Highland Square Shopping Center
247,870 SF | 100% Leased | Retail Building | Jonesboro, AR 72401 | $26,500,000 ($107/SF)
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $26,500,000
- Property Type
-
Retail
- Square Feet
- 247,870 SF
- Price / Square Foot
- $107
Listing Contacts
Nathan Eller
Verified Profile
- Property Info
Property Overview
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.
Property Details
- Class
- B
- Year Built
- 1980
- Stories
- 1
- Lot Size (sq. ft)
- 914,760 SF
Highlights
- Long Standing Staple at the Signalized Intersection of Highland Drive and Caraway Road.
- Exposure to 44,000 CPD.
- Situated on More Than 21 AC - Room For Expansion.
- Includes 190,000+ SF Retail Center and (4) Restaurant Out Parcels.
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