Newmark has announced the 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 located near Interstate 75 in a high growth market and was sold for $49.6 million to an undisclosed buyer by Tennessee based Hutton with Newmark Senior Managing Director Drew Fleming facilitating on behalf of the seller.
“We are gratified to have secured a complimentary buyer for this world class asset alongside Hutton,” said Fleming “and we appreciate having been given the opportunity to work with both parties throughout this transaction resulting in a win-win outcome.” He added that they look forward to witnessing continued milestones at Cypress Creek as well as growing their relationship with Hutton further down the line
