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Stonemar Enters Market With $16M Retail Buy

JONESBORO, AR-Stonemar Properties buys Bernard Court and Crossroads Shopping Center, fully leased neighboring properties with a combined 155,000 sf.

By Amy Wolff Sorter | Updated on October 11, 2007

JONESBORO, AR-A New York City buyer has added 155,000 sf of retail space and a new market to its portfolio with the acquisition of two neighboring properties. Stonemar Properties has paid $16 million for the 105,000-sf Bernard Court and 50,000-sf Crossroads Shopping Center.

Bernard Court, situated on 10 acres at 1843 E. Highland Dr., is anchored by Hobby Lobby, Goody’s, and Shoe Carnival. It’s also adjacent to a Wal-Mart Supercenter. The four-acre Crossroads Shopping Center at 2400 E. Highland Dr. has Office Max, Pier 1 Imports and Mattress King as tenants. Both centers are 100% occupied.

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