Motivated by the propagation of nonlinear sound waves through relaxing hereditary media, we study a nonlocal third-order Jordan-Moore-Gibson-Thompson acoustic wave equation. Under the assumption that the relaxation kernel decays exponentially, we prove local well-posedness in unbounded two- and three-dimensional domains. In addition, we show that the solution of the three-dimensional model exists globally in time for small and smooth data, while the energy of the system decays polynomially.