Sears building in Jonesboro bought
by October 14, 2020 2:57 pm 1,862 views
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.
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 $4.9 million. The team has significant re-development plans in place that will breathe new life into the historic space.
The Jonesboro-based businesses will be the newest addition to the Indian Mall redevelopment 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 structure that remains.
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 an 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 redevelopment 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,” said former owner Marty Belz of the Highland Street Group, LLC.