Engel Realty adds Jonesboro, Arkansas property to its Multi-Family Portfolio.
Stadium Place offers residents a variety of desirable amenities. A dramatic tree-lined entrance to the property creates a sense of grandeur.
In October of 2018 Engel Realty acquired Stadium Place Apartments, a 200 unit property built in 2000 located in Jonesboro, Arkansas.
Stadium Place offers residents a variety of desirable amenities. A dramatic tree-lined entrance to the property creates a sense of grandeur. The leasing center includes: an entry porch, two offices, a serving kitchen and refreshment center, and a casual indoor seating area. The freshly-painted pool is surrounded by a generous, fenced sun deck. Grilling stations and picnic tables are spotted throughout the spacious courtyard area. Bike racks, a basketball court, and a playground offer residents outdoor entertainment choices. Building entrances are protected from the elements and carpeted indoor stairways and corridors lead visitors to 2nd and 3rd floor units.
Jonesboro is located in Craighead County and is the 5th largest city in Arkansas, with a population of over 71,000. The Jonesboro Metropolitan Statistical Area is over 125,000. From 2010 to 2015, the population of Craighead county increased by 7.9%, the 4th fastest growing county in the state. The city is centrally located with easy access to other major markets. From 2009-2016 employment growth in the Jonesboro MSA was 17.4% – an annual rate of 2.3%, more than double the statewide rate of 1.0%. Jonesboro’s economy is diversified, it is home to a major university and is buffered from economic cycles. One in four private sector employees work in health care. In addition, Jonesboro offers a desirable quality of life, with a high-quality educational system, excellent healthcare facilities, abundant retail opportunities and numerous recreational and cultural activities available.
Engel Realty is excited to continue it’s investment strategy of focusing on Secondary and Tertiary markets and the addition of Stadium Place is a welcomed addition to Engel’s multi-family portfolio.