Dallas, TX, Feb. 03, 2025 (GLOBE NEWSWIRE) -- Cypress Equities, a national real estate investment and development firm, announced that it will lead the redevelopment of the Monroeville Mall, a significant commercial hub located in the eastern trade area of Pittsburgh, Pennsylvania.
The 1.2 million square foot property sits on 186 acres fronting Highway 22, a dense, major commercial corridor, and benefits from unparalleled connectivity with Interstates 76, 376, and Route 22. CBL Properties recently sold the property to an undisclosed buyer.
Cypress Equities will manage the property on behalf of the buyer and lead the efforts to re-imagine Monroeville Mall into a new retail and commercial destination. The property is well suited for a major redevelopment and repositioning into a mix of uses including retail and entertainment, restaurants, residential, hospitality, office, and public spaces.
With extensive experience in redeveloping underutilized malls and commercial centers, Cypress Equities will provide the vision to revitalize the property to conform to today's retail and commercial standards of excellence.
"We are excited to embark on this transformative project and bring a new vision to Monroeville Mall,” said Chris Maguire, CEO of Cypress Equities. "We believe this redevelopment will create a vibrant and dynamic destination that serves the community and drives economic growth in the region.”
"We are thrilled to have Cypress Equities join our community and look forward to their vision to reimagine the Monroeville Mall,” said Dr. Nicholas J. Gresock, Mayor of Monroeville. "I'm optimistic their long-term plans are going to have a very positive impact on Monroeville."
CBL Properties was represented in the transaction by JLL, and Tom Flynn at CBRE represented the buyer.
About Cypress Equities
Cypress Equities (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. Cypress Equities offices in the U.S. are located in Dallas (headquarters), Atlanta and Fort Lauderdale. Visit www.cypressequities.com for more information.
CONTACT: Tracy Cobb
Cypress Equities
214-561-8824
