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 Belk, Dillard's, Macy's, and Saks Fifth Avenue. A fifth anchor, Sears, closed in 2021. The store itself sits vacant as of January 2023.

Triangle Town Center
LocationRaleigh, North Carolina, USA
Opening dateAugust 14, 2002[1]
DeveloperJacobs/CBL Properties[2]
OwnerKohan Retail Investment Group[3]
No. of stores and services120[4]
No. of anchor tenants5 (4 open, 1 vacant)
Total retail floor area1,272,263 sq ft (118,197.1 m2)[5]
No. of floors2
Websitetriangletowncenter.com
The Commons
East Entrance

History

Triangle Town Center opened on August 14, 2002[6] with anchors Hudson Belk, Sears (closed October 2021),[7] Dillard's, and Hecht's (now Macy's). Construction of the mall required re-routing of existing roads.[8] 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.[9] Those stores never reopened per news released from their parent companies that they were closing stores due to the COVID-19 pandemic.[10][11] On August 6, 2021, it was announced that Sears would be closing by October 10, 2021.[12] Kohan Retail Investment Group purchased the mall in November 2021 for $33.25 million.[3]

Anchors

Former anchors
  • Sears 144,846 sq ft (13,456.6 m2) (Closed Sunday, October 10th, 2021)
  • Hecht's (became Macy's in 2006)

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.[14] The first bids for the mall were made on July 11, 2019.[15] It was purchased by LNR Partners [16]

References
  1. WRAL (2002-08-14). "Shoppers Pleased With Variety Of Stores At Triangle Town Center :". WRAL.com. Retrieved 2022-08-19.
  2. "News".
  3. Harshberger, Caleb (November 16, 2021). "Triangle Town Center sold again – but at fraction of previous price". Triangle Business Journal. Retrieved 22 November 2021.
  4. "All Stores". Triangle Town Center.
  5. "Fact Sheet".
  6. WRAL (2002-08-14). "Shoppers Pleased With Variety Of Stores At Triangle Town Center :". WRAL.com. Retrieved 2022-08-19.
  7. "Temp Backroom Associate $11/HR up to 40hrs/Wk! Store Closing-Raleigh".
  8. "Triangle Town Center to Open in 2002". 27 June 2000.
  9. "Triangle Town Center to Close Early Because of Water Main Break".
  10. "H&M is closing 250 stores due to COVID-19". ABC11 Raleigh-Durham. 2020-10-01. Retrieved 2022-08-15.
  11. Tyko, Kelly. "Signet Jewelers, Kay and Zales parent company, says it won't reopen 150 stores, plans to close more locations". USA TODAY. Retrieved 2022-08-15.
  12. "Temp Cashier $11/HR up to 40hrs/Wk! Store Closing-Raleigh".
  13. "Triangle Town Center Directory Map". Retrieved 2 October 2012.
  14. By. "Triangle Town Center heading for foreclosure after owners default on $171 million loan". heraldsun. Retrieved 2019-07-02.
  15. By (11 July 2019). "Triangle Town Center up for auction". cbs17. Retrieved 2019-07-23.
  16. "LNR Partners buys Raleigh, NC, shopping mall for $120.4M". Retrieved 2019-10-21.

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