Cypress Equities Sells Crystal Falls Town Center to Cali Buyer

Cypress Equities sold Crystal Falls Town Center, a 94,820-square-foot, grocery-anchored shopping center in Leander, TX, north of Austin. The Dallas developer, who built the center located at 3441 Lakeline Blvd., sold the asset to a TIC under the direction of ACF Property Management Inc., which is located in Studio City, CA.

CBRE’s Chris Cozby, Jim Batjer, Blaine Dozier and Mark Witcher represented the seller in the transaction. The center, situated on 13 acres and anchored by a Randall’s grocery store, delivered in 2016, and is 99% occupied. Tenants include GNC, Starbucks, Orangetheory and Sprint.

Leander is considered one of Texas’ fastest-growing cities, with a 170% increase in population growth since the year 2000.

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