|Day's Range||7.80 - 8.07|
|52 Week Range||7.15 - 14.30|
|PE Ratio (TTM)||11.06|
|Earnings Date||Jul 26, 2017 - Jul 31, 2017|
|Dividend & Yield||1.06 (13.50%)|
|1y Target Est||10.27|
The owners of Cary Towne Center mall, with a deal with Ikea in place, envision the next step in reviving the mall as a mixed-use development. The building plans are contingent on the Cary Town Council approving the site’s rezoning application.
CBL & Associates Properties, Inc. today announced future plans to transform Cary Towne Center in Cary, North Carolina, into a dynamic mixed-use destination. Last week’s announcement by IKEA of its proposal to build a store adjacent to Cary Towne Center provides a keystone attraction for the project and a catalyst for its redevelopment.
Ikea, the Swedish home furnishings retailer, has confirmed plans to open a store at the Cary Towne Center mall. If building plans are approved, the Ikea Cary store could open as early as summer 2020. “We are excited about the opportunity for a potential second North Carolina IKEA store at this location in Cary,” stated Ikea U.S. president Lars Petersson.