Triangle Town Center

Triangle Town Center is a shopping mall in Raleigh, North Carolina. It is located in North Raleigh off U.S. Highway 1 (Capital Boulevard) and Interstate 540. The current anchors at the mall are Saks Fifth Avenue, Dillard's, Macy's, and Belk.

Triangle Town Center
LocationRaleigh, North Carolina, USA
Opening dateAugust 2002
DeveloperJacobs/CBL Properties[1]
OwnerKohan Retail Investment Group[2]
No. of stores and services120[3]
No. of anchor tenants4
Total retail floor area1,272,263 sq ft (118,197.1 m2)[4]
No. of floors2
Websitetriangletowncenter.com
The Commons
East Entrance

History

Triangle Town Center opened in August 2002 with anchors Hudson Belk, Sears (closing in October 2021),[5] Dillard's, and Hecht's (now Macy's). Construction of the mall required re-routing of existing roads.[6] Saks Fifth Avenue, the state's first, opened later in 2004. The mall features a two-level Barnes & Noble, which serves as a junior anchor.

On October 10, 2018, a water main broke causing the mall to evacuate and close early. The mall reopened a week later, with some stores closing for several months for renovations, including H&M, Kay Jewelers, and Zales Jewelers.[7] On August 6, 2021, it was announced that Sears would be closing by October 10, 2021.[8] Kohan Retail Investment Group purchased the mall in November 2021 for $33.25 million.[2]

Anchors

Former Anchors
  • Sears 144,846 sq ft (13,456.6 m2) (Closed Sunday, October 10th, 2021)

Foreclosure

On July 2, 2019, CBL and Associates, the previous owner of Triangle Town Center, was "heading into foreclosure" after defaulting on the mall's $171 million loan.[10] The first bids for the mall were made on July 11, 2019.[11] It was purchased by LNR Partners [12]

References
  1. "News".
  2. Harshberger, Caleb (November 16, 2021). "Triangle Town Center sold again – but at fraction of previous price". Triangle Business Journal. Retrieved 22 November 2021.
  3. "All Stores". Triangle Town Center.
  4. "Fact Sheet".
  5. "Temp Backroom Associate $11/HR up to 40hrs/Wk! Store Closing-Raleigh".
  6. "Triangle Town Center to Open in 2002". 27 June 2000.
  7. "Triangle Town Center to Close Early Because of Water Main Break".
  8. "Temp Cashier $11/HR up to 40hrs/Wk! Store Closing-Raleigh".
  9. "Triangle Town Center Directory Map". Retrieved 2 October 2012.
  10. By. "Triangle Town Center heading for foreclosure after owners default on $171 million loan". heraldsun. Retrieved 2019-07-02.
  11. By (11 July 2019). "Triangle Town Center up for auction". cbs17. Retrieved 2019-07-23.
  12. "LNR Partners buys Raleigh, NC, shopping mall for $120.4M". Retrieved 2019-10-21.

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