Haag Brown Commercial is excited to announce the acquisition of a major retail center adjacent to the new Kroger Marketplace at the signalized intersection of Chenal Parkway and Kirk Road in Little Rock, Arkansas.

Haag-Brown Development, LLC, a development firm from Jonesboro, Arkansas, purchased the shopping center from Kroger Limited Partnership on January 30th for $4.4MM.  Parrish Taylor of CBRE in Memphis, Tennessee represented the Buyer in the transaction. Brian Whaley with CBRE represented the Seller.

“Parrish and Brian along with Kate Subler from Kroger’s real estate department played a vital role in getting this deal to closing.” Joshua Brown | Haag Brown Development

 

“We were in the process of completing a tax exchange and the purchase opportunity presented itself at a great time for our company. Working under such a tight time frame, we appreciate Parrish’s help in what proved to be a deal that could be written about in a future textbook on complicated transactions.” Greg Haag | Haag Brown Development

West Little Rock is booming with growth. The 63,212 square foot shopping center, formerly occupied by Kroger, sits on 5.72 acres and is now home to Marshall’s, the Fit Factory and 15,272 square feet of vacant space. 

“If you are grading real estate simply by location and new real estate activity, this shopping center would score off the charts. There is a significant amount of commercial real estate construction dollars being spent in this immediate area.” Joshua Brown | Haag Brown Development

Haag-Brown Development, LLC has an accepted agreement in place with a national retailer to occupy the vacant space. Look for a tenant announcement in the coming weeks.

“We are always looking to acquire real estate in which we can add value through filling a vacancy. We hope to take the education of this deal and apply it to acquiring more shopping centers throughout our development area.” Joshua Brown | Haag Brown Development