Old Indian Mall property sold to Memphis group

JONESBORO, AR (KAIT) - The Old Indian Mall property has been sold.

According to a news release from Haag Brown Commercial Real Estate and Development, an investment company from Memphis, TN - Highland Street Group - closed on the property Thursday.

HSG will utilize Haag Brown to develop the land.

"We are not ruling out any possibilities for this space," said Haag Brown Commercial Principal Greg Haag. "We envision the old Indian Mall parking lot once again full of consumers and new employees. It will be a boost of momentum for the Jonesboro retail market."

The project will also get a new name. One that will play on everyone's fond memories of the old Indian Mall.

"Our team has worked up several different marketing campaigns," said Haag Brown Commercial Principal Joshua Brow. "Most people in Northeast Arkansas have a warm, fuzzy, nostalgic feeling when they hear, "Indian Mall". We may incorporate that into our name and branding efforts."

Haag Brown said changes will also come to that intersection as there's interest in the old Kmart space.

"Over the past (24) months, our firm has been intimately involved at this intersection," said Haag Brown Commercial Principal Joshua Brown. "We are in final negotiations with three tenants who will completely transform the old Kmart space at the Highland Square Shopping Center."

To read the full news release from Haag Brown, click here.

No stores or companies have been named so far.

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