Investcorp sells in southwest Florida

Retail center is freeway-close

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Investcorp Real Estate Group recently sold Cypress Point Shopping Center, a 166,933-square-foot retail property in Clearwater, Fla., for an undisclosed amount. Ramco-Gershenson Properties Trust purchased the property, which was 97 percent occupied at the time of sale and includes anchor tenants Burlington Coat Factory and Fresh Markets. It is located along U.S. Highway 19 North, the primary north-south commercial roadway in Pinellas County. New York-based Investcorp acquired Cypress Point in November 2004, according to a press statement....