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Highland Square Shopping Center 2010-2016 S Caraway Rd

247,870 SF 100% Leased Retail Building Jonesboro, AR 72401 £20,935,264 (£84/SF)

Investment Highlights

  • Long Standing Staple at the Signalized Intersection of Highland Drive and Caraway Road.
  • Situated on More Than 21 AC - Room For Expansion.
  • Exposure to 44,000 CPD.
  • Includes 190,000+ SF Retail Center and (4) Restaurant Out Parcels.

Executive Summary

Haag Brown Commercial has an extremely rare opportunity to bring the Highland Square shopping center to the market for the first time since the building was constructed. This development is strategically placed in between the market's dominant Walmart Super Center and The Mall at Turtle Creek, the only enclosed shopping center within a 75 mile radius. It is also in close proximity to Kroger Marketplace, Sam’s Club, Hobby Lobby, Burlington Coat Factory and Lowes and sits less than 3/4 of a mile from Interstate 555. Within the last 2 years, the space has been completed renovated and Haag Brown Commercial has added (4) brand new tenants: Ross, Tuesday Morning, Bargain Hunt and Play It Again Sports.

Property Facts

Sale Type
Investment
Property Type
Retail
Building Size
247,870 SF
Building Class
B
Year Built
1980
Price
£20,935,264
Price Per SF
£84
Percent Leased
100%
Tenancy
Multiple
Number of Floors
1
Building FAR
0.27
Land Acres
21.00 AC
Zoning
Commercial
Parking
1,100 Spaces (4.44 Spaces per 1,000 SF Leased)
Frontage
1,375 ft on S Caraway Rd

Amenities

  • Pylon Sign

About 2010-2016 S Caraway Rd , Jonesboro, AR 72401

This development has been a staple at the signalized intersection of Highland Drive and Caraway Road, the city's primary center of trade, for decades. The property is highly recognized by the 550,000 consumers that frequent Jonesboro. The 21+ acre property includes a 192,537 square foot shopping center, which is home to multiple retailers such as Cato Fashions, Barton's Home Improvement, Sally's Beauty Supply, Cato Fashions, and Trees and Trends. Kmart was the center's original anchor, occupying the 82,000+ square foot northern end-cap. The property also features (4) restaurant out-pads occupied by Taco Bell, KFC, Golden Corral, and a popular soon-to-be-announced fast food restaurant. This development continues to benefit from its unparalleled location. It has adapted with the growth of the surrounding area by steadily adding value. The large tract itself only enhances that value, giving plenty of room for parking, future expansion or additional retail development. All these factors ensure this will be a profitable investment for years to come. Located along Interstate 555, Jonesboro is the retail epicenter of Northeast Arkansas. Despite negative trends of other marketplaces nationwide, Jonesboro is one of only 26 cities in the 363 metropolitan statistical areas in the U.S. that has not only recovered jobs lost from the economy' s recent downfall but has added to them! Jonesboro continues to be the primary bastion of growth and investment. Serving a trade area of over 500,000 people in almost twenty-four counties in Arkansas, Missouri and Tennessee, Jonesboro has steadily grown over 40% in size since 1990 and is estimated to maintain that same or greater level of growth over the next 20 years. With a 363,689 primary trade area population, Jonesboro clearly serves more than its 68,000 residents.

MAJOR TENANTS

  • Tenant
  • Industry
  • SF OCCUPIED
  • RENT/SF
  • Lease Type
  • Lease End
  • Retailer
  • 27,490 SF
  • -
  • Triple Net
  • -

Bargain Hunt is an extreme value retail chain where customers buy quality name-brand merchandise below normal retail prices. They specialize in buying excess products from the nation’s largest retailers and manufacturers to provide their customers with a constantly changing assortment of goods at deep discounts. Expect to find amazing savings on clothing, home goods and domestics, baby, toys, electronics, sporting goods, indoor and outdoor furniture and seasonal items.

