East Texas Business

By GREG JUNEK
Business Editor

A tract of cleared land on the northeast corner of Old Jacksonville Highway and Grande Boulevard will one day contain services ranging from banking to retail to fast food.

Don Simmons, broker-developer for the land sales for Grande Commons, said he plans to develop the area from Azalea Assisted Living south to Grande, and along Grande to the Kelly Community Federal Credit Union.

"There's actually about 27 acres of area between Azalea Assisted Living and the Grande intersection," Simmons said. "That does not include what we have sold."

Simmons said he sold 2.4 acres Tyler Bank & Trust, 1.25 acres to Citizens National Bank and 1.2 acres to Shelton Development.

He said he wanted to develop in an area that is sure to grow.

"It's just an emerging growth area of Tyler with the development to the south of the intersection and to the north of the intersection, and the realization that Grande is going to be a significant east-west artery from Highway 110 to Highway 155 upon completion of the road on the east side," Simmons said.

Will Shelton of Shelton Development said his firm is planning a small retail project of approximately 12,000 square feet. He declined to say how large an investment it will represent.

"I hope to start breaking ground in September, and I hope to be completed in six to seven months," Shelton said.

As soon as the plans are completed, he expects to sign at least two leases, if not three. Shelton said he is looking for established retailers. The number of retailers in his center will probably number six to eight.

"I'm working with several people now, but I'm still in the process of finishing my plans, and I don't have any leases signed," Shelton said.

Simmons said Texas Bank & Trust will be the first business along Grande from the corner of Old Jacksonville Highway. The next lot will be for Henderson-based Citizens National Bank. Shelton's development will be next, on the east side of a drive off of Grande.

Jerry Woolverton, Texas Bank & Trust president-Tyler, said the new branch will become the Longview-based financial institution's main Tyler branch. He said it will retain its current Tyler branch at 6537 S. Broadway Ave. as a satellite branch. TB&T also has trust operations in the Oak Plaza office complex.

Woolverton said the bank hopes to break ground soon on the two-story, 17,000-square-foot branch, with an opening within 12 months after breaking ground.

"Right now we're still saying we will open it in 2009," he said. "That's not set in stone, but that's the goal."

He did not yet have information on the amount of investment the new branch will represent, but said it will effect the hiring of five to 10 additional employees.

TB&T assets total more than $1 billion. In addition, its trust services area manages more than $1 billion in assets for its trust clients.

Last month, Citizens National Bank officials said they hoped to start construction of their new branch in Grande Commons later this year. Construction is expected to take six to nine months, with a probable opening in late summer 2009.

Brad Tidwell, the bank's president and chief executive officer, said the anticipated investment for constructing the 6,000- to 7,000-square-foot branch is unknown. It will employ about 12 people, bringing its employment in the Tyler branches to about 20.

Citizens National Bank's assets total about $800 million.

Simmons said he believes the total area will be developed in two to three years.

Other Grande Commons development includes an approximate 18,000-square-foot retail center with an outparcel in front. Simmons said he plans to develop this center. Plans show it to be located along Old Jacksonville Highway, one lot north of Texas Bank & Trust.

"We would hope to start that 18,000-square-foot planned retail probably within the next 90 days," he said. "We do have initial interest from folks (from prospective tenants) who are waiting to see the final plans, so we are still in the conceptual stage at the moment."

He also said he has a sale pending on a site for a fast-food restaurant north of the TB&T tract and south of the 18,000-square-foot retail site.

A two-story office building is also included on an overhead rendering of the development. Simmons said this project is still in the concept stage.

(Courtesy Photo)