Cypress Equities companies* announced today that it has closed on the acquisition of approximately 11.17 acres located at the southwest corner of Williams Drive and Jim Hogg Road in Georgetown, TX. This parcel will be the site of the new Oak Meadows Marketplace.

Oak Meadows Marketplace will be a grocery-anchored complex, encompassing 77,050 square feet of retail and restaurant space. Randalls Food and Drug has an executed lease for 57,655 square feet and will be the project anchor. Cypress is currently undergoing negotiations with additional retail and restaurant tenants.

“The surrounding area demographics made this acquisition an attractive addition to the Cypress portfolio,” said Chris Maguire, chief executive officer for Cypress Equities. “Along with the commitment from Randalls as a strong grocery anchor for Oak Meadows Marketplace.”

Construction on Oak Meadows Marketplace is estimated to begin in January of 2017, with a completion date slated for November of 2017. SRS Real Estate Partners in Austin will be conducting leasing for the center.

About Cypress Equities

Cypress Equities* (Cypress) was founded in 1995 and has since established a national reputation synonymous with the premier development, operation and management of destination-class retail and mixed-use properties throughout the U.S. Cypress has developed and acquired more than 20 million square feet and currently is developing and managing a portfolio of more than 15 million square feet of space, primarily focused on retail and mixed-use properties. Today, there are seven Cypress Equities offices throughout the U.S., including Dallas (headquarters), Chicago, New York, San Francisco, Atlanta, Phoenix and Fort Lauderdale. Visit www.cypressequities.com for more information.