Haag Brown Commercial Real Estate and Development, a Jonesboro, Arkansas-based commercial real estate brokerage, announced that it has purchased one of the biggest buildings in Jonesboro. Haag Brown Commercial Real Estate & Development of Jonesboro and Colliers International in Little Rock are part of an ownership group that purchased the property for $3.4 million from an entity owned by Jonesboro developer Bruce Burrow and his business partner, Marty Belz of Memphis, according to an Arkansas Business article. Terms of the deal were not disclosed.
"Our partnership and ongoing relationship with Colliers International in Little Rock led to our direct involvement in the purchase and re-branding of this building. We have big plans for this multi-story development and are looking forward to watching our vision become reality," said Joshua Brown of Haag Brown. We have always had a good relationship with Kevin Huchingson and Isaac Smith from Colliers. Their firm manages over 14,000,000 SF of commercial real estate. Our immediate plans are to start the largest, most efficient, and innovative commercial property management company in the Northeast Arkansas Trade area."
The building at 2400 Highland Drive, once known as MBC Plaza that now serves as the Regions Bank building, includes roughly 52,000 square-feet of office space. The five-story building will be renamed the 2400 Building, according to a news release from Haag Brown. Haag Brown will lease the property and Colliers will manage it. Current tenants include Region's Bank, the FBI, Congressman Rick Crawford and Raymond James.
For more news and information visit Blumberg Capital Partners.
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