Shopping center near Tampa Premium Outlets sells for $49.6 million
By Ashley Gurbal Kritzer
Tampa Bay Business Journal
Published: Jul 25, 2023

A Lutz retail property anchored by Total Wine and More, Hobby Lobby and Five Below has sold for $49.6 million.

Cypress Creek Town Center is in the hands of a new owner, Newmark said Tuesday. Drew Fleming, senior managing director at Newmark, represented the seller, Hutton, in the transaction. Newmark did not disclose a buyer.

“With the closing of this transaction, Newmark, alongside Hutton, are gratified to have secured a complimentary buyer for this world-class asset,” Fleming said in a statement. “We appreciate the opportunity to work alongside both parties throughout this transaction and are pleased with the win-win outcome. We look forward to witnessing continued milestones at Cypress Creek and to growing our relationship with Hutton.”

The 240,211-square-foot center is comprised of four parcels and is 100% leased, according to Newmark.

Cypress Creek Town Center is across State Road 56 from Tampa Premium Outlets, an open-air outlet mall that has become a regional shopping destination.

It is the second major Pasco County retail property to trade in recent months. Shops at Wiregrass sold in April for $70.5 million.