Cypress Equities buys California retail property

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Chris Maguire is the CEO of Dallas-based Cypress Waters and SRS Real Estate Partners

Dallas-based Cypress Equities has bought a California retail property for an undisclosed amount as part of a diversification strategy.

The real estate development and investment firm purchased Glendale Marketplace, a 154,420-square-foot open-air retail center in Glendale, Calif.

This acquisition was a step in Cypress Equities strategy to develop, acquire and manage new and more diverse commercial properties throughout the U.S., CEO Chris Maguire said.

Dallas-based SRS Real Estate Partners, an affiliated company of Cypress Equities, will represent Cypress in leasing the property.

Cypress Equities is the 12th largest North Texas commercial developer, according to the Dallas Business Journal's latest research. In 2012, Cypress Equities was a finalist for the Dallas Business Journal's Best Real Estate Deals for its West 7th development in Fort Worth.

Candace covers commercial and residential real estate and sports business.

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