2/1/2008

Colliers brokers $10M sale of Arkansas shopping center

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MBC Holdings has purchased the Indian Mall shopping center in Jonesboro, Ark., for $10.3 million from an entity doing business as Jonesboro Indian Mall.

Matthew Sullivan and Steven Lane of Colliers International represented the seller in the transaction while John White of John White Real Estate represented MBC.

Built in 1967, the Indian Mall is situated on 32.12 acres at 1901 Caraway Rd. It contains 326,480 square feet and is currently occupied by tenants such as Sears and Dillard's Outlet Store. The property also includes a free-standing Sears Auto Center.

Sullivan is a broker with Colliers and joined the company in June 2002 after leaving his post as a senior investment associate with Marcus & Millichap, a job he held for 18 years. He is a former employee of Charles Dunn Company and a member of the Urban Land Institute. Sullivan graduated from Pomona College in Claremont, Calif.

Address: 1901 Caraway Rd., Jonesboro, Ark.

Size: 326,480 square feet

Built: 1967

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Filed Under: Retail

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