Firm poised to develop area near interstate

Friday, June 13, 2014
Chickasaw Plaza, which was once home to Walmart and how houses J.C. Penney, could soon host new retail businesses. An investment group out of Brooklyn, N.Y., has purchased the property, and plans to renovate and develop the plaza, which includes the lot in front of the building.

An investment group out of Brooklyn, N.Y., has purchased Chickasaw Plaza and is working on renovating the structures and bringing in new retailers, according to their real estate representative.

Ryan George of Coldwell Banker Commercial Village Communities in Jonesboro said that the property recently sold, and includes the current J.C. Penney's, the old Walmart building which now sits vacant and all the lot in front of the two.

All told, the group will be renovating 60,000 square feet of vacant property.

"We're talking with a few national retailers right now, and have had some offers, so we're still putting that together, but renovations are starting anytime," he said.

The group is also talking with restaurants to fill vacant space near Taco Bell.

George said announcements should be made within the next few weeks about which retailers will be locating at the Plaza when renovations are complete.