**Former Raleigh Kmart Repurposed, Nearly Fully Leased**
CityPlat has taken over the site of the former Kmart in Raleigh, which closed its doors in 2018, and is transforming the property into a sports and entertainment-themed venue. The redevelopment includes a variety of new tenants such as a billiards and bowling facility, an indoor golf center, a basketball facility, and the latest addition—a Gold’s Gym.
The property, acquired for $14 million, has seen rapid uptake from new tenants. Less than a year after the purchase, only one of the spaces remains available for lease. CityPlat has invested between $5 million and $6 million in renovations to modernize and repurpose the former retail location.
Additional tenants include Nail Lab, a popular beauty spa that features a full beverage bar. In a strategic move, CityPlat will also be relocating its own headquarters to the redeveloped property, moving from its current location at 107 Fayetteville Street in downtown Raleigh.
The first businesses are expected to open in the second quarter of next year, with full completion of the center anticipated by the end of 2026.
