H-E-B Shadow-Anchored retail center in Killeen secures financing

DALLAS, Jun. 10, 2025 – JLL Capital Markets announced today that it has secured financing for the acquisition of West Killeen Market, an H-E-B shadow-anchored retail center located in Killeen, Texas.

JLL represented the borrower, Brownlee Waggoner Holdings, LLC, in arranging the four-year loan through Stellar Bank.

Built in 2017, the 44,494-square-foot West Killeen Market is currently 74% occupied with plans for strategic value-add initiatives. The property is shadow-anchored by a high-performing H-E-B supermarket that ranks in the 68th percentile among all H-E-Bs statewide and is the most popular within a 15-mile radius, attracting 2.3 million annual visits from over 237,000 unique visitors.

Situated at 1103 West Stan Schlueter Loop, the property benefits from its strategic location near Fort Cavazos (formerly Fort Hood), one of the largest active-duty armored posts in the nation. The immediate area has seen substantial expansion, with the population within a one-mile radius increasing by 32% since 2010. The property is exposed to approximately 39,780 vehicles per day.

Current tenants include Cohen's Veterans Network, Jimmy's Egg, MB2 Dental, Twin Liquor, Verizon, Cricket Wireless, Great Clips, The Joint, Venetian Nails & Spa, Lone Star Dental and Papa John's.

JLL Capital Market’s Debt Advisory team representing the borrower was led by Managing Director Clint Coe, Associate Chad Lisbeth and Analyst Charlie Mossy.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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Founded by Bo Brownlee, Easley Waggoner Jr., and John Brownlee, Brownlee Waggoner Holdings, LLC is acquiring in sourcing high-quality commercial real estate investments across Texas and the Southwest that align with their long-term investment objectives. The company actively pursues diverse value-add, core-plus and core opportunities in primary and strong secondary locations that are supported by strong growth dynamics and surrounding demographics. 

Stellar Bank formed in 2023 through the merger of Allegiance Bank and CommunityBank of Texas, creating a uniquely positioned financial institution in the Texas market. Its bankers deliver responsive, relationship-based community, corporate, and institutional real estate financial services with the resources to compete with much larger institutions and the personal focus to out-service smaller ones. Stellar Bank serves as a vital partner to customers, providing financial expertise and dedicated support to help develop and execute their financial plans.