JONESBORO, AR - MBC Holdings LLC of Jonesboro today revealed more plans for its newest retail project in northeast Arkansas, The Shoppes at CaraLand. The state-of-the-art open-air facility will occupy the former Indian Mall site at Jonesboro's Caraway Road and Highland Drive.
The 32-acre mall site will be razed and new construction will begin shortly. MBC Holdings will invest more than $50 million in the project, which will create more than 700 new jobs.
"This is an exciting day for us and an exciting day for Jonesboro," said Bruce Burrow, prinicipal of MBC Holdings. "Our goal is to create a shopping experience, and The Shoppes at CaraLand will provide the perfect combination of retail selection and lifestyle amenities to serve as a wonderful complement to The Mall at Turtle Creek."
Last year, MBC opened the $100 million Mall at Turtle Creek, which is located on Highland Drive, less than a mile away from The Shoppes at CaraLand.
MBC closed on the property Wednesday, purchasing Indian Mall from Texarkana-based Warmak & Company, which built the property in 1967.
The Shoppes at CaraLand will feature one major department store, several junior department stores, restaurants, extensive landscaping and potentially a multi-screen theater. Negotiations are underway with several potential tenants, including current Indian Mall tenant Sears. The property is expected to bring in more than $70 million in annual sales to Jonesboro.