Rumor has it…Ikea might be coming to Cary. Incidentally Cary Towne Center is announcing that it is planning a major redevelopment for the mall and is in discussion with a “very recognizable and in-demand retailer. We will keep an eye on this development. Stay tuned.
“The top executives for Cary Towne Center mall are lining up the cards for what is expected to be a “game-changing redevelopment” for one of Cary’s most prominent retail centers.
On a conference call with analysts and shareholders last week, Farzana Mitchell, chief financial officer and treasurer of mall owner CBL & Associates Properties Inc. (NYSE: CBL), stated very clearly that CBL is actively pursuing options for redevelopment of the Cary Towne Center mall property. “This property is well-located in the market, and … we’ll announce more details as we make progress on the redevelopment plans,” Mitchell said, according to a transcript of the call published by Seeking Alpha.
Cary Towne Center mall located at 1105 Walnut St. in Cary was built in 1979 and is a subject of a redevelopment plan by the mall’s ownership, CBL & Associates Properties.
Cary Towne Center mall located at 1105 Walnut St. in Cary was built in 1979 and is a… more
Mitchell also stated that negotiations are underway with a “very recognizable and in-demand retailer.”
Mitchell did not disclose the identity of the retailer, and a follow-up call with CBL spokeswoman Stacy Keeting yielded no new information about the plan in Cary…..” as reported by Triangle Business Journal.