SPANISH FORT, Ala., March 8, 2022 /PRNewswire/ -- Cypress Equities, is excited to announce that it has sold the former JC Penney building and adjacent land located in Spanish Fort Town Center, to D.R. Horton, one of the largest homebuilders in the U.S. D.R. Horton plans to extensively renovate the existing building and will be relocating its S. Alabama - Gulf Coast regional offices to the facility. The facility will house more than 100 employees when renovations are complete. The headquarters will include D.R. Horton's sales team, designers, construction team, title, closing offices, and other corporate entities.
"We are very excited to have such a dynamic homebuilder like D.R. Horton moving their regional offices to Spanish Fort Town Center," said Cypress CEO, Chris Maguire. "Having a diverse mix of retail, restaurants, hotels, residential housing and now a large employment center brings stability and constant activity to the Spanish Fort Town Center. We look forward to welcoming our new neighbors when they move in soon and are excited to announce future businesses as they consider a new home at Spanish Fort Town Center."
The seller was represented by Angie McArthur of Stirling Properties and the purchaser was represented by Tim McCune and Brandon Wood of Corporate Realty Advisors (CRA) and Jeff Barnes of Stirling Properties.
Spanish Fort Town Center is a mixed-use shopping center and includes big box retail stores Bass Pro Shops and Kohl's. The center features a blend of national retailers, along with multi-family, residential units. Spanish Fort Town Center also offers Mandina's restaurant, Urban Air Adventure Park, Oishi Japanese Sushi Bar and Grill, First Choice Wellness, Cavender's Western Wear, and Total Quality Logistics. In 2019, the center welcomed, a vibrant – yet casual – dining and entertainment destination composed of repurposed shipping containers situated adjacent to the center, named The Fort Park.
About Cypress Equities* (Cypress)
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 United States. Historically, Cypress has developed and acquired more than 20 million square feet and currently is developing and managing a portfolio primarily focused on retail and mixed-use properties. Today, there are three Cypress Equities offices in the U.S., including Dallas (headquarters), New York, San Francisco and Atlanta. Visit www.cypressequities.com for more information.
* The Cypress Equities name, logo and other marks are trademarks and service marks being licensed to independent operating companies by CE Brands, LLC. Any particular obligation, service or product is the sole responsibility of the specific entity that incurs such obligation or supplies such service or product.
SOURCE Cypress Equities