REO: Large Scale Value-Add Retail Opportunity

Investment Highlights

• GENERATIONAL DEVELOPMENT OPPORTUNITY - Totaling 38.89 acres, the offering is broken down by 30.92 acres of developable land and three income producing outparcels, The Development at Turtle Creek offers a tremendous opportunity to acquire and develop the most desirable parcel in Jonesboro, Arkansas.
• INCOME PRODUCING OUTPARCELS - In addition to future development, the offering consists of three outparcels presently leased to Chick Fil A, Chili's and Chuck E Cheese, providing future ownership the ability to collect income while in development or implement a programmatic outparcel disposition strategy to reduce the basis on the asset.
• ROBUST ECONOMIC GROWTH - Since 2022, there has been significant growth and investment in the distribution/manufacturing sectors. Companies including Hytrol, Nestle, Fedex, and Colson have contributed to over 700,000 SF of new development. 
• WELL POSITIONED ASSET - Situated at the intersection of Rt 18 (20,000 VPD) and Rt 49 (31,000 VPD) and just minutes from I-555, the main interstate throughout Craighead County
• STRONG LOCAL DEMOGRAPHICS - Th asset features five-mile population counts of approximately 68,115 people with an average household income of $61,456.
• OFFERED FREE-AND-CLEAR OF EXISTING DEBT - Property is being offered for sale via auction, unencumbered by existing debt

Executive Summary

Atlantic Capital Partners, has been exclusively engaged to market for sale the Development at Turtle Creek, a large scale development site with three income producing outparcels, located in Jonesboro, Arkansas. The Development at Turtle Creek is strategically positioned at the main intersection of the Jonesboro submarket, Rt 18 (20,000 VPD) and Rt 49 (31,000 VPD), minutes from I-555, the major interstate servicing Craighead County.

The offering totals 38.89 acres, made up of 30.92 acres of developable land and three, income producing outparcels, presently leased to Chick Fil A, Chili’s and Chuck E Cheese. The site, zoned C-3 (General Commercial District) allows for retail, medical and hospitality uses by-right. Ownership has received approvals from the REA parties (JC Penney, Dillard’s and Target) for development up to 96,549 sf of retail by-right and the site can be developed in larger scale through further approvals. Chick Fil A (2026 LXD), Chili’s (2026 LXD), and Chuck E Cheese (2028 LXD) have each occupied their respective outparcel for 20 years and each are separately parceled. This asset provides future ownership with a substantial development opportunity while collecting income from the three outparcels. 

Jonesboro, Arkansas, stands as a dynamic economic hub in Northeast Arkansas, characterized by a diverse and resilient economy. The city has garnered national recognition, ranking 14th among all U.S. metropolitan areas and 4th among small metros for economic growth, according to Area Development magazine. This acclaim is attributed to Jonesboro's robust performance in key sectors such as manufacturing, healthcare, education, and logistics, all supported by a skilled workforce and strategic infrastructure. Since 2022, the Jonesboro market has benefited from significant investment from numerous manufacturing companies as well as continued expansion from NEA Baptist Memorial Hospital, since the opening of their $400M hospital / medical campus in 2014.

The asset is being offered via auction without a formal asking pricing, free-and-clear of existing debt.