(Phoenix) November 6, 2006 –– Staubach Retail announces that SmithCypress Partners has purchased 24 acres of land at the northwest corner of Southern and 35th Avenue in Laveen, Arizona. Dave Cheatham and Darren Pitts of Staubach Retail’s Phoenix office represented SmithCypress in the transaction. A 240,000 square foot shopping center will be developed by SmithCypress Partners’ Emmitt Smith. The 81,200 sf anchor lease is signed and multiple additional leases are in negotiations. The project is expected to open in the fall of 2007.
Emmitt Smith is president of SmithCypress Partners, a joint-venture of Emmitt Smith and Cypress Equities, the acquisition and development affiliate of Staubach. SmithCypress Partners offers development and capital services including build-to-suits, project development and other development services specific to the needs of local and nationally recognized retailers. As president, Smith combines his "get-it-done" commitment and relationship-building skills with the development experience and proven success of Cypress Equities.
Formed in 1995, Cypress Equities is the acquisition and development affiliate of Staubach. Cypress Equities focuses on projects ranging in scope from mid-sized (15,000 square feet or larger) to large-scale (1,000,000 square feet or larger) retail centers. With development offices in Dallas, Atlanta, New York, Phoenix and San Francisco, it is an independent company with a dedicated staff that focuses on retail development, portfolio acquisitions, build-to-suits, sale-leasebacks and other development services for retail, mixed-use and automotive properties. For more information, go to www.cypressequities.com.