Financing Launches Construction on Grocery Anchored Retail

A loan totaling $36.8 million was obtained, allowing the start of construction of the retail component of Jones Crossing, a 72-acre, mixed-use project situated near Texas A&M University in College Station, TX. Southside Bank is financing the construction.

Developer Stratus Properties Inc. is building a 106,000-square-foot H-E-B grocery store, as well as five mixed-use retail buildings totaling 47,250 square feet and six pad sites for sublease. Stratus is also developing the road, utility and storm water infrastructure for the entire development at 1800 Wellborn Rd.

The H-E-B grocery store is expected to open in mid-2018. Meanwhile, two additional phases are planned for the development. Phase 2 will focus on a 40,000-square-foot secondary anchor building, and three build-to-suit pad sites for sublease. Phase 3 will include 600 student-focused rental units and a hotel.

For comments, questions or concerns, please contact Amy Sorter