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Arkansas

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ArkansasInvestment salesNews

Hanley Brokers Sale of 145,588-Square-Foot Retail Center in Harrison, Arkansas 

by Hayden Spiess

Harrison, Ark. — Hanley Investment Group Real Estate Advisors has brokered the sale of a 145,588-square-foot retail center located in Harrison. Originally built in 1978, the property was expanded in 2020. Tenants at the center, which was 95 percent occupied at the time of sale, include Tractor Supply, Planet Fitness, Big Lots, Dunham’s Sports, Golden Tickets Cinemas, Factory Connection and Popeyes. Jeff Lefko, Kevin Fryman and Bill Asher of Hanley, in association with ParaSell Inc., represented the seller in the transaction. A private investor acquired the property. 

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ArkansasInvestment salesNews

Cohen & Steers Acquires 403,000-Square-Foot Shopping Center Complex in Fayetteville, Arkansas 

by Hayden Spiess

Fayetteville, Ark.  — An affiliate of Cohen & Steers has acquired a two-property, open-air shopping center complex located in Fayetteville, located in the northwest portion of Arkansas near the Oklahoma and Missouri borders.  Totaling 403,000 square feet, the complex comprises the retail centers Spring Creek Centre and Steele Crossing. Tenants at the properties include T.J. Maxx, Ulta Beauty, Best Buy, Old Navy, PetSmart and Kohl’s. The centers also feature corporately owned Walmart, The Home Depot and Target stores. At the time of sale, the centers were 95 percent occupied.  DLC Management …

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Slim Chickens Signs 12-Unit Franchise Deal in Pennsylvania

by Hayden Spiess

Fayetteville, Ark. — Arkansas-based fast-casual brand Slim Chickens has signed a franchise deal for 12 units in the state of Pennsylvania. Plans include the addition of restaurants in the counties of Lancaster, Lebanon, Dauphin, York, Cumberland, Centre, Franklin, Mifflin, Juniata, Perry and Adams. PSMMSM PA Ventures, also a Dunkin’ Donuts franchisee, will own and operate the new units. 

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ArkansasCompany newsNews

Walmart to Shutter All 51 Walmart Health Centers, Virtual Care Service

by Katie Sloan

Bentonville, Ark. — Walmart has decided to shutter all 51 Walmart Health locations, as well as the Walmart Health Virtual Care service. The Bentonville-based retail giant stated that the business model, which was formally launched in 2019, was not sustainable. The company cited a lack of profitability due to “the challenging reimbursement environment and escalating operating costs.” Walmart Health locations are situated in six different states — Arkansas, Florida, Georgia, Illinois, Missouri and Texas — according to the Walmart Health online directory. The company didn’t offer a timeline for when …

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Slim Chickens Signs Three-Restaurant Franchise Deal in Texas

by Hayden Spiess

Fayetteville, Ark. — Fast-casual brand Slim Chickens has signed a franchise deal for three new restaurants in Texas. Joel Garza of TX-SC Ventures LLC will own and operate the units, which will be located in Brazos and Polk County. Garza previously signed a multi-unit franchise deal with the Fayetteville, Arkansas-based brand in 2020, opening stores in the greater Houston area. The locations of the new restaurants will include College Station and Livingston. Slim Chickens’ current portfolio includes more than 255 stores throughout the U.S., with more than 1,200 in development. 

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ArkansasCompany newsDevelopmentMarylandNewsRestaurants

Slim Chickens Signs Franchise Deal for Seven Restaurants in Maryland

by Hayden Spiess

Fayetteville, Ark. — Arkansas-based Slim Chickens has signed a franchise deal for seven new restaurants in the state of Maryland. Franchisee DDR Holdings, a venture between Darrin and Dennis Atlas, will open the units. DDR Holdings currently owns and operates two Slim Chickens stores in the state. The Slim Chickens brand has opened in more than 255 locations across the U.S. and the U.K., with more than 1,200 stores currently in development. 

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ArkansasCompany newsDevelopmentNews

Walmart Plans to Add 150 New Stores, Remodel 650 Existing Locations

by Hayden Spiess

Bentonville, Ark. — Walmart (NYSE: WMT) has announced plans to expand by more than 150 new stores over the next five years, both through new construction and converting existing buildings.  The first two stores under this initiative — both under the company’s smaller-format Walmart Neighborhood Market banner — are scheduled to open this spring in Santa Rosa, Florida, and Atlanta. The company is currently finalizing plans for 12 new projects, one of which will be the conversion of a smaller existing location into a large-format Walmart Supercenter, which serves as both …

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Avison Young Acquires Madison Marquette Retail Platform, 6.1 Million-Square-Foot Portfolio

by Hayden Spiess

Toronto, Canada and Washington, D.C. — Avison Young has entered into an agreement to acquire Madison Marquette’s retail platform for an undisclosed price. The acquisition will include the Washington, D.C.-based firm’s retail property management, marketing and leasing services throughout the U.S.; and a portfolio comprising more than 6.1 million square feet of properties managed and leased by Madison Marquette. Madison Marquette teams will integrate with those of Toronto, Canada-based Avison Young in Los Angeles, New Jersey, Philadelphia, Indiana, Arkansas, Maryland, Virginia, Atlanta and Florida, and the acquisition expands Avison Young’s presence …

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ArkansasDevelopmentFinanceGrocery-anchoredNews

CBRE Secures Construction Financing for Mixed-Use Development in Rogers, Arkansas

by Hayden Spiess

Rogers, Ark. — CBRE has secured financing for the construction of Pinnacle Springs, a mixed-use development located in Rogers. Upon completion, the project will comprise 362 apartments and 91,000 square feet of retail space. A 37,000-square-foot Whole Foods Market will anchor the property. Richard Henry, Mike Ryan, Brian Linnihan and J.P. Cordeiro of CBRE arranged the financing on behalf of the borrower and developer, SJC Ventures. Arvest Bank provided uncrossed construction loans for the project, and Dome Equities provided both common and preferred equity investments in the multifamily component. The project …

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Arizona State University, Catellus Underway on 275,000-Square-Foot Retail Portion of Novus Innovation Corridor in Tempe, Arizona

by Hayden Spiess

Tempe, Ariz. — Arizona State University (ASU) and Catellus Development Corp. are underway on Novus Place, the 275,000-square-foot retail and entertainment portion of the 4.5 million-square-foot mixed-use Novus Innovation Corridor in Tempe. Located adjacent to ASU’s Tempe campus, the multi-phase project is being developed through a public-private partnership between the university and development firm. Vestar will manage the retail portion of the development. Fox Restaurant Concepts (FRC) recently signed a lease to bring three food-and-beverage concepts — Flower Child, Blanco Taco Cocina + Cantina and North Italia — to the property, …

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