Cypress Equities acquires Lake Pleasant Crossing

Dallas -- Cypress Equities companies announced that Cypress Lake Pleasant, LP, a new affiliated partnership, has purchased the fee simple interest in the Lake Pleasant Crossing shopping center in Peoria, Arizona.



Cypress previously held a ground lease interest in the property, having developed the existing shopping center and Lowe’s Home Improvement Center on the site. With the purchase, Cypress is in the process of making several upgrades to the existing center as well as planning for the second phase of development.



Lake Pleasant Crossing is a 199,358-sq.-ft. power center located at the premier retail intersection of Happy Valley Road and Lake Pleasant Road.



The retail center is anchored by Lowe’s Home Improvement Center and includes other national tenants such as US Bank, Wells Fargo and Papa John’s. Lake Pleasant Crossing serves the far Northwest Valley including Vistancia, Camino a Lago and West Wing Mountain Ranch.