Cary Town Center / Triangle Town Center - slow death

There was a place called the Fox and Hound there too if I am remembering correctly. Had English decor and dishes and a little on the pricey side, but great food.

 

They have reached out to the Food Truck folks and moved two of them into the food court. Porchetta has some great pork tacos, but they are a little smaller. I forget the name of the other one, but it specializes in various grilled cheese sandwiches. Their pig and fig is great.

 

For the people that live in Durham I hope you are correct. But when a place like Five Guys bails it makes one wonder!

 

I've heard of the fox and hound. never been. I think seldom blues was around 91 / 92. Seldom blues was in cary, waverly pt I'm pretty sure. Ain't that the place that got demolished or whatever?

 

I think you might be talking about Red Hot & Blue. Funny thing is that they are still there. Been at least 15 years I know of.

I know the Fox and Hound used to be in MacGregor Village. Had great fish and chips. I heard they eventually moved to Raleigh. There used to be a great New York style deli in MacGregor along with a steakhouse and Tony's Oyster Bar also.

 

no. not red hot and blue. It was a hi end restaurant at waverly place in cary. Ain't waverly place the cary mall that got dozed? been a long time

 

Yes, my memory failed me on the location.

 

Nope, it's still there. Corner of Tryon Rd and Kildaire Farm Rd. Red Hot and Blue is still there serving up bbq while listening to blues music in the background. Don't know what it has evolved into but it used to be a nice place to spend an evening at.

 

I agree, Southpoint is usually busy. compared to Triangle Town not many empty stores at all. the exterior part is very alive. the food court has many new local places. the Porchetta opened. they are a food truck ith amazing sandwiches. another new local food place opened also.

 

Triangle Town Center owners avoid default, and sell property to new owners.

http://www.bizjournals.com/triangle...-174m-for-majority-ownership-in-raleighs.html

 

$171M in debt is crazy. I don't see how they can turn that around and turn a profit eventually.

 

I think the $174 Million buy included the $171 million in debt. So that bought the mall for the debt, plus $3 Million. Plus they say they are going to invest a lot in the mall. I bet a lot of the tenants there are right on the edge, and if a the new owners raises rent per square foot others could close.

 

Baby Boomers can be Grandmothers now! (Click above to read last paragraph)

 

Newsflash, Red Hot and Blue went away in 07 and just came back last year. It was OOB for nearly a decade guys. The Waverly Place revival brought them back. As an aside, went to one in Chapel Hill a couple times as a student, was never impressed. For anyone who grew up with either Eastern OR Western NC BBQ, whatever the hell they make doesn't remotely compare. "Brisket?" No thanks, I'll take my Speedy's or Smithfields.

 

After Ikea backed out from Cary Town I heard the owners declared bankruptcy. I've heard of other malls turning old Sears/Macys etc. into retirement homes/apartments. Northgate in Durham is turning the former Macy's into the Duke Medical offices/call center. Either of those would bring traffic into the mall, and rent at least. I think it'll get down to 1 mall per town. Crabtree will survive, Streets of Southpoint will too. Others will have to be creative to survive.

 

With the Microsoft store and Apple store South Point will be fine. I do think it'll come down to 1 mall per decent sized town. Durham will have South Point, Raleigh will have Crabtree. small towns like Wilson will have malls close. the rest will be outdoor shopping centers.

Malls will have to have specialty stores to draw traffic. Like Microsoft/Apple/ etc.

 

Sears announced yesterday it is closing their Crabtree store!

https://abc11.com/shopping/crabtree...uidation-sale-could-begin-next-week-/4033493/

I invested in an ETF (sym:CLIX) about a year ago that plays retail short and online long. Been a great investment so far.

 

I guess when Crabtree bought the store from Sears a few months ago, they knew this was coming, and wanted control of the space and not have to deal with another property owner.
I wonder if they will demo and do some more parking with some smaller stores, or turn whole store into more small stores?

 

There needs to be an inexpensive bus route from the 40-42 area to all the Malls and local cities. There would be a lot more customers!!

 

Triangle bus has a route from I think Clayton, and has carpools to RTP daily. Not sure on times and weekends. But its something.