Arkansas

Colliers Secures $19.4M Refinancing Loan for Multifamily Community Near Little Rock

by Alex Tostado November 20, 2020

CABOT, ARK. — Colliers Mortgage, a division of Colliers International, has provided a $19.4 million Fannie Mae refinancing loan for The Pointe at Cabot. The 180-unit multifamily community is situated at 3001 W. Main St. in Cabot, 26 miles northeast of downtown Little Rock. The 10-year loan features a 30-year amortization schedule. The Pointe at Cabot comprises 14 two- and three-story buildings, a single-story leasing office and a single-story pool building. Communal amenities include a pool, fitness center, clubhouse, a business center and grilling and picnic areas. The borrower was The Pointe at Cabot LLC.

November 20, 2020

Arkansas Company News Retail Southeast

Walmart’s E-Commerce Sales Jump 79 Percent in Third Quarter

by Alex Tostado November 17, 2020

BENTONVILLE, ARK. — Walmart (NYSE: WMT) has reported that its third-quarter e-commerce sales grew 79 percent from the same period a year ago. Comparable sales, defined as those from stores that operated during the entire 12-month fiscal year, went up 6.4 percent. The Bentonville-based retailer’s revenue during its fiscal third quarter reached $134.7 billion, a 5.2 percent increase over the same time period a year ago. Walmart’s third quarter ended on Oct. 31. The company’s stock price closed Monday at $152.69 per share, up from $120.25 per share one year ago.

November 17, 2020

Arkansas Development Multifamily Southeast Student Housing

Servitas, National Park College Complete 180-Bed Student Housing Project in Hot Springs, Arkansas

by Alex Tostado August 24, 2020

HOT SPRINGS, ARK. — A public-private partnership between Servitas and National Park College has completed construction of Dogwood Hall, a 180-bed residence hall that will serve students of the public community college in Hot Springs. The community is National Park College’s first on-campus student housing building. The three-story property comprises 52 fully furnished units. Communal amenities include study lounges on each floor, package lockers, an onsite laundry room and resident parking. Servitas served as lead developer for the project and will manage the community. The development team also included BGO Architect, Design Collective, Annex and Stevens Financing. Students began moving into Dogwood Hall on Aug. 20 and in-person classes at National Park began today.

August 24, 2020

Arkansas Company News Retail Southeast

E-Commerce Sales for Walmart Grow 97 Percent in Second Quarter, Same Store Sales Up 9.3 Percent

by Alex Tostado August 18, 2020

BENTONVILLE, ARK. — Walmart’s e-commerce sales jumped 97 percent in the second quarter, which ended July 31. The Bentonville-based retailer increased its e-commerce capabilities, including increasing same-day delivery and curbside pick-up options as well as hiring at least 200,000 people during the pandemic. Walmart includes a grocery section, deeming the retailer essential and allowing it to remain open through the crisis. Additionally, the U.S. government passed the CARES Act, which included stimulus checks for millions of Americans. As a result of increased spending, Walmart’s same-store sales increased 9.3 percent in the second quarter. Total revenues rose 5.6 percent to $137.74 billion from $130.38 billion a year earlier. The company incurred $1.5 billion of COVID-related costs during the second quarter, including benefit payments and inventory purchases. Sales at Sam’s Club locations were up 8.8 percent in the second the quarter. E-commerce sales increased 39 percent.

August 18, 2020

Acquisitions Arkansas Multifamily Southeast

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

by Alex Tostado August 12, 2020

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 transaction and procured the undisclosed buyer. The sales price was also not disclosed.

August 12, 2020

Arkansas Development Industrial Southeast

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

by Alex Tostado July 9, 2020

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 Amazon is also planning an 85,000-square-foot delivery station near Interstate 30. Items at the fulfillment center will be shipped to the delivery station, which will serve in the last-mile delivery effort. The station, which will be Amazon’s second in Little Rock, is expected to open by the end of this year. According to the Gazette, Amazon is spending $8 million to renovate the warehouse for the delivery station.

July 9, 2020

Acquisitions Arkansas Multifamily Southeast

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

by Alex Tostado June 9, 2020

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 volleyball and basketball courts, business center, game room, coffee bar and tanning beds. The buyer was not disclosed.

June 9, 2020

Acquisitions Arkansas Mixed-Use Southeast

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

by Alex Tostado May 28, 2020

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 International | Arkansas represented the seller in the transaction.

May 28, 2020

Acquisitions Arkansas Retail Southeast

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

by Alex Tostado May 26, 2020

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 represented the seller, Los Angeles-based McCain Plaza LLC, in the transaction. Aaron Hines of Marcus & Millichap represented the buyer, New Mexico-based G&T Investments LLC, which was completing a 1031 exchange. Tyler Johnson of Pegasus Capital Markets represented the buyer in sourcing acquisition financing.

May 26, 2020

Arkansas Company News Georgia Retail Southeast

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

by Alex Tostado May 19, 2020

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 pick-up and delivery services. Additionally, overall sales for Sam’s Club was up 12 percent and e-commerce demand for the Walmart-owned brand jumped 40 percent. The Home Depot, which is based in Atlanta, reported sales reached $28.3 billion, which was 7.1 percent higher than its first-quarter 2019. The Home Depot’s fiscal year ends Feb. 2. Despite the increased sales, the company’s revenue dipped by $300 million from first-quarter 2019 due to expanded benefits for its employees. Some of the benefits include extra time off for hourly employees, more still for associates 65 years of age and older, doubled overtimes rate, weekly bonuses for hourly employees and extended dependent care benefits and waived related co-pays.

May 19, 2020

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