Jonesboro, AR – (JonesboroRightNow.com) – Sept. 9, 2025 – Over five years since a tornado destroyed the Mall of Turtle Creek, the previously occupied property could soon be under new ownership.

According to a listing on RI Marketplace, Atlantic Captial Partners is accepting bids on the property until 12:45 p.m., Sept. 10. The property up for bids consists of 38.89 acres of land, with 30.93 of it available for development.

Jonesboro Mayor Harold Copenhaver said he has had several companies call him directly and visit him about the property, even from those outside of Arkansas.

“They see that this is an opportunity, and that’s a good thing, and that’s what we want to produce,” he said.

Getting to the bidding process has taken four years, as according to Copenhaver, due to the property having multiple ownership levels and being privately owned. Cleaning up storm damage also played a role.

“Now, a developer doesn’t have to purchase the redevelopment part of that property, so it’s already in place. We wanted to make sure that property was a viable piece of property where it could be sold, and it was brought up to code,” he said.

As for the three businesses located around the property, that being Target, JCPenney, and Dillard’s, Copenhaver said they will not be going away once a new owner has been selected.

He explained that the leaders from the businesses have asked the city what it would like to see and what the expectations are for the property. Potential developers have also spoken with the business leadership, Copenhaver added.

Copenhaver said there will not be any significant infrastructure upgrades to the property unless the new property owner is requesting that, provided the changes meet city code.

Depending on when the new owner is selected, Copenhaver hopes they will reach out to him to have open conversations on what will be done with the property and when. He said he knows the relevance and importance of what the property can be for the city, adding he wants to keep economic development in the area.

“We want people to come here to shop. It’s a safe area, a safe community, and it’s close to the airport. We’re doing a lot of infrastructure upgrades as well around that area,” he said.

Copenhaver said, realistically, it could take two to three years for a potential project to be developed on the property. Based on talks with different developers, the project may lean toward an outdoor-type development, as he said it’s a more financially stable option.

“I think what we all have to understand is that the enclosed malls, that’s a thing of the past, unfortunately,” he said. “We liked it here in the community, but overall, nationwide, that’s just not an investment that those investors are willing to do more of the outside creativity, where people walk around, maybe have an outdoor splash pad amongst the shops.”

All in all, Copenhaver wants to make sure that whoever is selected, they bring something in that can rekindle the memories of people going to the mall and having a good time, all with new additions to enhance the experience.

“We have improved our infrastructure, so we now have additional sidewalks. We’re going to have more trails that will connect it as well. We have so many things that will be local to where people coming into our community for the first time will have the opportunity to just go a quarter of a mile to shop at an outdoor mall, so I’m looking forward to it,” he said.

Currently, the highest bid on the property is $1 million. Read more about the property by clicking here.