The site of the former Mall at Turtle Creek in Jonesboro, Arkansas, has been sold to a local developer, paving the way for a significant redevelopment project. The new owner plans to construct a 96,000-square-foot retail building aimed at attracting national tenants, including some that operated in the original mall before it was destroyed by a tornado in 2020.
The sale marks a pivotal moment in the recovery of a key commercial corridor in Jonesboro. The transaction was confirmed by Josh Brown of Haag Brown Commercial Real Estate and Development, who represented the buyer in the auction.
Key Takeaways
- The 38.89-acre property of the former Mall at Turtle Creek has been purchased at auction.
- The buyer is Turtle Creek Jonesboro, LLC, an entity organized by Paragould-based Keith Bayird.
- Plans include a new 96,000-square-foot building to house national retail tenants.
- The project aims to revitalize the commercial area significantly damaged by the March 2020 tornado.
New Ownership and Development Vision
The property, located at 3000 E. Highland Drive, was acquired by Turtle Creek Jonesboro, LLC. State records show the limited liability company was officially formed on September 12, with Keith Bayird of Paragould listed as the organizer. The purchase price was not disclosed.
Josh Brown, a principal at Haag Brown Commercial, stated that his firm has worked with the client on numerous projects over the years. He outlined an ambitious vision for the site that focuses on rebuilding the retail landscape of the area.
“We expect there to be a new 96,000-square-foot building that will be leased to national tenants—some who used to be in the mall before the tornado,” Brown said.
This plan signals a strategic effort to not only fill the void left by the mall's destruction but also to modernize the retail offerings available to the community. The focus on national tenants suggests a goal of creating a stable and high-traffic shopping destination.
Attracting Anchor Tenants and Restoring Commerce
A crucial element of the redevelopment strategy is securing a major anchor tenant to drive foot traffic and attract other businesses. According to Brown, this process is already underway and showing positive results.
“We have already had interest from a serious anchor tenant who would bring huge new life to the property,” he noted. The identity of this potential tenant has not been revealed, but their commitment would be a significant catalyst for the project's success.
The 2020 Tornado's Impact
On March 28, 2020, an EF-3 tornado struck Jonesboro, causing extensive damage across the city. The Mall at Turtle Creek, a central hub for retail and community life, sustained a direct hit and was largely destroyed. The event displaced dozens of businesses and had a lasting economic impact on the region. This new development represents a major step in the long-term recovery effort for the East Highland Drive commercial corridor.
The brokerage team from Haag Brown Commercial, led by Zac Qualls and Nathan Eller, will spearhead the leasing efforts. Their primary objective will be to recruit a mix of retailers that meets the needs of Jonesboro residents and restores the area's status as a primary shopping district.
The redevelopment is not just about constructing a new building; it is about rebuilding consumer confidence and re-establishing a commercial anchor for the city. The return of familiar national brands that were previously in the mall could play a significant role in this process.
A Five-Year Effort Comes to Fruition
The sale of the property is the culmination of five years of persistent work by Haag Brown Commercial. Since the 2020 tornado, the firm has been actively involved in efforts to relocate displaced retailers and recruit new businesses back to the Jonesboro market.
The destruction of the mall created a significant retail vacuum and presented complex challenges for developers and city planners. The large, centrally located parcel required a buyer with a clear vision and the resources to execute a large-scale project.
Property at a Glance
- Location: 3000 E. Highland Dr., Jonesboro, AR
- Size: 38.89 acres
- Previous Structure: The Mall at Turtle Creek
- Proposed New Structure: 96,000-square-foot retail building
This long-term commitment underscores the economic importance of the site. Retail centers like the former mall are major sources of sales tax revenue and employment. Its revival is seen as essential for the continued economic health of Jonesboro.
Brown expressed optimism about the project's broader implications for the city. “We are very excited about what this will mean for the community,” he stated. The development is expected to create construction jobs in the short term and permanent retail jobs once the new center opens.
Economic Outlook for Jonesboro
The redevelopment of the former mall site is poised to have a significant positive effect on the local economy. The construction phase alone will inject capital into the community and provide employment opportunities. Once completed, the new retail center will generate consistent sales tax revenue, which funds essential public services.
Furthermore, the presence of a modern, vibrant shopping center can attract more investment to the surrounding area. It can also help retain local consumer spending that might otherwise go to other cities or online retailers. The project serves as a strong indicator of investor confidence in the Jonesboro market.
Local officials and business leaders have long awaited a concrete plan for the highly visible property. This announcement provides a clear path forward, replacing years of uncertainty with a tangible development plan that promises to restore a vital piece of the city's economic infrastructure.
