Jonesboro, AR
E-Commerce Park
Industrial Land
Challenge
As long-time farmers reach retirement, so many of them are faced with the dilemma of what to do with the land that’s been in their family for generations. This was the case for the owners of a large piece of farmland along I-555 in Jonesboro, AR. After selling a portion to the city for a sports shooting complex, the family decided it was time to part with the entire 187 acres. They approached Haag Brown about putting it on the market. When we performed an analysis for the highest and best use of the land, it was our opinion that the highest and best use for the land was not for agriculture, but instead for industrial usage. Because of our experience in land valuation and large scale development projects, we were able to help create the most value possible for this client.
Action
With its unique location along the interstate and I-2 industrial zoning, our Industrial team knew the land was prime for technology/warehouse use and created a comprehensive marketing stragetgy in alignment with that goal. We created outstanding marketing materials highlighting the property’s easy access to I-555 and close vicinity to Jonesboro’s existing Industrial Park. We then utilized our relevant contacts to curate a list of potential buyers who were actively searching for new warehouse space that also provided land for crops and agricultural testing.
Results
Haag Brown's Industrial Division worked for over one year, gathering intel about e-commerce/logistical space and surveying local industry leaders about their real estate needs. As a result, they identified an immediate need for 1-2 million square feet of warehouse space. HB Industrial committed to providing the space that the market so desperately needed, and purchased the 187 AC of land along I-555 to establish HB E-Commerce Park, Northeast Arkansas’ first ultramodern logistics, warehousing and digital fulfillment park.