AUSTIN, Texas, June 27 — Stratus Properties Inc. (NASDAQ: STRS) (“Stratus”) today announced that it has completed the previously disclosed sale of the retail component of Jones Crossing, including undeveloped commercial acreage, for $46.5 million in cash. The sale generated pre-tax net cash proceeds of approximately $21.7 million, after selling costs and payment of the project loan.
The Jones Crossing – Retail transaction is Stratus’ fourth recent sale of a stabilized retail project, following the sales of Kingwood Place, Lantana Place – Retail and West Killeen Market. The transaction represents continued progress in implementing Stratus’ plan of complete liquidation and dissolution (“Plan of Liquidation”), which Stratus’ stockholders approved at Stratus’ 2026 annual meeting on June 1, 2026 and which was previously approved by Stratus’ Board of Directors (“Board”). The Plan of Liquidation provides that Stratus will be dissolved and will conduct an orderly sale of all or substantially all of its assets and distribute the net proceeds to Stratus’ stockholders, subject to payment of or reasonable provision for Stratus’ liabilities and obligations.
William H. Armstrong III, Chairman of the Board and Chief Executive Officer of Stratus, said, “The completion of the Jones Crossing – Retail sale marks an important step in our execution of the Plan of Liquidation approved by our stockholders earlier this month. This transaction reflects our continued focus on monetizing assets in an orderly and disciplined manner to maximize value for our stockholders.”
Jones Crossing – Retail was part of Jones Crossing, Stratus’ H-E-B, L.P. (“H-E-B”) grocery-anchored, mixed-use development located in College Station, Texas, the location of Texas A&M University. The retail component of Jones Crossing includes 154,092 square feet of retail space, including an H-E-B grocery store, two retail pad sites subject to ground leases to tenants, and approximately 22 undeveloped commercial acres with estimated future development potential of up to approximately 104,750 square feet of commercial space and up to seven retail pad sites available for lease. Following the sale, Stratus retains the 21-acre multi-family component of Jones Crossing, including the ground lease underlying the multi-family property.