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Jonesboro Economy Keeps Distance From Pandemic Woes
August 26, 2020 by Haag Brown in News Articles

Arkansas Business Article written by Todd Traub :: Wednesday, Aug. 26, 2020

It’s a sight that has become almost as common as masks.

Drive through a given residential neighborhood in a given city these days and one can see, interspersed from curb to curb, the evidence of home improvements underway. Old drywall, broken lamps, worn out chairs, porcelain fixtures that have seen better days and more sit waiting for trash pickup.

Apparently, people are spending so much time at home during the coronavirus pandemic that they’ve decided to spend their money there.

On a larger scale, that’s what appears to be happening in the Jonesboro area. After a few months of dormancy, the local economy is getting up to speed as business owners and developers use unexpected savings, federal stimulus money and assistance programs to build, enhance and improve.

“Things are going way better than any of our employers expected,” said Josh Brown, principal in brokerage and development, at real estate firm Haag Brown Commercial.

Brown noted business traffic, construction and development that would add up to a good year in normal times and, taken together, seem to defy economic downturns elsewhere. Not to mention Jonesboro also had to dig out from significant damage caused by an April tornado.

From furniture stores to boat and camper dealerships to restaurants, Brown said, clients are “telling us they are having the most profitable months they have had ever.”

Mark Young, president and CEO of the Jonesboro Regional Chamber of Commerce, said a diverse economy that includes education, health care, agriculture, manufacturing, retail and service has helped the area adapt economically.

Some companies are tailoring their businesses to people’s needs, developing new products for which the pandemic has created a demand, and others are simply continuing to do business while rolling with social distancing requirements and other COVID-related limitations.

“I have to say that I am so pleased, as I look around and a lot of our businesses have really adjusted to the needs of the community and to the needs of their clients,” Young said. “They’ve changed their business models. Some of them have changed products that they sell and make.”

NicePak, maker of sanitary wipes, has actually added jobs, Young said. The Jonesboro branch of consumer goods maker Unilever began making hand sanitizer and local restaurants and retailers are embracing the concept of personal shoppers, among other adaptations.

Young said sales tax revenue from January to June was $20.8 million, up from $20.1 million for the same period last year.

“It’s modest. We’ll take it. Because as you know after the first quarter things got kind of interesting,” Young said.

Brown noted three major areas of development in Jonesboro that he said account for around 75% of the city’s activity.

The $8 million Ritter Communications data center is a major part of the activity in the Hill Park area that includes a new Armor Bank and various medical groups’ construction projects. Haag Brown recently closed on approximately 7 acres in the Hilltop/north Jonesboro area that will represent a multi-million dollar land development featuring a Tommy’s Express Carwash and more medical construction adjoining NEA Baptist Memorial.

The intersection of Caraway and Highland, site of the old Indian Mall, is humming with the kind of activity that for a decade had been shifting to Red Wolf Boulevard and is now trending back. Brown said there is heavy interest in the Sears building, one of the most notable retail structures in the city.

“Probably our biggest retail news in a few years will come with that building,” he said.

Business may have come to a standstill in the early months of the pandemic, Brown said, but an economy that had been thriving for 10 years gave companies a cushion, and federal help in the form of PPP loans and other stimulus money has given people confidence in spending.

“At some point, at least the people I interact with, they stopped believing the world was ending and they started spending money,” Brown said.

Young said the residential market is keeping pace as well. Over the first six months of the year, there were 389 permits for residential work, up from 265 in 2019. The value of residential permits is $36.5 million versus $31.4 million last year; 242 new homes were sold compared to 203 in 2019; and existing home sales improved to 1,140 from 1,059.

Young noted unemployment in the area was at 8% compared to 3% pre-pandemic. And it remains to be seen, when fall enrollment figures are available, how much the start of classes at Arkansas State University will impact the economy, especially if much of the learning is done remotely.

But the numbers so far look better than they were expected to several months ago, Young said.

“You look at the statistics and, again, we always want to do better and we always want to do more,” he said. “But all things considered, I have to say that we have fared relatively well. We still have areas we want to see growth in and are looking forward to but we are cautiously optimistic.”

