Cypress Disposes of Longs Surplus Property

Cypress Retail Group has completed the sale of a + 32,100 SF surplus property for Longs Drug Stores. The property, located just east of the northeast corner of Fairview Street and Edinger Avenue, was not needed by Longs and they hired Cypress Retail Group to market and sell the property. After receiving 8 offers at more than full price, Cypress procured the most qualified Buyer for the property who closed escrow in Mid-July of 2005. The Buyer intends to develop a retail center on the property.