the raised terrace around it was removed. The competitive environment changed in the late 1980s as plans for the nearby Crossroads Plaza raised pressure on the older center to expand. A major redevelopment was completed in 1991 under the Richard E. Jacobs Group. The property was enlarged to roughly 1.1 million square feet and renamed Cary Towne Center. The expansion added a larger food court, a palm-themed Center Court, and new anchor stores including Thalhimers, JCPenney, and Sears. Thalhimers subsequently became Hecht's and then Macy's. Dillard's opened a larger replacement store in 1992, while the former Dillard's space was converted for smaller shops. Barnes & Noble opened across the street in 1995, adding another retail destination to the surrounding area. Cary Towne Center was sold to CBL & Associates Properties in 2001 as part of a portfolio transaction involving 21 properties in nine states. During the 2010s, the mall attempted to adapt to changing shopping patterns and the declining performance of traditional department stores. Dave & Buster's opened in 2013, while Harris Teeter moved to a larger location across the street in 2014. The former grocery space was later used by Jumpstreet, an indoor trampoline and entertainment venue. Sears closed in 2015, and a proposed TopGolf conversion of the vacant space was withdrawn after concerns about lighting and noise. A local furniture retailer briefly occupied the former Sears location in 2016. Macy's also closed in 2016 after weak sales and earnings performance. JCPenney announced its closure in January 2019, followed by Dillard's announcement that its store would close by December of that year. The mall's owners had already been exploring a mixed-use redevelopment. A major proposal envisioned retail, housing, offices, hotels, and community spaces, with an IKEA store intended to occupy portions of the former Sears and Macy's areas. IKEA canceled its Cary plans in 2018, citing changes in the retail environment. CBL subsequently defaulted on the property's mortgage and moved toward a sale. Turnbridge Equities and Denali Properties acquired the mall in January 2019 and proposed replacing it with Carolina Yards, a mixed-use project combining commercial, residential, hotel, office, and outdoor public uses. In January 2021, Epic Games acquired the property for $95 million with plans to create a headquarters campus containing offices and recreational facilities. Belk, the last traditional department-store anchor, closed on January 30, 2021. Cary Towne Center closed permanently on January 31, 2021, although Dave & Buster's later operated from a relocated site nearby. Most of the mall was demolished between March and April 2022. Epic's campus plans did not proceed on the announced timetable; in January 2025, the Town of Cary withdrew a zoning request after more than three years without activity. The property's longer-term redevelopment remains unresolved.
History
Cary Towne Center originated in the early 1970s as part of a proposed Village Center development in Cary, North Carolina. The broader concept covered approximately 78 acres and was intended to combine an enclosed shopping mall with office buildings, open-air retail pavilions, and other commercial uses. Developers associated with the proposal included Seby Jones, who had developed Crabtree Mall, and J. W. York, associated with Cameron Village. Local opposition focused on expected traffic, the scale of the project, and its location near Cary High School and other schools. The rezoning process became contentious before the town approved the development. Cary Village Mall opened on February 21, 1979. The original enclosed center contained about 325,000 square feet and was anchored by Ivey's and Hudson Belk. A nearby grocery component operated first as Big Star Markets and later as Harris Teeter. The mall used a modified pinwheel configuration, with retail wings arranged around a central sunken food court. An established southern red oak on land reserved for later expansion was retained during the site's growth and became an informal emblem of the mall. The tree eventually died, and its raised terrace was removed. During the late 1980s, competition from proposed retail development at nearby Crossroads Plaza encouraged Cary Village Mall to seek a substantial expansion. The redevelopment was completed in 1991 under the ownership of the Richard E. Jacobs Group. The mall expanded to approximately 1.1 million square feet and adopted the Cary Towne Center name. New anchor stores included Thalhimers, JCPenney, and Sears. Thalhimers changed to Hecht's in 1992 and later became Macy's in 2006. Dillard's opened a larger store in 1992, converting its original building to inline retail space. Barnes & Noble opened across the street in 1995, strengthening the surrounding retail district. In 2001, CBL & Associates Properties purchased Cary Towne Center as part of a portfolio of 21 properties located across nine states. The mall remained a large multi-anchor shopping