Dallas-Based Cypress Equities Acquires Nord du Lac Shopping Center

by • April 4, 2016 • Acquisitions, Northshore, RetailComments (0)3047

Rendering via Nord du Lac Marketing Brochure

Rendering via Nord du Lac Marketing Brochure

The Nord du Lac retail and shopping destination has changed hands after its acquisition by Dallas-based Cypress Equities.

The seller was Birmingham-based Colonial Properties Trust.

 Gulf States Real Estate Services, which took over property management last year, will continue to handle leasing and management for the new owners.  The center’s tenants include Academy Sports, Hobby Lobby, Kohl’s and Petco.

The property’s 214,000 square feet is currently 96 percent leased.

“Our development plans for Covington Nord du Lac will further enhance the project’s appeal to future stores and restaurants,” Chris Maguire, CEO of Cypress Equities, said in a news release. Cypress plans to develop another 230,000 square feet in the future.

Cypress Equities has developed and acquired more than 18 million square feet and currently is developing and managing a portfolio of more than 13 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.

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