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1901 S Caraway Road - Caraland Mall - Multiple Out-Pads @ Midtowne Marketplace, Jonesboro, AR

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1901 S Caraway Road - Caraland Mall - Multiple Out-Pads @ Midtowne Marketplace

lot 1
Jonesboro, AR 72401

Property Type:Land Parcel Size:7.77 Acres
For Sale Price:For Sale Price/Acre:For Sale Price/SF:-

Proposed Use:-

On-Site Improv:-

Sale Notes:
Haag Brown Commercial has an extremely rare opportunity to re-develop the former Indian Mall property beside Kroger Marketplace. This site has been a staple at the corner of Highland Drive and Caraway Road, the city' s primary center of trade, for decades. The property has exposure to over 44,000 cars per day and is highly recognized by the 550,000 consumers that frequent Jonesboro.

Kroger Marketplace is the anchor for this project. Their 125,000 square foot store sits on 11.78 acres at the corner of Caraway Road and Wilkins Drive. Kroger paid $6 MM for the acreage in 2013 and has been open since August of 2015.

The 16.07 acre development site includes an existing +/-80,000 square foot big box retail space, which was formerly occupied by Sears, and is surrounded by several popular restaurants and retailers including Kroger Marketplace, Pier 1, Office Max, Smoothie King, Taco Bell, KFC, and Cici' s Pizza. The location is also in close proximity to Walmart, Sam' s, Hobby Lobby, Burlington Coat Factory and Lowes. Stategically placed between our dominate Walmart and The Mall at Turtle Creek.

Over the past 5 years, Haag Brown Commercial has been intimately involved at this intersection which is scheduled for a $2 MM upgrade. The Regions bank building in the northeast corner has been completely renovated. The vacant Coca-Cola Bottling Plant at the southwest corner was converted into a retail clothing store in 2015 and then a large technology company earlier this year. Final negotiations are underway with three tenants who will completely transform the Kmart Space in the southeast corner. And now, The Indian Mall property occupying the northwest corner will be the site of Jonesboro' s biggest redevelopment since the old Fairgrounds project.

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.

Haag Brown Commercial
Joshua Brown
(870) 336-8000

Garrett Mcpherson
(870) 336-5672

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