Exclusively Listed by Matthews™
2801 S Olive St | Pine Bluff, AR 71603
Anchored Investment Opportunity
Matthews™, as exclusive broker, is pleased to present the opportunity to acquire Jefferson Square, a 316,268± SF community center anchored by Ollie's, Planet Fitness, Citi Trends, Aaron's, Rainbow, Shoe Show, Family Dollar, ArchWell Health and Madrag — advantageously positioned as the retail center of gravity for Pine Bluff, AR.
Incredibly advantageous going in basis (PSF) and low, replaceable rents across the tenant roster
Providing both insulation from macroeconomic fluctuation and layered near-term and long-term upside, further highlighted by having 18 of 28 tenants currently on gross leases
Anchored by long-time national credit tenants — Ollie's Bargain Outlet, Planet Fitness, Citi Trends, Rainbow, Aaron's, Shoe Show, Archwell Health, Family Dollar, Simply 10 and Madrag
A synergistic blend of discount-oriented retailers which make Jefferson Square a one-stop shopping destination for value-minded consumers
Offering includes a separate McDonald's GL and three outparcels occupied by a Ace Cash Express building, a new Take 5 GL, and a Simmons National Bank drive-thru ATM
Providing an advantageous future “spin-off” scenario, allowing future ownership to reduce equity exposure in the Asset
Centrally positioned along S Olive St, within the heart of Pine Bluff
Just minutes south of the downtown area and just north of I-530 and Jefferson Regional Medical Center (265 Beds)
Jefferson Square boasts a long list of tenants with significant tenure at the Property
Characterized by 9 anchors with an average of over 19 successful years at the property and 12 total tenants with over 20 years of operating history at the property
Long-established retail center of gravity for the city of Pine Bluff and the surrounding region – ranked #1 of 5 within 15 mi. and #7 of 47 in Arkansas (Placer.ai Neighborhood Centers)
Further bolstered by a 70% current national/regional retail tenant roster
In addition to rare included outparcel assets, Jefferson Square provides a significant value-add component
Via the lease-up of 21,402± SF of available space, representing roughly 7% of the Total GLA – all at a low PPSF well below replacement cost
Pine Bluff is located in southeastern Arkansas along the Arkansas River, approximately 45 miles south of Little Rock. As the county seat of Jefferson County, the city serves as a regional hub for commerce, healthcare, education, and industry within the Arkansas Delta. Its strategic river access and proximity to major highways have historically supported manufacturing, agriculture, and transportation activity.
The city has long played a significant role in Arkansas's economic landscape, with deep roots in agriculture and industrial production. Today, Pine Bluff's economy is supported by major employers in manufacturing, healthcare, education, government, and gaming and entertainment. Notable institutions such as Jefferson Regional Medical Center, the University of Arkansas at Pine Bluff, Pine Bluff Arsenal, and Saracen Casino Resort contribute to steady employment and regional economic stability.
Pine Bluff offers a blend of cultural heritage, educational opportunity, and recreational amenities. The city features historic districts, museums, and access to outdoor recreation along the Arkansas River and nearby natural areas. Ongoing investment in economic development initiatives and workforce programs continues to position Pine Bluff as an important commercial and institutional center for Southeast Arkansas.
Pine Bluff Aquatic Center — $12M Development opened in 2019
Centrally positioned in the Pine Bluff market, Jefferson Square has an extensive history as the de facto discount shopping hub for the community.
The city of Pine Bluff is undergoing a major revitalization led by the recent $500M development and expansion of Saracen Casino Resort – Arkansas' first stand-alone casino and one of the state's largest entertainment venues - which is home to an 80,000 SF gaming floor, 1,500 slot machines, 30 table games, and a dedicated poker room. The resort also offers three on-site restaurants, including an award-winning steakhouse and sports bar. The recently opened 14-story hotel is home to 318 rooms and suites.
In addition to Saracen Casino Resort, Pine Bluff is driving a major downtown revival, led by Mayor Vivian Flowers. Key efforts include a massive funding boost for Downtown Development Inc., the creation of the Delta Rhythm and Bayous Cultural District, and a proposed plan for a $62M transformation of The Pines mall.
Jefferson Square serves as Pine Bluff's best-in-market asset and true retail center of gravity, bolstered by a synergistic blend of proven retailers. Centrally located with ample frontage along one of the city's busiest north-south thoroughfares, the Center provides optimal shopping convenience for the Pine Bluff community. Characterized by a complementary mix of low-cost providers, including Ollie's Bargain Outlet, Planet Fitness, Citi Trends, Aaron's, Shoe Show, Madrag, Simply 10, Family Dollar, and Rainbow, the Center is a quintessential one-stop shopping destination for value-minded consumers.
The Jefferson Square offering includes an advantageous mix of seasoned and new, long-term national outparcels, which have already been separated by ownership and include Ace Cash Express, Simmons National Bank (drive-thru ATM), a McDonald's ground lease, and a new, 10-year Take 5 ground lease. An incoming owner has valuable future spin-off optionality in reducing equity exposure in the asset.
20 Yrs of Tenure at the Property
McDonald's
31 Yrs of Tenure at the Property
Ace Cash Express
65 Yrs of Tenure at the Property
Simmons National Bank
New 10-Yr Lease
Take 5
Situated within the heart of the Pine Bluff market, fronting S Olive St, Jefferson Square is ideally positioned with convenient proximity to Downtown Pine Bluff (1.7 miles), Jefferson Regional Medical Center (1.9 miles), I-530 (2.3 miles), and Saracen Casino Resort (4.9 miles) – one of Arkansas' largest entertainment draws, with a 318-room hotel, 1,600-seat entertainment venue, and 80,000 SF casino gaming floor.
Jefferson Square is anchored by a truly synergistic mix of proven, discount-oriented retailers, including Ollie's, Citi Trends, Rainbow, Aaron's, Shoe Show, Family Dollar, Simply 10, and Madrag; making it the indisputable market destination for value-minded consumers in Pine Bluff and the surrounding region. With an average tenure at the Property exceeding 19 years, including Family Dollar and Rainbow with over 30 years of proven success at the location, the Property has a long-established identity as the center of retail within the city.
Citi Trends Placer.ai rankings
Family Dollar Placer.ai rankings
Aaron's Placer.ai rankings
Jefferson Square — Placer.ai
With the addition of national healthcare tenant, ArchWell Health, on a new, 10-yr lease in 2024; the tenant roster at Jefferson Square is comprised of a complementary mix of national credit and proven regional tenants. Additionally, the Center is marked by low, replaceable rents; providing underlying stability in uncertain market climates.
In addition to a proven retail asset with over 60 years of operating history; Jefferson Square provides the next iteration of ownership with a rare combination of ongoing upside via 21,402± SF of available space to be leased, as well as an extremely low PPSF going in number – well below the replacement cost of the asset.
Exclusively Listed By
Associate Vice President
(205) 561-8744boris.shilkrot@matthews.comLicense No. 391741 (GA)
Broker of Record
Brian Brockman
License No. 164417 (AR)
Firm No. 164416121 (AR)
