Texas Border Business
By Roberto González / Texas Border Business
MISSION, Texas — Mission Economic Development Corporation CEO Teclo Garcia said the experience behind The Shops at 495 is an important part of what makes the planned retail development significant for the city, pointing to Merit Commercial Real Estate’s track record in South Texas and its relationships with national retailers.
Garcia said the approximately $27 million development, planned for more than 20 acres at Griffin Parkway, also known as FM 495, and Conway Avenue, represents a major private investment in central Mission. The project is expected to include approximately 100,000 square feet of retail space, create hundreds of jobs, and generate an estimated $44 million in annual economic impact.
According to information provided by Garcia and Mission EDC, Merit Commercial Real Estate has become an increasingly significant player in South Texas commercial real estate.
Headquartered in San Antonio, Merit operates across retail, office, and industrial real estate, combining brokerage with investment and development capabilities. According to its website, the company reports more than $1.2 billion in total transaction value, $400 million in assets under management, 1.2 million square feet under management, and 2 million square feet in development.
Retail development has become a particularly visible part of Merit’s Rio Grande Valley presence. Its strategy includes site selection, leasing, development, and construction capabilities, allowing the company to work with national tenants beyond traditional brokerage services.
Merit’s experience attracting national retailers could also play an important role at The Shops at 495. The company has worked with major retailers, including Walmart, and maintains relationships with national retail brands.
For Garcia and Mission EDC, however, The Shops at 495 matters for its potential impact on Mission.
The development would bring national retailers into the heart of the city while generating construction investment, employment, sales activity, and opportunities for restaurants and other businesses on surrounding pad sites.
Commercial marketing describes The Shops at 495 at the northwest corner of FM 495 and Conway as a neighborhood retail center, with additional space being marketed for future delivery.
Garcia said the project’s scale makes it more than another collection of storefronts. It represents a substantial private investment and an opportunity to establish a new commercial anchor at one of Mission’s key intersections while helping capture more local consumer spending.
The biggest announcement is still to come.
With construction expected to begin this fall, Mission officials and Merit Commercial Real Estate plan to reveal the national retailers committed to The Shops at 495 during the groundbreaking ceremony. “Store announcements will be made at the groundbreaking ceremony this fall. Several tenants have already opened at the site, including Starbucks, Fork to Fit, and Wing Daddy’s, with more to come,” Garcia said.
With $27 million in planned investment, approximately 100,000 square feet of retail space, more than 20 acres of development, hundreds of projected jobs and an estimated $44 million in annual economic impact, The Shops at 495 is positioned to become one of Mission’s most significant new commercial developments in years.
