Crossroads Plaza
An open-air shopping center in Cary, North Carolina, with more than 60 national and locally operated stores.
Last updated August 25, 2026
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Overview
Crossroads Plaza is an open-air shopping center in Cary, North Carolina, United States. It serves the Raleigh–Cary area with a broad mix of big-box retailers, specialty stores, restaurants, services, and locally operated businesses. The center occupies part of a much larger 237-acre commercial site that was originally conceived as a major mixed-use development containing an enclosed regional mall, office space, and a hotel. The development story reflects a major change in American retail real estate during the late 1980s and early 1990s. NCNB, now part of Bank of America, acted as trustee for the Public Employees Retirement System of Ohio and engaged LJ Hooker Corporation to develop the northern portion of the property. In 1988, LJ Hooker proposed a conventional two-level enclosed mall with approximately 1.35 million square feet of retail space, five department-store anchors, a large glass-roofed central court, and nearly 6,900 parking spaces. Road and site work began, but the project was halted when the recession and LJ Hooker's financial problems led to the company's bankruptcy in 1989. New Market Development subsequently acquired the site and submitted a substantially different plan in 1990. Rather than an enclosed mall, the revised concept used a large power-center format: approximately 628,610 square feet of retail space, 11 major anchor tenants, smaller stores around the perimeter, and surface parking concentrated in the center. This design reduced the planned retail area but created one of the larger open-air retail centers of its era. The center opened in the early 1990s, with sources commonly identifying the opening as 1991 and some descriptions dating the completed shopping center to 1992. The original tenant roster included Toys "R" Us, Uptons, Stein Mart, Bookstar, Pet Depot, Marshalls, REI, OfficeMax, Home Quarters Warehouse, Phar-Mor, and later Service Merchandise. Over time, the center's tenant mix changed as retailers were acquired, restructured, or went bankrupt. Former anchor and large-store spaces were reoccupied by businesses including Best Buy, Dick's Sporting Goods, Bed Bath & Beyond, Bob's Discount Furniture, DSW, A.C. Moore, Michaels, Old Navy, Petco, HomeGoods, Ross, Home Centric, Hobby Lobby, and other national chains. These changes have allowed the property to remain relevant despite the decline of several original retail formats. Kimco Realty acquired Crossroads Plaza in 2014 and also owns the adjacent Centrum at Crossroads shopping center. The property is part of a larger retail cluster that developed around it after its opening. Nearby shopping destinations have included grocery-anchored and discount-oriented centers, while Cary Towne Center, once approximately one mile away, closed in 2021. Crossroads Plaza remains an active shopping destination focused on convenience, value-oriented merchandise, home goods, apparel, electronics, sporting goods, pets, crafts, and everyday services.
History
The Crossroads Plaza site covers approximately 237 acres in Cary, North Carolina. Its initial development concept was substantially larger and more conventional than the shopping center that exists today. NCNB, now part of Bank of America, served as trustee for the Public Employees Retirement System of Ohio and planned a mixed-use commercial project that would include an enclosed shopping mall, roughly 250,000 square feet of non-retail space, a corporate park, and a hotel. NCNB hired LJ Hooker Corporation to develop approximately 87.7 acres at the northern end of the site. In 1988, LJ Hooker filed plans for a $240 million enclosed regional mall with about 1.35 million square feet of retail space on two levels. The proposed complex would have included five department stores, a 65-foot glass-roofed center court enclosing approximately 1.5 acres, and 6,853 parking spaces. Local officials expected the project to increase Cary's tax base substantially. Site clearance and road construction began, but the development was interrupted by a national recession and LJ Hooker's financial collapse. The company declared bankruptcy in late 1989, ending the original mall plan. New Market Development purchased the mall site and submitted a redesigned proposal in 1990. The replacement concept abandoned the enclosed regional-mall format in favor of a power center with approximately 628,610 square feet of retail space. Eleven large stores and smaller shops would line the edges of the property, while about 3,458 parking spaces would occupy the central area. Although the revised scheme provided roughly half the retail area of the earlier proposal, it was unusually large for an open-air retail center at the time and reflected the growing appeal of big-box and convenience-oriented formats. Crossroads Plaza opened in the early 1990s, generally identified in historical accounts as opening in 1991, with an initial roster that included Toys "R" Us, Uptons, Stein Mart, Bookstar, Pet Depot, Marshalls, REI, OfficeMax, Home Quarters Warehouse, Phar-Mor, and later Service Merchandise. The property has been expanded and renovated several times since its opening. Its tenant history illustrates the changing structure of American retail. Bookstar disappeared after its acquisition by Barnes & Noble, while Home Quarters, Phar-Mor, Service Merchandise, Uptons, and other early tenants were replaced by newer national chains. Large-format spaces were later occupied by retailers such as Dick's Sporting Goods, Bed Bath & Beyond, Best Buy, DSW, Michaels, Old Navy, Petco, HomeGoods, Ross, Home Centric, and Hobby Lobby. The A.C. Moore space was subsequently divided between Aerie and American Eagle Outfitters. Toys "R" Us closed in 2018 during the chain's liquidation, and Hobby Lobby moved into that space in February 2020. Bed Bath & Beyond closed after its 2023 bankruptcy, with Bob's Discount Furniture taking over the location. Kimco Realty acquired Crossroads Plaza in 2014 and also owns the adjacent Centrum at Crossroads. Additional shopping centers developed nearby after Crossroads Plaza opened, creating a broader retail district with grocery, discount, and specialty competitors. Cary Towne Center, located about one mile away along Walnut Street, closed in 2021. Crossroads Plaza continues to operate as an open-air shopping center serving Cary and the surrounding Raleigh-area market.
