Sears Building Sold to 2 Local Jonesboro Businesses
FOR IMMEDIATE RELEASE :
Haag Brown Commercial is excited to announce that Gearhead Outfitters and Gamble Home have purchased, and will occupy, the former Sears building at the corner of Highland Drive and Caraway Road in Jonesboro, AR.
The popular, Jonesboro based businesses will be the newest addition to the Indian Mall Re-development project, joining some of the city’s top businesses including Kroger, Tommy’s Express Car Wash, and Texas Roadhouse.
“This is the most meaningful retail transaction for Jonesboro in the last decade. You have two locally cultivated Jonesboro businesses joining forces to purchase and invest in the single most important retail building in the city’s history.” Joshua Brown | Haag Brown Commercial Principal
Sears was one of the original stores in the Indian Mall when it opened in 1968 and it was the last store to close in 2017, more than 10 years after the new Mall at Turtle Creek opened. Today, it is the only portion of that nostalgic structure that remains.
Gamble Land Company, LLC and Math Investments, LLC purchased the 82,000 square foot building and the 5.8 acres of land on which it sits for $4,900,000. The team has significant re-development plans in place that will breathe new life into the historic space.
Gamble Home will occupy the eastern end-cap closest to Texas Roadhouse, while Gearhead Outfitters and La-Z-Boy Comfort Studio will occupy the middle portion of the building, leaving the 25,000+ square foot western end-cap available for sale or lease.
The updated facility will also feature a visually impressive exterior design, a covered plaza, upgraded walkways, multiple planting areas, an open greenspace and a small food truck area.
This announcement comes just two years after Haag Brown Commercial released the sale and re-development plans for the former Indian Mall at the intersection of Caraway Road and Highland Drive.
“The former Sears building in the Caraland Shopping center is truly at the crossroads of two of the most important highways in Jonesboro, Caraway and Highland. It is because of this that we hoped to find a company who shared our vision for something very unique and we were fortunate enough to find Chris Gamble who did. The citizens of Jonesboro will be proud of the project Chris is planning and we wish him the best.” Former Owner Marty Belz | Highland Street Group, LLC