Haag Brown

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Rogers, AR :: 3 Major Construction Announcements 🚧 -- 1 LEASE OPPORTUNITY Available in the Middle of it All ‼️

The area surrounding the 300,000+ SF Pleasant Crossing Commons Shopping Center and Wal-Mart Super Center off I-49 in Rogers, AR is experiencing MASSIVE growth. 💥 

1️⃣ Carmax Super Center has broken ground and begun dirt work for their new 42,000+ square foot used car superstore which will sit on 17 AC along South Dixieland Road. (Article :: https://tinyurl.com/yckv9ttb )
2️⃣ Mathis Brothers is set to begin construction soon on their new $50 Million furniture hub near the Carmax Super Center on South Dixieland Road. (Article :: https://tinyurl.com/mryj55df )
3️⃣ Last week, Costco announced plans to build their first location in Northwest Arkansas (and only second location in the state) at the corner of Pleasant Grove Road and Concord Street. (Article :: https://tinyurl.com/43zaswn2 )

HB is excited to have 1️⃣ brand new, Class A medical/retail space available in the middle of all these projects. 😱 Part of the JP&O Prosthetic & Orthotic Laboratory anchored development, 📍at the corner of South Pleasant Crossing Road and South Dixieland Road, this 4,000+SF free-standing building is located conveniently between I-49 and the densest area of residential in Rogers, offering quick, convenient access to both.

Details :: 
☑️ 4,023 SF Available in Mixed-Use Development just off of 49
☑️ Directly adjacent to $70,000,000 in new development along Dixieland Rd. & 49
☑️ Priced competitively at $24 PSF NNN with TI Available
☑️ Located near the 300,000 SF Pleasant Crossing Commons Shopping Center 
☑️ Exposure to 96,000 Cars Per Day
☑️ Anchored by Leading Medical Specialist, JP&O Prosthetic & Orthotic Laboratory

For More Info, Contact :
Corey Fuhrman or Joshua Brown
Haag Brown Commercial
870.336.8000
#cre #listing #forlease
!! OPENING ANNOUNCEMENT !! It’s Monday morning !! OPENING ANNOUNCEMENT !!

It’s Monday morning and if you're like us, you are already trying to decide what to eat for lunch! 🤔 Well you are in luck because South Jonesboro’s new DAIRY QUEEN will officially be OPEN for business at 10 AM TODAY 🍔 in their new location in front of Bill’s Cost Plus on South Stadium Boulevard! 

Congratulations to the local Dairy Queen Franchisees who have been long-time clients and have invested a significant amount of time and money in our community 🙏 with multiple projects across the city. 

To celebrate their opening, our local operators will be donating all of the Blizzard sales made on Monday and Tuesday to the Arkansas Children’s Hospital, 🏥 our state’s local Children’s Miracle Network Hospital.

So if you are craving one of DQ’s famous tasty treats, GIVE IN and go get your favorite Blizzard ASAP at their new location at 4229 Stadium Boulevard! It’s for a great cause and you’ll be so glad you did! 😋
#nowopen #business #cre
Professional Office Space :: LEASED ✅ HB is thr Professional Office Space :: LEASED ✅

HB is thrilled to announce that the former Elite Eye Care location along Windover has been Leased to a "new-to-Arkansas” vision 👓 care provider! 

The 2,700 square foot end-cap will soon be the home of Eye Specialty Group, Memphis’ leading multi-specialty vision partner who has been providing state-of-the-art medical and surgical eye care to Mid-Southerners for over 5️⃣0️⃣ years. 

HB’s Executive Broker Zac Qualls represented BOTH the Landlord, a long-time HB client and local business owner, AND the Tenant in securing the multi-year lease.

“High-quality, existing medical space in our market does not come available often and when it does, it normally does not stay vacant for long — add on top of that a central location within the Windover business park and this space was leased within weeks of becoming available! It was a pleasure getting to work with both the Landlord, a long-time HB portfolio client, as well as the Eye Specialty Group, on this deal. The space was a perfect fit and I’m excited for them to bring their services to Jonesboro." - Zac Qualls, Haag Brown Executive Broker

🌟We are always excited to play a part in bringing new businesses to Jonesboro. To find out more about Eye Specialty Group, visit their website at 
https://www.eyespecialtygroup.com
‼️ Rare and brand new office / medical space a ‼️ Rare and brand new office / medical space available at one of the most convenient and visible locations in Jonesboro ‼️

The Southwest Drive Business Center’s prominent position 📍 along Main Street/Southwest Drive is shown in this awesome video. It is visible from CVS, Starbucks, the DMV, and the intersection of SW Drive and Highland. 