- 2023
Bed Bath & Beyond space re-tenanted
[1]Bed Bath & Beyond closed following its bankruptcy, and Bob's Discount Furniture subsequently replaced it.
- 2020
Hobby Lobby opened
[1]Hobby Lobby occupied the former Toys "R" Us space.
- 2018
Toys "R" Us closed
[1]The Toys "R" Us store closed during the chain's nationwide bankruptcy liquidation.
- 2014
Kimco Realty became owner
[1]Kimco Realty purchased Crossroads Plaza and also owned the neighboring Centrum at Crossroads property.
- 1991
Crossroads Plaza opened
[1]The open-air shopping center began operations with a roster of national retailers including Toys "R" Us, Stein Mart, REI, Marshalls, OfficeMax, and Phar-Mor.
- 1990
Power-center redesign approved
[1]New Market Development proposed a substantially smaller but still unusually large open-air power center with big-box anchors and surface parking.
- 1989
Original mall project halted
[1]Construction-related work stopped after a recession and LJ Hooker's bankruptcy brought the original enclosed-mall proposal to an end.
- 1988
Enclosed regional mall plans filed
[1]LJ Hooker proposed a two-level, approximately 1.35-million-square-foot enclosed regional mall with five department-store anchors and a large glass-roofed central court.
Products and positioning
A large, convenience-oriented open-air power center serving Cary and the greater Raleigh area through a broad tenant mix of national chains and local businesses.
Big-box retail
Large-format retail stores
Crossroads Plaza is organized around large-format stores rather than a traditional enclosed-mall department-store structure. Current and former tenants have covered home furnishings, electronics, sporting goods, apparel, crafts, discount merchandise, and other high-volume categories. The large stores are a defining feature of the center's power-center format.
Fashion retail
Apparel and accessories
The center has hosted a changing selection of apparel and accessory retailers, including Old Navy, Aerie, and American Eagle Outfitters. These stores complement the property's value-oriented and mainstream shopping mix and occupy both original and subdivided large-store spaces.
Home furnishings
Home and furniture retail
Home-related merchandise has been a recurring part of Crossroads Plaza's tenant mix. Retailers associated with the center have included HomeGoods, Bed Bath & Beyond, and Bob's Discount Furniture, providing furniture, décor, housewares, bedding, and related household products.
Specialty retail
Specialty and hobby retail
Specialty shopping has included craft, hobby, pet, book, and sporting-goods businesses. Hobby Lobby, Petco, Dick's Sporting Goods, and the former Bookstar and REI locations illustrate the center's ability to accommodate destination-oriented retailers alongside everyday shopping.
Brand decisions
2014
Kimco Realty acquired the shopping centerM&ABackground
Crossroads Plaza was operating as an established open-air retail center within a growing Cary shopping district.
Action taken
Kimco Realty purchased Crossroads Plaza and held the adjacent Centrum at Crossroads property.
Aftermath
The two neighboring centers became part of a related Kimco-controlled retail cluster.
1990
Replaced the enclosed-mall plan with a power-center formatStrategyBackground
The original enclosed regional mall proposal was disrupted by recession-related conditions and the bankruptcy of developer LJ Hooker.
Action taken
New Market Development redesigned the project as a large open-air center with big-box anchors, perimeter storefronts, and centralized surface parking.
Aftermath
The redesigned project opened in the early 1990s and established the format that continues to define Crossroads Plaza.
Sources2 sources
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