Cypress Equities acquired a 604,000-square-foot enclosed mall, a 41,900-square-foot retail center and a 170,000-square-foot office building through the purchase of Brookwood Village in the affluent Mountain Brook area of Birmingham, AL.
The company’s portfolio now includes anchor tenants such as Macy’s and Belk and a 98% leased office building featuring PWC and Merrill Lynch.
"The acquisition of Brookwood Village is another great step in Cypress’ plans to develop, acquire and manage new and more diverse retail commercial properties throughout the country," added Chris Maguire, CEO of Cypress Equities and SRS Real Estate Partners. "Steady growth in the market, bolstered by Birmingham’s expanding biotechnology sector and diversified economic base have contributed to our decision to invest in this premier lifestyle destination."
Scott Tiernan, Kyle Stonis and Pierce Mayson of SRS Real Estate Partners represented the buyer. Martin Smith, also with SRS, will assist the buyer with leasing.
Please see CoStar Comp #2994085 for more information on this transaction.