REBusinessOnline

The Multifamily Group Brokers Sale of 242-Unit Apartment Complex in North Little Rock

NORTH LITTLE ROCK, ARK. — The Multifamily Group (TMG) has brokered the sale of Arrowhead Estates, a 242-unit apartment complex in North Little Rock. The property, which was originally built in 1968, offers one- and two-bedroom floor plans. Communal amenities include a pool, playground, basketball court, picnic area and a sundeck. The community is situated at 1707 Arrowhead Road, six miles north of downtown Little Rock. Paul Yazbeck of Dallas-based TMG represented the undisclosed seller in the …

Amazon to Develop Fulfillment Center, Delivery Station in Little Rock Totaling 910,000 SF

LITTLE ROCK, ARK. — Amazon will develop afive-story, 825,000-square-foot fulfillment center at the Port of Little Rock in Little Rock. Slated for delivery in 2021, the property is expected to house 1,000 employees who will work alongside Amazon Robotics to pick, pack and ship small items to customers such as books, electronics and toys. The center will sit on 80 acres along Zueber Road, which, according to the Arkansas Democrat-Gazette, an Amazon entity paid $3.2 million for. Seattle-based …

Pebb Capital Sells Apartment Complex in Conway, Arkansas for $17.5M

CONWAY, ARK. — Pebb Capital has sold Glenrock Apartments, a 180-unit apartment complex in Conway, for $17.5 million. Pebb acquired the property in 2016 when it was a 540-bed student housing community. The asset is located at 2730 Dave Ward Drive, one mile from the University of Central Arkansas campus. The Boca Raton, Fla.-based company converted the property, which now offers two-, three- and four-bedroom floor plans. Communal amenities include a 24-hour fitness center, saltwater pool, sand …

CapRocq Sells Mixed-Use Property in Rogers, Arkansas for $32.3M

ROGERS, ARK. — CapRocq Core 2 Real Estate Fund has sold Village on the Creeks, a 20-building, 220,153-square-foot retail and medical office complex in Rogers, for $32.3 million. The property was 93 percent leased to 66 tenants ranging from medical services to an art studio at the time of sale. The asset spans 22 acres along Interstate 49. The buyer was not disclosed, although the Northwest Arkansas Democrat Gazette reports the buyer is Ozre Capital. Kenai Capital Advisors and Colliers …

SRS Arranges $4M Sale of Retail Property in North Little Rock, Arkansas

NORTH LITTLE ROCK, ARK. — SRS Real Estate Partners National Net Lease Group has arranged the $4 million sale of an 8,000-square-foot retail property in North Little Rock. The property is fully leased to Vitamin Shoppe and Mattress Firm on their respective corporate-guaranteed triple-net leases. The property is situated at 4300 McCain Blvd., seven miles north of downtown Little Rock. The asset is an outparcel to a Lowe’s Home Improvement-anchored shopping center. Brian Wolfman of SRS …

Retailers Walmart, The Home Depot Report Increased Sales in First Quarter Despite Pandemic

BENTONVILLE, ARK. AND ATLANTA — Retailers Walmart and The Home Depot have reported increased sales during their respective first quarters. Bentonville-based Walmart, which operates on a fiscal year calendar running from Feb. 1 to Jan. 31, reported a spike of 74 percent in its e-commerce department, and an overall growth of 10 percent. Walmart’s total revenue reached $136.4 billion, which was 8.6 percent higher than first-quarter 2019. The uptick from e-commerce was mostly due to grocery …

Arkansas Governor: Gyms Allowed to Reopen Monday, Limited Dine-In at Restaurants May 11

LITTLE ROCK, ARK. — Arkansas Gov. Asa Hutchinson has rolled out Phase I plans for reopening the state. Hutchinson says gyms and fitness centers will be able to open Monday, May 4, while restaurants will be allowed to operate dine-in services at one-third capacity Monday, May 11.The guidelines for gyms and fitness centers include the use of facemasks for staff and patrons except when exercising, daily temperature checks for employees and patrons and social distancing of at least 12 feet …

Walmart Reaches Goal to Hire 150,000 Associates, Pledges to Hire 50,000 More Amid COVID-19 Crisis

BENTONVILLE, ARK. — Amid the COVID-19 crisis sweeping the nation, Walmart set a goal in mid-March of hiring 150,000 associates before May 1. Since then, the Bentonville-based retailer has hired an average of 5,000 people per day, surpassing its goal. Now Walmart has its sights set on hiring another 50,000 people. In a statement, the company said most of the new hires will be temporary who will support current associates and customers in locations with specific needs. Additionally, 85 percent …

Montecito Medical Acquires Two Outpatient Healthcare Facilities Totaling 35,000 SF in Northwest Arkansas

ROGERS, ARK. — Montecito Medical Real Estate has acquired two outpatient healthcare facilities in Rogers that are part of a six-building campus occupied by Mercy Health of Northwest Arkansas. The assets total 35,000 square feet and will remain fully leased to Mercy Health. The two buildings offer internal medicine, rheumatology and outpatient orthopedic services, including minimally invasive joint constructed replacement and spinal procedures through an ambulatory surgery center. The campus …

AKA Partners Acquires Self-Storage Facility in Metro Memphis for $8.9M

WEST MEMPHIS, ARK. — AKA Partners LLC has acquired Storage Depot, a climate-controlled self-storage facility in West Memphis, for $8.9 million. The Murray, Utah-based buyer plans to expand the property on the adjacent three acres. Storage Depot is situated at 701 Ark. Highway 77, nine miles west of downtown Memphis. AKA Partners has hired Argus Management to manage the property. Barclays provided acquisition financing. The seller was West Memphis-based DSB, a partnership between David …

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