Jonesboro, AR – Contributed – Halsey Real Estate represented Young Investment Company LLC in its $5.8 million acquisition of the office building at 2400 E. Highland Drive, one of the city’s most recognizable commercial properties.

The transaction was brokered by Gary Harpole of Halsey Real Estate.

Highland Building LLC and Highland WF LLC were represented by listing agents Drew Holbert and Andrew Wiechern of Colliers Arkansas. The sale closed July 20.

Built in the mid-1990s by Wallace Fowler, the building was the market’s first ground-up, purpose-built bank headquarters and has since become a defining feature of the Jonesboro skyline, standing among the city’s tallest structures.

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Clay Young, president of Young Investment Company, is a Jonesboro-based developer and investor with a long history of investing in the community across multiple sectors and types of properties.

His work includes significant investment in Downtown Jonesboro, where he helped redevelop vacant and underused properties and recruit dining and entertainment businesses to the district.

“The building at 2400 East Highland in Jonesboro is an iconic property in the Jonesboro market,” Young said. “It stands as one of the tallest and most recognizable buildings in the entire city. The architecture and quality of construction is among the best in the region. This building has stood the test of time since its opening in the mid-90s. It is historical in the fact that it was the first ground up primary bank building built by Wallace Fowler in the market. It is a legacy property with incredible tenants, and I am excited that we were able to purchase it.”

The acquisition adds another prominent Jonesboro property to Young’s portfolio and places a building with a significant place in the city’s commercial history under the ownership of a longtime local investor.

Harpole, who represented the buyer in the deal, has a decades-long history with the building himself.

“I remember as a city councilman walking the building with Mr. Fowler when the 4th and 5th floors were still unfinished and marveling at what a beautiful property it was,” Harpole said. “Then later, Jerry Halsey and I had offices on the 4th floor. Those top-floor roof terraces have some of the best views in all of Jonesboro. I never imagined that 30 years later I would have the opportunity to sell the building. I have known Clay for over three decades, and for him to give me the opportunity to represent him in this transaction was humbling. I have always had the utmost respect for the work he has done and the investments he has made in our community.”

Jerry Halsey, President and CEO of Halsey Real Estate, said the transaction brings together a landmark property and an investor with a demonstrated commitment to Jonesboro.

“Clay has made it a point over the years to invest in Jonesboro, across different sectors and different types of properties,” Halsey said. “This is a landmark building that has been an important part of the city’s commercial landscape for nearly three decades. It’s good to know it will remain in the hands of someone who knows this community, believes in it, and has a track record of investing in its future.”

The $5.8 million transaction represents another investment in Jonesboro’s commercial real estate market and continues the local ownership of one of the city’s most prominent office properties.

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