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Matthews Arranges $16.1 Million Portfolio Sale of Eight Stores Leased to Family Dollar-Dollar Tree

by Hayden Spiess

Nashville, Tenn. — Nashville-based Matthews Real Estate Investment Services has arranged the $16.1 million portfolio sale of eight stores leased to the combo Family Dollar-Dollar Tree discount retail concept. The stores are located in Blountsville and Clayton, Alabama; Pauls Valley, Warner and Maud, Oklahoma; Edison, Georgia; Lincoln, Arkansas; and Coldiron, Kentucky. Josh Bishop of Matthews represented the seller, an unnamed developer that built the stores. The undisclosed institutional buyer purchased the properties at a cap rate of 6.4 percent.

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ArkansasInvestment salesNews

Inland Private Capital Corp. Sells Little Rock, Arkansas Shopping Center for $14.6 Million

by Hayden Spiess

Little Rock, Ark. — Inland Private Capital Corp. (IPC) has sold Chenal Commons Shopping Center in Little Rock for $14.6 million. The 70,147-square-foot property is comprised of two buildings, which were fully leased at the time of sale to tenants including Petco, Shoe Carnival, Old Navy, Ulta Beauty, David’s Bridal, Great Clips, Kirkland’s Home and Elegant Nails and Spa. IPC sold the property on behalf of Chenal Commons DST, a 1031 investment program.

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ArkansasInvestment salesNews

Mid-America Arranges Sale of 282,608-Square-Foot Shopping Center in Russellville, Arkansas

by Katie Sloan

Russellville, Ark. — Mid-America Real Estate Corp. has arranged the sale of Valley Park Centre, a 282,608-square-foot shopping center located in the Arkansas River Valley community of Russellville. The property was 95 percent occupied at the time of sale by tenants including TJ Maxx, Ross Dress for Less, Belk, JC Penney, Shoe Carnival, Hibbett, Hobby Lobby, PetSmart and Five Below. Ben Wineman of Mid-America and Hank Kelley of Kelley Commercial Real Estate Partners represented the sellers, an affiliate of RCG Ventures and an undisclosed New York City-based joint venture partner, …

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Walmart Posts Growth in Fiscal Third-Quarter Earnings, Raises Future Revenue Projections

by Julia Sanders

Bentonville, Ark. — Walmart Inc. (NYSE:WMT) posted growth in earnings during its fiscal third quarter of 2021, which ended Oct. 31. Walmart’s total revenue was $140.5 billion, an increase of 4.3 percent from a year earlier when it was $134.7 billion. These numbers were also higher than Wall Street’s predictions of $135.6 billion, according to CNBC. According to Refinitiv, the discount retailer’s earnings per share were $1.45 adjusted versus $1.40 expected. Additionally, Walmart’s e-commerce sales increased 8 percent during the fiscal third quarter and 87 percent over a two-year period. …

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Walmart Plans to Hire 150,000 Associates in Preparation for Holiday Season

by Julia Sanders

Bentonville, Ark. — Walmart, has released plans to hire approximately 150,000 new store associates, with most of the job positions being permanent and full-time. The Bentonville, Arkansas-based retailer wants to hire new employees ahead of the holiday season to ensure its stores are highly staffed for the predicted busy months. This July, the discount retailer announced its education program called Live Better U, in which it will invest approximately $1 billion over the next five years to pay for college tuition and books for its employees. Walmart also offers an …

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Walmart Sees Increase in Second-Quarter Revenue Due to E-Commerce, Grocery Shopping

by Julia Sanders

Bentonville, Ark. — Bentonville, Arkansas-based Walmart Inc. (NYSE: WMT) has seen an increase in revenue during its fiscal second quarter of 2021, which ended on July 31. Walmart’s total revenue was $141 billion, an increase of 2.4 percent year-over-year. According to Refinitiv, the discount retailer’s earnings per share was $1.78 adjusted, while it was expected to be $1.57, and the company’s revenue was $141.05 billion, higher than the $137.17 billion expected. The retailer revised its 2021 forecast and is now predicting its earnings per share to range from $6.20 to …

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ArkansasDevelopmentNews

KMK Equity Breaks Ground on 15,503-Square-Foot Retail Center in Lowell, Arkansas

by Julia Sanders

Lowell, Ark. — KMK Equity has broken ground on a 15,503-square-foot retail center at Independence Plaza, a 30-acre development with office, retail and hospitality space in Lowell. The retail center is set for delivery in early 2022. The development will consist of seven retail stores; two outdoor patios; and two drive-thrus on each end of the building. The remaining six lots on the property are zoned for a restaurant, hotel and four office buildings. David Erstine and Alex Schemel of CBRE in Fayetteville are marketing the project’s office and retail …

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ArkansasInvestment salesNews

CBRE Arranges $30.1 Million Sale-Leaseback of Grocery Store Portfolio Across Arkansas, Missouri

by Katie Sloan

Springdale, Ark. — CBRE has arranged a $30.1 million sale-leaseback of 13 freestanding grocery stores leased to Harps Foods Stores Inc. totaling 459,525 square feet in Arkansas and Missouri. Harps sold the portfolio to New Jersey-based Essential Properties Realty Trust Inc. Will Lightfoot, Jason Little, David Erstine and Hunter Groce of CBRE represented the seller in the transaction. All 13 properties were sold subject to new, long-term net leases with Harps and will continue to operate under Harps-operated brands, including Harps Food Stores and 10Box. The sale will not affect store operations …

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ArkansasInvestment salesNews

MAG Capital Acquires 14,004-Square-Foot Entertainment Venue in Fayetteville, Arkansas

by Katie Sloan

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, president of DWG Capital Group, arranged the sale-leaseback transaction on behalf of MAG Capital. T.J. Lefler with Sage Partners represented the seller, JBGB Restaurant and …

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

by Alex Tostado

Bentonville, Ark. — Walmart 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.

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