Epic Games buys new headquarters in North Carolina

Epic Games announced that it has reached an agreement to purchase the Cary Town Center in Cary, North Carolina, and plans to turn the site into its new headquarters by 2024. The site, which served as a shopping mall, cost the Fortnite developer $ 95 million, according to public records.

The site was purchased by Turnbridge Equities and Denali Partners in February 2019 for $ 31.5 million. The mall was recently renovated and was due to be converted into Karolinsky Dvor prior to the announcement of the sale.

Epic Games announced in its release that it plans to begin development of the property later this year. It's unclear what the company plans to do with its current Cary property, or whether it plans to move its studio and Rocket League developer, Psyonix Studios, to that location as well.

Epic Games is partially owned by Tencent Holdings, co-founded and CEO of which is Tim Sweeney, who owns a majority stake in the company. She also owns Psyonix Studios and is the creator of Unreal Engine, a software development platform used by games like PUBG Mobile.

The company also said in its announcement that it plans to work with the City of Carey to allow it to use some of the space for operations that benefit the local community.