The intersection of Red Wolf Boulevard and Fairview Drive will soon be a lot busier.
Haag Brown Commercial announced on Friday that On The Border Mexican Grill & Cantina will join the Red Wolf Boulevard Corner Development, across from Panera Bread.
Josh Brown, Haag Brown Commercial co-owner and principal, said that in the last three years the firm has completed eight projects on this one block of Red Wolf Boulevard.
“This was by far the most challenging. If this opportunity had not been in our hometown, we would not have pursued it,” he said. “Assembling and acquiring 10 different properties meant working with 10 different property owners and required more time and effort than any retail project of this size that we have ever been a part of.”
Haag Brown Development worked with Devin Keil of On The Border’s real estate department and Kyle Anz of HGA Holdings, LLC in the sale of the 1.14-acre tract which has exposure to more than 35,000 vehicles per day.
Greg Haag, Haag Brown Commercial co-owner and principal, noted that the economic impact the transaction will have on the city is exciting.
“We are replacing 10 rent houses with four businesses that will employ over 100 employees and generate several million dollars in annual sales tax revenue, which equals a boost in income for Jonesboro,” he said. Brown agreed that economic impact of adding the national Tex-Mex chain is substantial.
“Full-service restaurants have a ton of employees, but we’re also talking about a big, local construction project,” he said. “We’ve added 2,000 restaurant seats in the last 36 months to our market, but this is Jonesboro’s first sit-down, national brand Mexican restaurant.” Brown said closing on On The Border has been a sprint to the finish line, and the restaurant is hoping to open by fall.
“They are going to go to work around the clock – basically in a race with us on our center next door – to finish, and they’re going to bust it hard to make it happen,” he said. “Jonesboro is getting the first of this prototype for On The Border. It’s edgy, contemporary, and it’s really cool.”
On The Border Mexican Grill & Cantina, known for its hand-pressed tortillas, large chips and fresh guacamole, was founded by three friends in Dallas in 1982. Since that time, the Tex-Mex style restaurant has grown to 170 locations in seven countries – including four additional locations in Arkansas.
Haag Brown Commercial also announced on Friday that Brookland is getting a Sonic Drive-In. Davis, Hull & Rowden LLC purchased 2.39 acres at the signalized intersection of School Street and U.S. 49 N. in Brookland for the Sonic location. Haag Brown Commercial represented the seller, Maple Leaf Properties LLC and worked closely with the buyer.
“As soon as we went under contract, they pushed as hard as possible until we got to the finish line, which is rare when working with national retailers,” Brown said. “Also, at closing, instead of talking about the business, we were trying to work out details for a crappie fishing trip.”
Brown said the corner is the only signalized intersection in a hot retail area in Brookland, making it a great spot for a fast food chain. “We feel like that makes it the single best piece of commercial real estate in Brookland,” he said. “With the controlled access, proximity to the school and exposure to 20,000 commuters per day, it is also a solid fast food location.”
Haag said the company has done more than 25 projects in the North Jonesboro area in the past four years.
“I think this reflects the major push toward Paragould that is occurring within our retail market,” he said. “This move is going to positively affect the Brookland community and stimulate considerable growth therein.”
Construction is set to begin soon, and Brown said the Brookland Sonic location will include a “huge playground.”
by Christi Crawford on May 10,2015
Link :: http://www.jonesborosun.com/archives/result.php?ID=91099&kw=Border