center for much of the 2000s, but its position deteriorated as department stores faced declining traffic, changing consumer behavior, and increasing online competition. The property added experiential uses, including Dave & Buster's in 2013. Harris Teeter moved to a larger nearby site in 2014, and the former grocery space later became an indoor trampoline and entertainment complex operated by Jumpstreet. The anchor base contracted rapidly in the second half of the 2010s. Sears closed in January 2015, and a proposed TopGolf replacement was later withdrawn because of concerns about lighting and noise. The former Sears space briefly housed Cary Towne Furniture in 2016. Macy's closed in early 2016 after weak performance. JCPenney announced its closure in January 2019, and Dillard's announced later that year that its store would also close. These departures left Belk as the remaining traditional department-store anchor. Owners and local officials explored a transition from conventional mall retail to a mixed-use development. CBL's proposal included retail, housing, offices, hotels, and community areas. IKEA's proposed 350,000-square-foot store was expected to occupy part of the former Sears and Macy's area, but IKEA canceled the project in 2018 amid a reassessment of its expansion plans and the deteriorating retail market. CBL then disclosed that it had defaulted on the mall's mortgage and pursued a sale. Turnbridge Equities and Denali Properties acquired Cary Towne Center in January 2019. In 2020 they proposed Carolina Yards, a redevelopment combining retail, residential units, offices, hotels, and outdoor gathering and recreation spaces. Before that plan could be implemented, Epic Games acquired the property in January 2021 for $95 million. Epic announced an intended headquarters campus with office buildings and recreational facilities, targeting completion around 2024. Belk closed on January 30, 2021, and the mall shut permanently the next day. Dave & Buster's moved to a nearby former JumpStreet site, which opened in January 2022. Demolition of the mall began in March 2022 and was largely completed by the end of April. The planned Epic Games campus did not advance according to the original schedule. In January 2025, Cary withdrew the associated zoning request after more than three years of inactivity. The site remained largely vacant in the available account, with the former Belk building still standing and no settled future redevelopment plan identified.
- 2025
Zoning request is withdrawn
[1]The Town of Cary withdraws the inactive zoning request connected with the proposed Epic Games redevelopment.
- 2022
Main mall structure is demolished
[1]Demolition begins in March and is completed by the end of April.
- 2021
Epic Games acquires the property
[1]Epic Games buys Cary Towne Center for $95 million and proposes a headquarters campus.
- 2021
Mall closes permanently
[1]Cary Towne Center closes on January 31 after the final department-store anchor, Belk, shuts down.
- 2019
Turnbridge Equities and Denali Properties acquire the mall
[1]The property is sold after CBL defaults on its mortgage.
- 2018
IKEA cancels planned store
[1]IKEA reverses its plan for a major Cary location, undermining a proposed redevelopment strategy.
- 2013
Dave & Buster's opens
[1]The entertainment chain opens a venue at the mall.
- 2001
CBL & Associates Properties acquires the mall
[1]Cary Towne Center changes ownership in a portfolio transaction involving 21 properties.
- 1992
Dillard's opens replacement anchor
[1]Dillard's opens a larger store adjacent to its former location, which is converted to inline retail.
- 1991
Expansion and renaming to Cary Towne Center
[1]A major redevelopment expands the mall to about 1.1 million square feet and adds several new anchors.
Products and positioning
A suburban regional shopping center serving Cary and the surrounding Raleigh-area market, later repositioned unsuccessfully as traditional department-store retail declined.
Shopping center · 1979
Enclosed shopping mall
Cary Towne Center's core offering was a large enclosed suburban shopping environment containing department stores, specialty shops, dining, and services. After its 1991 expansion, the center reached approximately 1.1 million square feet and served as a regional retail destination for Cary and surrounding communities.
Retail anchors · 1979
Department-store anchors
The mall hosted a succession of major department stores, including Ivey's, Hudson Belk, Belk, Dillard's, Thalhimers, Hecht's, Macy's, JCPenney, and Sears. These anchors were central to the mall's original regional-shopping proposition, but most had departed by 2019 as department-store retail contracted.
Dining and communal space · 1979
Food court and Center Court
The original mall featured a sunken triangular food court, while the 1991 expansion added a larger food court and a palm-themed Center Court. These common areas functioned as gathering points and supported the mall's family-oriented regional-center identity.
