JONESBORO, Ark. — A well-known office building in downtown Jonesboro has been sold and will become a new location for the Arkansas Department of Transportation.
Commercial real estate firm Haag Brown Commercial announced the sale of the property at 600 S. Main St., a 5,266-square-foot office building located on a prominent corner in the downtown area.
According to the firm, the transaction was handled by Executive Broker Zac Qualls, who represented Wilcox & Averitt, the sellers of the property. The building was listed in March and later went under contract before closing.
The buyer was Arkansas Department of Transportation, which has multiple roadway projects underway or planned in and around Jonesboro. The building is located near several city offices and departments.
The sale also led to an additional real estate transaction. Haag Brown said the closing prompted the purchase of 1.32 acres in The Reserve at Hill Park, which is expected to become the future location for Wilcox & Averitt. The firm said the purchase will also open new lease space within the development.
The property at 600 S. Main St. sits within the downtown business district of Jonesboro and has long been considered a high-visibility location.
No financial terms of the sale were released.
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Us this a new (additional) location or are they moving their offices in Paragould?