Cypress Equities closed on 11.17 acres at the southwest corner of Williams Dr. and Jim Hogg Rd. in the Austin suburb of Georgetown, TX where the firm plans to develop a 77,050-square-foot shopping center dubbed Oak Meadows Marketplace.
Already set to anchor the new development is Randalls Food and Drug, which signed a lease to occupy 57,655 square feet in the center. Cypress is currently in negotiations with several other retailers and restaurant tenants.
Construction on Oak Meadows Marketplace is slated to begin in January 2017 and wrap up in November. SRS Real Estate Partners in Austin has been tapped to handle leasing on behalf of ownership.