Fortnite buys a mall?

Epic Games the parent company of Fortnite has purchased the Cary Towne center in Cary, NC for $95 million.

The 87 acre, 749,075/sf shopping center will be redeveloped as a corporate campus. This is at the intersection of two trends in real estate, office users wanting a low rise workspace and malls losing tenants. I think we will be seeing more of these in the near future.

The redevelopment is expected to be complete by 2024.