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Newmark Facilitates $50M Sale of Cypress Creek Town Center Portfolio
Newmark has announced the $49.6 million sale of Cypress Creek Town Center Portfolio, a 240,211-square-foot shopping center in the Tampa metro area. The four parcel-property – 25557, 25662, 25426 and 25750 Sierra Center Blvd. in Lutz, FL – is anchored by Total Wine, Hobby Lobby, Burlington, HomeGoods, Badcock Furniture and Dollar Tree.
The retail center is in a high-growth market near Interstate 75. It is 100-leased and was sold by Tennessee-based Hutton to an undisclosed buyer. Newmark Senior Managing Directors Drew Fleming facilitated the sale transaction on behalf of the seller.
“With the closing of this transaction, Newmark, alongside Hutton, are gratified to have secured a complimentary buyer for this world-class asset,” said Fleming. “We appreciate the opportunity to work alongside both parties throughout this transaction and are pleased with the win-win outcome. We look forward to witnessing continued milestones at Cypress Creek and to growing our relationship with Hutton.”
- ◦Sale/Acquisition

