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Arkansas

ArkansasDevelopmentSoutheastStudent Housing

Endeavor Breaks Ground on 1,009-Bed Student Housing Development Near University of Arkansas

by John Nelson

FAYETTEVILLE, ARK. — Endeavor Real Estate Group has begun construction on Juniper, a 1,009-bed student housing development located at 77 S. Duncan Ave. near the University of Arkansas campus in Fayetteville. The community will offer 294 units upon completion, which is scheduled for summer 2028. Shared amenities are set to include hospitality-themed gathering spaces; a rooftop pool and sky lounge; sauna and cold plunge; cabanas and grilling areas; a Jumbotron; fitness enter; yoga and Pilates studio; spin room; golf simulator; private courtyards; secured garage parking and bicycle storage; and 3,000 square feet of ground floor retail space. The project team for Juniper includes Endeavor Opportunity Partners III, Marble Capital, Kennedy Wilson, JLL, FaverGray, Modus Studios and Ecological Design Group.

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ArkansasDevelopmentHospitalityMarket ReportsSoutheastSoutheast Market Reports

By Flipping the Script on Value Engineering, AI ‘Saves’ Arkansas Hotel Project

by John Nelson

How did The Fay hotel in Fayetteville, Ark., save $500,000 mid-construction? How are other apartment, office and mixed-use developments doing the same, across the construction cycle? Developers are increasingly turning to artificial intelligence (AI) to flip the script on the challenge of value engineering that often dumbs-down original design plans. Value engineering is almost a constant in the business: A project is designed and priced during the feasibility and entitlement stage but three, four or five years later when construction starts, prices have jumped while the budget is the same. And prices go up for many reasons, such as materials costs, labor costs or regulatory issues — even for import tariffs, as we’ve seen the past year. But maybe we’re blaming the wrong culprit in giving “value engineering” a negative connotation.Now it’s time for the procurement process to take its turn in preserving value and design. Saving despite tariffsProactive procurement led to a half-million-dollar savings for real estate investor/developer Dwellist at its Fayetteville project. Dwellist is transforming a decades-old motel near the University of Arkansas into The Fay, its first Motelier-branded property, a full adaptive-reuse. Recently, materials ordering was running into cost-overruns that risked putting the overall project over budget. …

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ArkansasDevelopmentLeasing ActivityRetailSoutheast

Whole Foods to Open 39,500 SF Grocery Store in Rogers, Arkansas

by John Nelson

ROGERS, ARK. — Whole Foods Market plans to open a new 39,500-square-foot grocery store in Rogers on Feb. 18. The store will be located at 1801 S. 46th St. and will represent the third Arkansas location for the Austin-based grocer. The new Whole Foods will offer more than 120 different products sourced from Arkansas and its surrounding states, including coffee from Onyx Coffee Lab and craft beer from Ozark Beer Co. The Whole Foods will anchor Summit Marketplace, a mixed-use development by Atlanta-based SJC Ventures that also features the Vista at Summit apartments. Other tenants at Summit Marketplace include Woof Gang Bakery and Grooming, Dave’s Hot Chicken, Serotonin, Veterinary Emergency Group, Chase Bank, E’lan Nails and PJ’s Coffee.

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arkansas-warehouses
AcquisitionsArkansasIndustrialSoutheast

Cushman & Wakefield Commercial Negotiates Sale of Two Warehouses Totaling 160,000 SF in Maumelle, Arkansas 

by Abby Cox

MAUMELLE, ARK. — Cushman & Wakefield Commercial Advisors has negotiated the sale of two industrial warehouses located in the Little Rock suburb of Maumelle. The transaction included a 100,000-square-foot warehouse at 700 Burkhalter Commercial Drive and a 60,000-square-foot building at 400 Sharkey Drive. The two-building portfolio is currently 84 percent leased to tenants including United States Postal Service (USPS), Scholastic, Greentech Renewables and REM Plastic. Amazon was a tenant until its lease expired last month. Landon Williams and Katie Hargett of Cushman & Wakefield Commercial Advisors represented the seller, Burkhalter Property Group LLC, in the transaction. Box Acquisitions acquired the warehouses for an undisclosed price.

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4115 S. Zero St
AcquisitionsArkansasIndustrialSoutheast

DWG Capital Acquires 256,314 SF Industrial Facility in Fort Smith, Arkansas Leased to Stryten Energy

by Abby Cox

FORT SMITH, ARK. — DWG Capital Partners has acquired a 256,314-square-foot manufacturing and distribution facility located at 4115 S. Zero St. in Fort Smith, a city on the Arkansas-Oklahoma border. Stryten Energy, a U.S.-based energy storage solutions provider, has occupied the industrial property since its construction in 1975. Atlas Holdings, which recently announced plans in April 2025 to expand its domestic manufacturing footprint, owns and operates Stryten Energy. Mike Salmen and Andrew Watson of Transwestern represented the seller, a private ownership group, in the off-market transaction. The sales price was not disclosed.

