Two Jonesboro retailers are moving into the former Sears building as part of a mall overhaul.
Gamble Home Furnishings and Gearhead Outfitters bought and have plans to open shops in the old Indian Mall at Highland Drive and Caraway Road. Haag Brown Commercial is the property agent and developer.
"This is the most meaningful retail transaction for Jonesboro in the last decade," real estate broker Joshua Brown said in a news release. The retailers join a mix of nearby businesses, including Tommy's Express Car Wash, Texas Roadhouse and anchor store Kroger.
Sears was one of the first stores in the Indian Mall when it opened in 1968. After years of declining sales and changes in consumer behavior, it was also the last store to close in 2017.
Realty groups Gamble Land Co. and Math Investments bought the 82,000-square-foot Sears building and the nearly 6 acres it sat on for $4.9 million. Haag Brown has been working on mall redevelopment plans the past two years, which include updated building exterior designs, a covered plaza and a food truck area.
Concept art show Gamble Home will be at the eastern cap of the former Sears building and Gearhead and La-Z-Boy Comfort Studio in the middle, leaving a more than 25,000-square-foot space available for sale or lease.
This move is an expansion for Gamble Home and a replacement for Gearhead, whose Turtle Creek store was destroyed in a March tornado.