Timber Purchases 70,000-Square-Foot Retail Center in Southern Arkansas

Monticello, Ark. — Timber Development Corp. has purchased North Park Village Shopping Center, a 70,000-square-foot retail center located in Monticello. Todd Rice of Colliers brokered the $4.6 million transaction. The property, which is shadow anchored by Walmart Supercenter, was 75 percent leased at the time of sale.