As you can see, this recently upgraded Jonesboro staple is surrounded by new development in all directions including the expansion of Jonesboro High School’s campus. AND this prominent 2,000-square-foot end-cap retail/office/medical space is FOR LEASE at the middle of it all. 🥳

New and nice lease space along this heavily populated corridor does not become available often, so don’t miss this 💎 rare opportunity. 

Details :: 

- 2,000 SF End-Cap Space
- Rare Opportunity to be on Southwest Drive
- Significant Renovations to Building & Landscape
- Includes Space on Professional Monument Signage
- Completely Refinished Parking Lot
- Exposure to More Than 42,000 CPD
- Surrounded by a Surge of New Development Projects 

For More Info, Contact :
Zac Qualls
Haag Brown Commercial
870.336.8000
For Sale or Lease : High-Profile Car Dealer Proper For Sale or Lease : High-Profile Car Dealer Property 🚙

Looking for an opportunity to position your business at the epicenter of all significant trade and retail in the Jonesboro, AR trade area❓Then this 2️⃣ AC site along Highland Drive between the city's 2 largest signalized intersections is for you!

Not only is this property nestled in a corridor where opportunities have been non-existent the past several years, but it is also an extremely dynamic piece of real estate with a laundry list of potential uses including a 10,500 SF strip center, auto dealership, high-profile office, or medical clinic. 

Details ::
✅ A+ Facility in A+ Location
🚙 Formerly Occupied by Bayird Pre-Owned Super Store
🚦 Between 2 Major Signalized Intersections that Have Combined Exposure to Over 100,000 Cars Per Day
🛍 Within 5 Mi Radius of the City’s Top 4 Largest National Retailers
🔁 Access to Multiple Signals
‼️Rare Opportunity in Tight Retail Market

For More Info, Contact : 📲
Nathan Eller
Haag Brown Commercial
870.336.8000
Happy Mother's Day! ✨🌷 To all the Mothers & Happy Mother's Day! ✨🌷

To all the Mothers & Mother figures, may all the 🤍 you gave to us come back to you a hundredfold on this special day!

"Her children rise up and call her blessed; her husband also, and he praises her: 'Many women have done excellently, but you surpass them all.’"
- Proverbs 31:28-29
HB Construction Update :: ⚠️Construction is RO HB Construction Update :: ⚠️Construction is ROLLING on the brand new, multi-tenant strip center located between Fat City and Firehouse Subs in the Wolf Creek Development at Hilltop. 

With the addition of a dramatic, multi-level roofline, this 10,000+ square foot commercial building, which faces the highly traveled East Johnson (Highway 49 N) corridor, is really starting to take shape. And with a new lease signed for this development, there is only a small amount of space left available for lease, so act
fast! 🏃
 
✨ We look forward to making an announcement about another new tenant coming to the Hilltop area, so be sure to check back 👀 for more updates regarding this exciting project!
We are saddened that Jonesboro's beloved Sai Thai We are saddened that Jonesboro's beloved Sai Thai & Japanese Steakhouse has closed its doors. We are so thankful for the top-quality 🏆 dining experience they created for this community and we wish them all the best in their future endeavors. 

“I remember visiting with Sai, her husband and small children in downtown Jonesboro almost fifteen years ago. We wound up working with Clay Young and leasing space he owned where Uncle Tacos is now located. The restaurant they delivered was first class, gorgeous and innovative for Jonesboro. On top of that, they are simply some of the best people you could ever meet. I'll miss their food, but will always look back on the lunches there with fond memories.” - Joshua Brown, Haag Brown Commercial Principal

⬇️ Comment below with YOUR favorite Sai Thai memory and let them know how much you've enjoyed them over the years. 

NOW, we have been tasked with finding a new tenant for the restaurant's former space in the Metro Centre. Any recommendations on who would be a good fit for the space❓👀

Here are a few details about the opportunity ::
📍 Located on Red Wolf Boulevard Between Jonesboro’s Main Retail Area and Arkansas State University
🛍 2,000 SF Suite Available Adjacent to Stripes Spa & Nail Care & Jimmy John’s
🚙 Exposure to 34,000 Cars Per Day
✅ Remainder of 15,000+ SF Center is Fully Occupied
👀 Ideal for Business Needing High Visibility and Immediate Market Presence

For More Info, Contact :
Zac Qualls
Haag Brown Commercial
870.336.8000
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