CYPRESS EQUITIES ANNOUNCES JOINT VENTURE WITH KETTLER TO BUILD THE VILLAGE OF LEESBURG

Dallas, TX -- Cypress Equities, an affiliate of Staubach Retail, has announced plans to create a joint venture with Kettler, formerly KSI Services, Inc., one of the Washington DC area’s leaders in diversified real estate development and property management. Working together, the two firms will develop The Village of Leesburg in Leesburg, Virginia, a mixed-used project which will include retail, office, restaurants and residential.

Cypress Equities will develop the retail portion of the village center, which will be home to such prominent national and regional retailers as Wegmans along with upscale restaurants. Upon completion, the village center will include 430,000 square feet of retail space, 137,000 square feet of office space and 25,000 square feet of restaurant space. The project’s residential components, which will be developed by Kettler, include apartments, condominiums and a 300 home active adult residential community. In addition, Kettler will oversee development of 300,000 square feet of stand-alone office space and a hotel and conference center.

“We are proud and excited to be working with Kettler on The Village of Leesburg,” said Chairman and CEO of The Staubach Company, Roger Staubach. “With the retail expertise of Staubach Retail, the development prowess of Cypress Equities and the residential experience of Kettler, we expect this to be one of the finest mixed-use projects on the East Coast.”

”Chris Maguire, President of Cypress Equities and Staubach Retail was equally enthusiastic in his praise for the project and its new joint venture partner. “Kettler’s extensive experience in the Washington DC area and history of smart urban residential design will work extremely well for the Town of Leesburg and the entire development.”
Founded in 1758, the Town of Leesburg, Virginia today boasts nearly 30,000 residents.

The village orientation of this mixed-use development, incorporating office, retail, restaurants, hotel and conference center, multifamily housing and an active adult residential community will bring a new focus to the community as well as highlighting its historic heritage.

“This joint venture is the right move for both Kettler and Cypress Equities,” said Robert C. Kettler, founder and chairman of Kettler. “We are looking forward to working side by side with Cypress. Their experience of bringing urban design to the suburbs is greatly appealing to our development philosophy.”

Plans for the development include construction of Crosstrail Boulevard and Russell Branch Parkway, two new roads called for in the Leesburg Town Plan, as well as a new interchange scheduled to start construction in late 2006. The start of site work and vertical construction for the Village of Leesburg is projected for Spring 2007.

Cypress Equities
15601 Dallas Parkway, Suite 400
Addison, Texas 75001
Jeff Coker
Director of Development
972-361-5056 D.L.
972-361-5928 Fax
jeff.coker@staubach.com

About Cypress Equities
Formed in 1995, Cypress Equities is the acquisition and development affiliate of The Staubach Group. Cypress Equities focuses on projects ranging in scope from mid-sized (15,000 square feet or larger) to large-scale (1,000,000 square feet or larger) retail centers. With development offices in Dallas, Atlanta, New York, Phoenix and San Francisco, it is an independent company with a dedicated staff that focuses on retail, resort and hospitality development, portfolio acquisitions, build-to-suits, sale-leasebacks and other development services for retail, mixed-use and automotive properties.


About Staubach Retail
A part of The Staubach Company, Staubach Retail provides a full range of services including consulting, brokerage, development, capital solutions, and full real estate outsourcing to both owners and users of retail real estate. In addition, Staubach Retail has specialty focus in the areas of automotive, service and convenience, restaurant and entertainment, anchor and junior anchor, food and drug, and fashion and lifestyle retailers. With the largest staff of retail real estate professionals in the country, Staubach Retail combines national coverage with local expertise to give clients a competitive edge in the retail arena.


About The Staubach Company
The Staubach Company (www.staubach.com) is a market leading global real estate advisory firm that delivers cost-effective solutions for the users of office, industrial and retail space. It has extensive experience in strategic consulting, site selection, acquisition, disposition, construction consulting / project management, real estate administration, portfolio management, facility management, business and economic incentives and financing and capital solutions. 1,400 people in more than 60 offices throughout North America represent Staubach’s 2,850 clients. Staubach completed 6,750 transactions totaling $26 billion and 835 million square feet during the fiscal year ending June 2006. Worldwide, the DTZ Staubach Tie Leung partnership has 11,800 professionals delivering services and solutions to multinational clients.


About Kettler
Based in Northern Virginia, Kettler (formerly KSI Services, Inc.) is a leading developer of award-winning, mixed-use residential and commercial properties across the Washington Metropolitan area. In 2006, Kettler was named one of the area’s largest private companies by the Washington Business Journal and is one of the nation’s top 20 multifamily developers. Kettler has developed more than five million square feet of commercial space and more than 50,000 homes. Current projects include urban and transit-oriented developments, multifamily housing, commercial and mixed-use developments and resort communities. Robert C. Kettler, a third-generation builder and developer, founded Kettler in 1977

This release was published on openPR.