Haag Brown Commercial Real Estate & Development in Jonesboro paid $200,000 for nearly 2 acres of land just behind a property it purchased earlier this year in Fayetteville.

Haag Brown bought the property from CVS Pharmacy of Woonsocket, Rhode Island. The lot is directly behind the CVS Pharmacy on North College Avenue, just north of the intersection of College and East Township Street. In late March, Haag Brown paid $655,000 for the Suds Car Wash at 2408 N. College, which is next door to the CVS.

Haag Brown plans to replace the car was with a multiuse retail building anchored by, in all likelihood, Starbucks and one other tenant. When the company bought the car wash, CVS contacted Joshua Brown, co-founder of Haag Brown, about the 2 acres, which are located directly behind the CVS and car wash.

CVS paid $2.6 million to JMU Inc. of Fayetteville for the property in 2014. Brown told Arkansas Business earlier this year, when the company was working on the deal, that the second property was attractive as an office development to tie in with the retail development at the car was property.

Arkansas Business Article, September 26, 2016