Entertainment venue · 2013
Dave & Buster's
Dave & Buster's opened inside Cary Towne Center in 2013, providing arcade games, entertainment, and food. It remained associated with the redevelopment period after the mall closed and later relocated to a nearby former JumpStreet site.
Brand decisions
2021
Sell the mall property to Epic GamesM&ABackground
The mall had lost nearly all of its department-store anchors and was scheduled for closure and redevelopment.
Action taken
Epic Games purchased the property from Turnbridge Equities and Denali Properties for $95 million and announced plans for a headquarters campus.
Aftermath
The mall closed permanently, most of the structure was demolished in 2022, and the announced campus did not proceed on its original schedule.
Acquisition price. $95 million (January 2021)
2020
Propose Carolina YardsStrategyBackground
After acquiring the property, Turnbridge Equities and Denali Properties sought to replace the declining mall format with a mixed-use district.
Action taken
The owners announced Carolina Yards, a planned development with retail, residential, hotel, office, outdoor gathering, recreation, and event space.
Aftermath
The Carolina Yards concept was superseded when Epic Games acquired the property in January 2021.
2018
Pursue a mixed-use redevelopment anchored by IKEAStrategyBackground
CBL and the Town of Cary sought to reposition the aging mall as traditional department-store retail weakened.
Action taken
The redevelopment process included a proposed 350,000-square-foot IKEA store and a broader plan combining retail, housing, offices, hotels, and community spaces.
Aftermath
IKEA canceled its plans in 2018. CBL reported a mortgage default and proceeded toward a sale of the property.
2015
Explore alternative use for the former Sears spaceStrategyBackground
Sears closed its Cary location in the context of continuing corporate financial difficulties, leaving a large vacant anchor box.
Action taken
TopGolf sought zoning approval to occupy the space, but later withdrew the proposal because of concerns about lighting and noise near a residential area.
Aftermath
The space was later occupied briefly by Cary Towne Furniture rather than converted to the proposed entertainment and sports facility.
1991
Expand and rename the original mallGeneration changeBackground
The original Cary Village Mall faced a more competitive regional retail environment, including proposed development at nearby Crossroads Plaza.
Action taken
The Richard E. Jacobs Group expanded the center to approximately 1.1 million square feet and relaunched it as Cary Towne Center with additional anchors and upgraded common areas.
Aftermath
The project established the property as a major regional enclosed mall for the following decades.
Recent events
- 2025
Town of Cary withdraws inactive Epic Games zoning request[1]
Regulation
The Town of Cary withdrew the zoning request associated with the proposed Epic Games redevelopment after more than three years without activity.
- 2022
Demolition of Cary Towne Center is completed[1]
Other
Demolition began in March and was completed by the end of April, removing most of the former enclosed mall.
- 2021
Epic Games acquires Cary Towne Center[1]
M&A
Epic Games acquired the property from Turnbridge Equities and Denali Properties and announced plans for a headquarters campus with offices and recreational facilities.
- 2021
Cary Towne Center closes permanently[1]
Other
The mall closed on January 31, after Belk shut its store one day earlier. Dave & Buster's subsequently relocated to a nearby site.
- 2019
JCPenney announces Cary store closure[1]
Other
JCPenney announced that its Cary location would close on May 3 as part of a wider company plan to reduce its store base.
- 2019
Dillard's announces closure of Cary location[1]
Other
Dillard's announced that its Cary Towne Center store would close by December, removing another long-standing anchor.
- 2018
IKEA cancels planned Cary store[1]
Other
IKEA abandoned plans for a large store at Cary Towne Center, a reversal attributed to changes in the retail market and the broader retail downturn.
- 2016
Macy's closes at Cary Towne Center[1]
Other
Macy's closed its location after disappointing sales and earnings performance, further weakening the mall's department-store lineup.
- 2015
Sears closes its Cary Towne Center store[1]
Bankruptcy
Sears shut its mall location amid continuing financial difficulties at the corporate level, leaving a major anchor vacancy.
- 2015
TopGolf proposal for former Sears space is withdrawn[1]
Other
A proposal to place TopGolf in the former Sears space was withdrawn after concerns about lighting and noise from a nearby neighborhood.
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