Brixmor Property Group Acquires Retail Portion Of Jones Crossing For $46.5M From Stratus Properties

The property asset involved in this transaction is a retail portion of the Jones Crossing mixed-use development located at 11675 Wellborn Road, College Station, TX. It was sold for $46,500,000, encompassing a total area of 154,092 square feet. The sale price translates to approximately $302 per square foot. The acquisition includes two ground-leased pad sites and offers development potential for an additional 104,750 square feet of commercial space across 22 acres.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $46,500,000
• Buyer: Brian Finnegan - Brixmor Property Group
• Seller: William H. Armstrong III - Stratus Properties
• Square Footage: 154,092
• Price Per Square Foot: $302
• Address: 11675 Wellborn Road, College Station, TX

Brian Finnegan represents the buyer, Brixmor Property Group, while William H. Armstrong III represents the seller, Stratus Properties. This transaction reflects their respective roles in this significant property acquisition, as Brixmor aims to enhance its retail portfolio through this strategic investment.