Arkansas

HFF Negotiates Sale of 308-Unit Multifamily Property in Fayetteville, Arkansas

by Camren Skelton September 25, 2018

FAYETTEVILLE, ARK. — HFF has arranged the sale of Uptown Fayetteville Apartments+Shops, a 308-unit apartment community in Fayetteville. The eight-building property is located at 3959 N. Steele Blvd., roughly four miles north of downtown Fayetteville and the University of Arkansas. Steven Hahn Jr., Roberto Casas and Greg Toro of HFF arranged the transaction on behalf of the seller, Specialized Real Estate Group. In addition, Brian Carlton of HFF arranged a 10-year, fixed-rate acquisition loan through Freddie Mac on behalf of the buyer, Sun Holdings Group. The sales price and financing amount were not disclosed. Constructed in 2017, Uptown Fayetteville Apartments+Shops includes a mix of studio to two-bedroom units averaging 828 square feet, as well as 17,000 square feet of ground-floor retail. The LEED-certified community features a heated saltwater pool, outdoor gathering space, community garden, landscaped roof deck, outdoor grilling area, fitness center and direct access to the Razorback Regional Greenway, a 36-mile, multi-use trail.

September 25, 2018

Arkansas Leasing Activity Retail Southeast

GBT Realty Signs Six New Tenants to 170,000 SF Shopping Center Near Little Rock

by Camren Skelton August 21, 2018

BENTON, ARK. — GBT Realty Corp. has signed six new tenants to The Shoppes of Benton, a 170,000-square-foot shopping center in Benton, roughly 25 miles southwest of Little Rock. Fast-casual restaurant chains Red Robin and Freddy’s Frozen Custard & Steakburgers just opened at the center, and Flowers + Home, Avalon Nails, Mathnasium and Hotworx opened this summer. The new retailers are joining existing tenants including Hobby Lobby, T.J. Maxx/HomeGoods, PetSmart, Ulta Beauty, Tuesday Morning, Rack Room Shoe’s, Maurices’s and Texas Road House. With the new storefronts, The Shoppes of Benton is 97 percent leased.

August 21, 2018

Acquisitions Arkansas Multifamily Seniors Housing Southeast Tennessee

IPA Negotiates Sale of Three-Property Seniors Housing Portfolio in Tennessee, Arkansas

by Camren Skelton August 6, 2018

CHICAGO — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of the Clarity Pointe Portfolio, a three-property, 174-unit seniors housing portfolio located in Knoxville, Tenn., and Fayetteville and Little Rock, Ark. Joshua Jandris, Matthew Andriano and Mark Myers of IPA arranged the transaction on behalf of the seller, a joint venture between Chicago-based Harrison Street Real Estate Capital and Life Care Services. IPA correspondent Jordyn Berger and independent mortgage broker Jim Nahal arranged a 75 percent bridge-to-HUD loan through Dwight Capital on behalf of the buyer, an owner/operator based in the Southwestern United States. The sale of the Clarity Pointe portfolio marks IPA’s fifth standalone memory care facility closing in the last 10 months.

August 6, 2018

Arkansas Development Office Southeast

CBRE Arranges Sale of 17-Acre Parcel Near Bentonville, Buyer to Develop Office/Flex Space

by Camren Skelton July 9, 2018

ROGERS, ARK. — CBRE has arranged the sale of a 17-acre parcel of land located at 5911 W. Myers Ranch Blvd. in Rogers, roughly eight miles southeast of Bentonville. David Erstine of CBRE arranged the transaction on behalf of the buyer, Venture Park LLC, which acquired five of the six available lots for the development of Class B office/flex space. A separate party acquired the sixth lot for the development of a restaurant. The land, formerly known as Myers Ranch, will be rebranded as Venture Park. The office/flex space will range from 20,000 to 60,000 square feet and will offer open, collaborative workspaces. A construction timeline for the project was not disclosed.

July 9, 2018

Acquisitions Arkansas Hospitality Southeast

CBRE Arranges Sale of 90-Room Courtyard by Marriott Hotel in Bentonville, Arkansas

by Camren Skelton June 20, 2018

BENTONVILLE, ARK. — CBRE has brokered the sale of a 90-room Courtyard by Marriott hotel located at 1001 McClain Road in Bentonville. Nate Sahn, James Foxx, Pravin Boteju and David Erstine of CBRE arranged the transaction on behalf of the seller, Hawkeye Hotels. CBRE’s Marc Sallette and Olga Lepow arranged acquisition financing on behalf of the buyer, SMC Hotels. Other terms of the deal were not disclosed. The hotel, located near downtown Bentonville, features an indoor pool, fitness center and onsite dining at The Bistro.

