Real Estate Deal Closes on Land Purchase for New Convention Center and Hotel

AUGUST 1, 2005 - Posted at 5:10 p.m. CDT

JONESBORO, AR - The sale of 14 acres of prime Jonesboro commercial real estate that is the site for a proposed hotel and convention center is now a done deal.

Negotiators today closed a deal for the lot at the corner of Race Street and Fair Park Boulevard for $3 million, according to local realtor Fred Dacus.  The land is to be used for a new $46 million Marriott Courtyard Hotel and Convention Center, to be operated by Springfield, Missouri-based hotelier John Q. Hammons.

Hammons purchased the property from the Son-Tina Corporation.