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AcquisitionsArkansasHospitalitySoutheast

Marcus & Millichap Brokers Sale of 88-Room Homewood Suites Hotel in Fort Smith, Arkansas

by John Nelson

FORT SMITH, ARK. — Marcus & Millichap has brokered the sale of an 88-room Homewood Suites hotel located at 7300 Phoenix Ave. in Fort Smith. The sales price was not disclosed for the transaction, which is part of a two-property portfolio deal that included a Home2 Suites in Fort Smith. Chris Gomes and Steve Greer of Marcus & Millichap, along with Allan Miller of the firm’s Miller-Gomes Hotel Team, represented the seller, an entity doing business as Heritage Hotel Group LLC, and procured the buyer, a Texas-based entity doing business as FortSmith RA HS Hotel LLC.

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Morningstar-Storage
AcquisitionsArkansasFloridaGeorgiaIndustrialNorth CarolinaSelf-StorageSouth CarolinaSoutheastVirginia

Harrison Street, Morningstar Properties Acquire 21-Property Self-Storage Portfolio

by Abby Cox

CHICAGO AND MATTHEWS, N.C. — A joint venture between Chicago-based Harrison Street Asset Management and Matthews-based Morningstar Properties has acquired a portfolio of 21 self-storage properties totaling morning than 10,800 units. The properties are located in Texas, North Carolina, South Carolina, Florida, Georgia, Virginia and Arkansas, with 71 percent of the assets situated in top 30 U.S. metropolitan areas such as Houston, Austin, Charlotte and Atlanta. The portfolio was 90 percent leased at the time of sale and spans more than 1.3 million rentable square feet. Morningstar will continue operating and managing the portfolio. The seller was not disclosed. Harrison Street and Morningstar previously completed 41 self-storage investments across five Sun Belt states.

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ArkansasDevelopmentHealthcareSoutheast

McCarthy Delivers $185M Expansion of Mercy Hospital Fort Smith in Arkansas

by John Nelson

FORT SMITH, ARK. — McCarthy Building Cos. Inc. has delivered the new addition for Mercy Hospital Fort Smith, a hospital situated off Rogers Avenue in Fort Smith. The five-story addition spans 162,000 square feet and represents a $185 million expansion for the hospital, which opened in 1975. The expansion allows Mercy to accommodate approximately 25,000 more patients annually. Construction began in 2022 and increased the number of emergency rooms from 29 to 50, added six new trauma rooms and expanded the number of ICU beds from 36 to 64. Infrastructural upgrades include enhancements to the hospital’s mechanical penthouse, helipad and parking decks, along with an expanded central utility plant and the addition of a 22-bed observation unit in the former ICU space. The design-build team for the expansion project included ENFRA (mechanical engineer), HKS Architects, Olsson Associates (civil engineer) and Northstar Management (program manager). Mercy is one of the 15 largest health systems in the United States and serves patients in Arkansas, Kansas, Missouri and Oklahoma.

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AcquisitionsArkansasSoutheastStudent Housing

Aptitude Development Sells 647-Bed Student Housing Community Near University of Arkansas

by John Nelson

FAYETTEVILLE, ARK. — Aptitude Development has sold The Marshall Arkansas, a 647-bed student housing development located near the University of Arkansas campus in Fayetteville. Newmark brokered the disposition of the property to an undisclosed institutional investor. Terms of the transaction were not released. Developed in 2021, The Marshall Arkansas offers units in a mix of one-, two-, three- and four-bedroom configurations. Shared amenities include a resort-style pool and hot tub, outdoor kitchen, rooftop terrace, fitness center and fitness lawn, private and shared study spaces and a game room.

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ArkansasDevelopmentSoutheastStudent Housing

Subtext, Kayne Anderson to Break Ground on 845-Bed Student Housing Development Near University of Arkansas

by John Nelson

FAYETTEVILLE, ARK. — A joint venture between Subtext and Kayne Anderson is set to break ground on VERVE Fayetteville, an 845-bed student housing development located at 707 W. Treadwell St. near the University of Arkansas campus in Fayetteville. The community will span 532,300 square feet and offer 272 units in one- through four-bedroom configurations. The property will feature 33,000 square feet of indoor and outdoor amenity spaces, including open and private study areas; a coffee café; sports simulator; resort-style pool and hot tub; fire pits; and a fitness and wellness center with cardio equipment, weights, yoga rooms, private wellness rooms and a sauna. The project is scheduled for completion in August 2027. The development team includes Kennedy Wilson, Brinkmann Constructors, Modus Studio and Vida Design. Additional contributors include AJC Design Group, Viewtech, McClelland Consulting Engineers and ENGR3. John Rowland and Steve Lane of Colliers | Arkansas served as the exclusive brokers on the sale of the VERVE Fayetteville development site.

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