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home / news releases / BPYU - Mall rethink? Epic spends Fortnite cash on new HQ

BPYU - Mall rethink? Epic spends Fortnite cash on new HQ

Brookfield Property REIT Inc.
The coronavirus pandemic is turning struggling malls into new kinds of real estate. Latest? The company behind popular videogame Fortnite, Epic Games, is shelling out $95M for the Cary Towne Center mall in North Carolina, converting it into its new global headquarters. Epic plans to open the new 980K-square-foot campus by 2024, which would nearly quadruple the size of its current property.Will there be videogame tournaments at the new HQ? Epic hasn't yet offer details, but it's considering including space for use by the local community.Thought bubble: While many businesses are aiming to downsize their office space and welcome work-from-home policies, others are looking for good deals to make new and larger office locations as a part of their future. Underperforming malls could also become attractive acquisition targets for investors aiming to convert them into residential units or warehouses.Some recent examples: In West Los Angeles, Calif., the Westside Pavilion is

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Mall rethink? Epic spends Fortnite cash on new HQ
Stock Information
Company Name: Brookfield Property REIT Inc.
Stock Symbol: BPYU
Market: NASDAQ
Website: bpy.brookfield.com
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