June 20, 2018

Acquisitions Arkansas Industrial Southeast

Binswanger Arranges Sale of 288,137 SF Industrial Building in Conway, Arkansas

by Camren Skelton June 18, 2018

CONWAY, ARK. — Binswanger has brokered the sale of a 288,137-square-foot industrial building located at 1800 Sturgis Road in Conway. Holmes Davis of Binswanger arranged the transaction on behalf of the seller, Nucor Corp. Eliken Property Management acquired the asset for an undisclosed price. The single-story facility was constructed in 1995 and features reinforced concrete floors, insulated metal panel walls, an insulated metal roof, eight dock-high doors, 21,149 square feet of office space, lighted parking for approximately 200 cars and a 300-foot interior rail spur with service provided by Union Pacific Railroad. The building is located roughly 10 miles form Conway Regional Airport and 30 miles from Little Rock Adams International Airport.

June 18, 2018

Arkansas Development Healthcare Southeast

NexCore Starts Construction on 42,133 SF Research Facility Near Little Rock for Healthcare Provider

by Camren Skelton May 4, 2018

SHERWOOD, ARK. — Denver-based NexCore Group has broken ground on a 42,133-square-foot research and education facility for CHI St. Vincent, an Arkansas-based regional healthcare provider, in the Little Rock suburb of Sherwood. Located at 6020 Warden Road, the facility will be located on CHI St. Vincent’s North Little Rock campus, and will serve as the new home of the Arkansas Neuroscience Institute. The building will include a research laboratory, auditorium, classrooms, an exhibit area and office space for physician practices, expanding the list of services offered to patients on one campus. The Arkansas Neuroscience Institute will relocate its surgical and clinical operations to the new facility by the end of the year. The education and research center is expected to open in early 2019.

May 4, 2018

Arkansas Loans Multifamily Southeast

Dougherty Provides $19.8M Fannie Mae Refinancing for Apartment Asset in Bentonville, Arkansas

by Camren Skelton April 5, 2018

BENTONVILLE, ARK. — Dougherty Mortgage LLC has provided a $19.8 million Fannie Mae loan for the refinancing of The Pointe at Bentonville, a 170-unit apartment community in Bentonville. The 10-year loan features a 30-year amortization schedule. Dougherty Mortgage closed the loan on behalf of the borrower, The Pointe at Bentonville LLC. The community features a mix of one-, two- and three-bedroom units and features a business center, clubhouse, coffee bar, tanning salon, library, fitness center, picnic area, pool, movie theater and a game room.

April 5, 2018

Arkansas Development Multifamily Seniors Housing Southeast

Abby Development Starts Construction of 92-Unit Seniors Housing Community Near Little Rock

by Camren Skelton March 28, 2018

CONWAY, ARK. — Abby Development has broken ground on Ridgemere, a 92-unit seniors housing community in the Little Rock suburb of Conway. Located on 14 acres, Ridgemere will offer independent living, assisted living and memory care units. The previously announced project was formerly known as Arabella of Conway. Independent living units will be split among 20 cottages offering a variety of floorplans averaging 1,485 square feet. Abby Development is a Dallas-based seniors housing developer, owner and operator. The company’s portfolio includes five communities in Texas, Louisiana and Arkansas.

March 28, 2018

Arkansas Retail Southeast Top Stories

Sam’s Club to Shutter 63 Stores, Convert 12 to E-Commerce Facilities

by Kristin Harlow January 12, 2018

BENTONVILLE, ARK. — Sam’s Club, a division of Wal-Mart Stores Inc. (NYSE: WMT), has announced that it will close 63 club locations across the country. The company will convert up to 12 of the impacted clubs into e-commerce fulfillment centers in efforts to speed delivery of online orders. In addition, the company’s legal name will become Walmart Inc. effective Feb. 1 to reflect its growing status as an omnichannel retailer. Sam’s Club is a retailer that offers wholesale sizes and prices to individual buyers who purchase a membership to the store. “Transforming our business means managing our real estate portfolio, and Walmart needs a strong fleet of Sam’s Clubs that are fit for the future,” says John Furner, president and CEO of Sam’s Club. After the closures are completed over the next few weeks, Sam’s Club will operate a total of 597 locations nationwide. A list of affected stores was not disclosed. A facility in Memphis, Tenn. will be the first club to be converted into an e-commerce center. In addition to focusing on its e-commerce business, Sam’s Club is expected to improve its grocery selection and private-label offerings, according to national media reports. Competition from Costco and BJ’s Wholesale …

January 12, 2018

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