Haag Brown Acquires Office Building in Bentonville, Arkansas
June 10, 2021: Jonesboro, AR
FOR IMMEDIATE RELEASE :
Haag Brown Commercial is excited to announce the acquisition of a high-profile property at the most notable intersection in the nation’s 5th fastest growing city - Bentonville, Arkansas.
Haag-Brown Encore Holdings, LLC, a development entity from Jonesboro, Arkansas, purchased the First Horizon Bank building at 706 S. Walton Boulevard from First Horizon Bank on June 2nd for $3MM. Zac Qualls of Haag Brown Commercial in Jonesboro, Arkansas represented the Buyer in the transaction. Alan Cole and Wade Smith with Colliers International in Rogers, Arkansas represented the Seller.
The intersection of 8th Street and Walton Boulevard is one of the most prestigious and strategic intersections in the Natural State. Surrounded by Walmart’s Home Office to the east, Walmart’s Store #100 to the north, and the area’s new 100 Acre Destination Park coming soon to the west, this 20,000 square foot office complex sits on some of the most notable real estate in the state of Arkansas.
“We are thankful for the opportunity to invest in one of the hottest markets in the country. As developers, we are drawn to retail locations and the location of this real estate is irreplaceable. We have a 20,000 square foot building on nearly 3 acres of land and two hard corners with traffic signals to access the site.” Joshua Brown | Haag Brown Development
Haag Brown will be completely redeveloping the iconic building in order to better fit the needs of First Horizon Bank, who will anchor 7,000 square feet of renovated space, and fully utilize the building’s untapped potential. The property’s remaining 13,000 square feet will be available for lease in the coming months.
“We are always looking to acquire great real estate in which we believe we can add value. This is one of those rare opportunities where you get to start a project with a high quality partner, such as First Horizon Bank. We are especially excited about this first project with them and the transformation of this iconic location!” Greg Haag | Haag Brown Development
With 4 access points at two main intersections and exposure to over 47,000 cars per day from some of the highest average income households in the state, Haag Brown does not expect this new to the market opportunity to last long.