JONESBORO, Ark. (KAIT) - After sitting vacant for several years, the old Sears building will have new tenants.
Gamble Home announced Wednesday it had purchased the property at the corner of Highland Drive and Caraway Road.
Gearhead Outfitters will be moving in, as well.
The goal, according to a news release from Gamble Home, is to create a locally owned and operated complex.
“We are two local businesses focused on making our city better and growing with it,” said Chris Gamble. “It just makes sense to expand with Gearhead Outfitters into midtown Jonesboro.”
Gamble Land Company and Math Investments purchased the 82,000 square-foot building and the 5.8 acres of land it sits on for $4,900,000, according to a news release from Haag Brown Commercial Redevelopment and Real Estate.
“This is the most meaningful retail transaction for Jonesboro in the last decade,” said Joshua Brown. “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.”
In addition to Gamble Home occupying the eastern end-cap, Haag Brown stated that La-Z-Boy Comfort Studio would occupy the middle portion of the building along with Gearhead Outfitters. The 25,000-plus western end cap will be available for sale or lease.
In addition to major renovations to the former Sears store, plans include the development of an open greenspace, a covered plaza, and a food truck area.
No word on when they expect to complete the remodel and open.
Both Gamble Home and Gearhead Outfitters sustained heavy damage in the March 28 tornado that severely damaged much of The Mall at Turtle Creek.
According to Haag Brown, Sears was one of the original stores in the Indian Mall when it opened in 1968 and was the last store to close in 2017.