Arkansas

Mia Rose, ERC Construction Break Ground on 234-Unit Multifamily Community in Springdale, Arkansas

by Julia Sanders February 24, 2021

SPRINGDALE, ARK. — Mia Rose Holdings and ERC Construction Group have formed a joint venture to build Pure Springdale, a 16-building, 234,000-square-foot multifamily community in Springdale. Courtyard Building and Block LLC is the architect, Crafton Tull is the engineer of record and Trinity Multifamily is the property manager. Mia Rose and ERC recently broke ground on the 234-unit property, which is scheduled to be complete in fall 2022. The project includes new construction of one- and two-bedroom apartment units on 13.7 acres. The apartment complex will feature walking trails, three ponds, a resort-inspired pool, 1,300-square-foot fitness center, technology lounge/business center, gated dog park and numerous green spaces with grills and seating. All units will have washers and dryers, Energy Star-rated kitchen appliances, energy-efficient mechanical systems, upgraded interior finishes and window coverings. Single-car garages will be available for 32 residents at an additional fee. Pure Springdale is the first joint venture project between Mia Rose Holdings and ERC Construction Group LLC. Mia Rose Holdings is a St. Louis-based developer, and ERC Construction Group is an Arkansas-based general contractor.

February 24, 2021

Acquisitions Arkansas Restaurant Retail Southeast

MAG Capital Partners Acquires 14,004 SF Entertainment Venue in Fayetteville, Arkansas

by Julia Sanders February 22, 2021

FAYETTEVILLE, ARK. — MAG Capital Partners has acquired a 14,004-square-foot restaurant, brewery and entertainment venue in Fayetteville. The property is operated by JBGB Restaurant and JJ’s Beer Garden & Brewery, and offers an outdoor playground, a stage for live music and a 225-seat dining area. The new ownership plans to immediately break ground on a 10,921-square-foot expansion of the JBGB restaurant and venue. Judd Dunning of DWG Capital Group arranged the sale-leaseback transaction on behalf of MAG Capital Partners. T.J. Lefler with Sage Partners represented the seller, JBGB Restaurant and Brewery. MAG Capital Partners is a private commercial real estate investment firm based in Fort Worth, Texas.

February 22, 2021

Acquisitions Arkansas Multifamily Southeast

Cushman & Wakefield Arranges Sale of 237-Unit Multifamily Community in Springdale, Arkansas

by Julia Sanders February 18, 2021

SPRINGDALE, ARK. — Cushman & Wakefield has facilitated the sale of Towne Park at Har-ber, a 237-unit apartment community located in Springdale. Martin Bynum and Craig Hey of Cushman & Wakefield represented the Little Rock-based seller, BSR REIT, in the transaction. Block Funds bought the property for $31.7 million, according to the seller. Constructed in 2016, Towne Park at Har-ber is located at 257 Arborside Road, 68 miles from Fort Smith Regional Airport. Amenities include swimming pool with sun deck, fully equipped fitness center and a community clubhouse.

February 18, 2021

Acquisitions Arkansas Industrial Self-Storage Southeast

Goldman Investment Advisors Brokers $4.1M Sale of Self-Storage Property Near Memphis

by Alex Tostado January 20, 2021

WYNNE, ARK. — Goldman Investment Advisors has brokered the $4.1 million sale of Handy Rentals, a 96,455-square-foot self-storage property in Wynne. The property spans nine acres and is located at 1306 S. Falls Blvd., 49 miles west of downtown Memphis. Milwaukee-based Bank Five Nine provided acquisition financing to the buyer, Wynne Properties Group. Larry Goldman of Goldman Investment Advisors represented the undisclosed seller in the transaction. Goldman Investment Advisors is an affiliate of Denver-based Argus Self Storage Advisors.

January 20, 2021

Arkansas Loans Multifamily Southeast

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

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