Does anyone know what's going on with the Lowe's shopping center at High House and Cary Parkway? (rent)
Raleigh, Durham, Chapel Hill, CaryThe Triangle Area
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It's the center that has Lowe's and Fitness 19 in it.
In the last year, they have had several of the stores close (Pizza Hut, Mitchells, Pink Yogurt ) on top of the vacancy from years ago (The Toy Chest). Then, I was surprised to find out that El Dorado also closed, due to the landlord raising their rent. I wasn't a regular of El Dorado's, but they were a busy restaurant, and it seems odd that the landlord would raise the rent with so many vacancies in the center. So now, it seems the only tenants are Lowes, Fitness 19, the dry cleaners, NY Bagel, and Thai Spices (which I really enjoy going to a few times a month, so I hope they don't close!).
If there wasn't so many new developments within 2 miles of this location, I would think that the landlord is getting ready to redevelop that corner. But that makes no sense, given that there is already too much retail space currently on the market in western Cary.
No insight but an observation-
Ingress and egress from that location is awful. It is at a major corner in the epicenter of one of Cary's largest concentrations of wealth and I don't think people want to drive in and out of there. I don't.
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