A once popular restaurant in Jonesboro is set to return. Haag Brown Commercial announced Thursday a new Steak ‘n Shake will open on Parker Road near the Malco Theater and Coltons Steakhouse. The area is one of the primary entertainment districts in the city that abuts I-555. Hijinx Family Entertainment Center, located in the same area, just completed a renovation. It’s near the city’s hotel row.
Financial details were not disclosed.
Steak ‘n Shake had a restaurant on South Caraway Road that closed in 2003. It was near Arkansas State University and it was a popular late-night destination.
“We have been bombarded on social media for years with requests to bring Steak ‘n Shake back to Jonesboro,” Haag Brown Principal Broker Joshua Brown said. “Selfishly, my whole family loves Steak ‘n Shake. It’s where my daughter chooses to eat for her birthday and a meal we look forward to when on vacation.”
P & H Investments, a local investment group represented by Brown, bought the property from Spencer Property Inc. Burger Joint LLC, the local owners of the new Steak ‘n Shake, have signed a long-term lease, Brown said. The 3,000-square-foot building should be completed in early 2018.
When Steak ‘n Shake shut down in 2003, it primarily served burgers and shakes, and it was more expensive than its local competitors, Brown said. It will be competitively priced when it opens next year, he said.