SaleMay 28, 2026, 04:26 PM
Stratus Properties to Sell Jones Crossing Retail for $46.5M
AI Summary
Stratus Properties Inc., through its wholly-owned subsidiary College Station 1892 Properties, L.L.C., has entered into an agreement to sell the retail component of its Jones Crossing development to Brixmor Operating Partnership LP for $46.5 million in cash. The transaction is expected to yield approximately $20.0 million in pre-tax net cash proceeds for Stratus after selling costs and loan payments. The sale, which includes 154,092 square feet of retail space and 22 undeveloped commercial acres, is anticipated to close in the second or third quarter of 2026. Stratus will retain the 21-acre multi-family portion of the Jones Crossing development.
Key Highlights
- Stratus Properties' subsidiary to sell the retail component of Jones Crossing to Brixmor Operating Partnership LP.
- The purchase price for the retail component is $46.5 million in cash.
- The sale is expected to generate estimated pre-tax net cash proceeds of approximately $20.0 million.
- The retail component includes 154,092 square feet of retail space and approximately 22 undeveloped commercial acres.
- Stratus will retain the 21-acre multi-family component of Jones Crossing.
- Closing of the sale is expected in the second or third quarter of 2026.
- Purchaser deposited an initial $465,000 in earnest money, with an additional $465,000 due later.
Price Impact
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