  • Barton’s Home Improvement
  • Retailer
  • 40,500 SF
  • -
  • -
  • -
  • Retailer
  • 6,400 SF
  • -
  • -
  • -

A family-owned business from the beginning, Cato brings high-quality fashion and accessories, at affordable prices – all the time. With more than 900 stores in 30 states, they stay true to their small-town America customer by offering on-trend styles, embracing all shapes and sizes and giving the customer the quality and attention they deserve.

  • Retailer
  • 4,000 SF
  • -
  • -
  • -

In 1985, Cicis opened its doors for the very first time in Plano, Texas. For decades, Cicis has been committed to creating fun, family-friendly restaurants where guests can spend quality time together and enjoy all their favorites for one low price. Consistently adapting to meet the changing needs of its guests in recent years, Cicis put a stronger focus on its off-premise options with the launch of online ordering, and new menu items. Now, fans can easily order their favorites for pick-up or delivery at Cicis locations across the country.

  • Retailer
  • 4,100 SF
  • -
  • -
  • -

KFC, a subsidiary of Yum! Brands, Inc. (NYSE: YUM.), is a global chicken restaurant brand with a rich, decades-long history of success and innovation. It all started with one cook, Colonel Harland Sanders, who created a finger lickin’ good recipe decades years ago, a list of secret herbs and spices scratched out on the back of the door to his kitchen. Today they still follow his formula for success, with real cooks breading and freshly preparing our delicious chicken by hand in tens of thousands of restaurants around the world.

  • Play It Again Sports
  • Retailer
  • 15,600 SF
  • -
  • -
  • -
  • Retailer
  • 22,000 SF
  • -
  • -
  • -

Since 1982, Ross' focus has been on bringing their customers a constant stream of high-quality department and specialty store brands at extraordinary savings (aka bargains) while providing an easy, fun and organized shopping experience. So what’s Ross' secret? Ross is big—as the nation’s largest off-price retail chain, Ross has a great deal of purchasing power. Ross is savvy—their buyers search the globe for the best brands and latest styles. Ross works directly with manufacturers to negotiate the best deals! Ross believes in “no frills”—no window displays, mannequins, fancy fixtures or decorations in their stores so they can pass more savings on to their customers. Ross loves new buys—they keep it simple so they can get the great buys into their stores quickly, which means almost every day!

  • Retailer
  • 35,000 SF
  • -
  • -
  • -

Trees n Trends - Home, Fashion & MORE! specializes in unique home decor and accessories, indoor furniture, outdoor furniture and accessories, floral designs, artificial trees and plants, seasonal and holiday decor, women's fashion, unique gifts and more. Since 1992, Trees n Trends - Home, Fashion & MORE! has been proudly serving customers with quality home decor products and friendly services. They currently operate multiple retail store locations throughout six states in the southeast, as well as their online store. Their base of operations and flagship store is in Paducah, KY. Each store is about 30,000 square feet with the front third dedicated to one of its core categories, depending on the season.

  • Tuesday Morning
  • Retailer
  • 17,730 SF
  • -
  • -
  • -
Tenant Industry SF OCCUPIED RENT/SF Lease Type Lease End
Retailer 27,490 SF - Triple Net -
Barton’s Home Improvement Retailer 40,500 SF - - -
Retailer 6,400 SF - - -
Retailer 4,000 SF - - -
Retailer 4,100 SF - - -
Play It Again Sports Retailer 15,600 SF - - -
Retailer 22,000 SF - - -
Retailer 35,000 SF - - -
Tuesday Morning Retailer 17,730 SF - - -

Nearby Major Retailers

Bank of America
Regions Bank
Western Sizzlin
Golden Corral
Texas Roadhouse
Simmons Bank
Kroger
Chili's
Huddle House
Olive Garden

PROPERTY TAXES

PROPERTY TAXES

Parcel Numbers
Multiple
  • 01-144282-00700
  • 01-144282-01200
  • 01-144282-00900
  • 01-144282-00100
  • 01-144282-00800
Land Assessment
£711,108
Improvements Assessment
£1,536,196
Total Assessment
£2,247,303
  • Listing ID: 27538001

  • Date on Market: 20/03/2020

  • Last Updated:

  • Address: 2010-2016 S Caraway Rd, Jonesboro, AR 72401

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