Nine commercial properties in North Little Rock and Sherwood recently sold for $22 million, according to a Wednesday (Sept. 3) news release.
The release shows an “Arkansas-based investor” bought the following mix of properties:
Retail property Apple Valley at 8000 Highway 107 in Sherwood
Retail property Somers Plaza at 5107 Warden Road in North Little Rock
Retail property Lakewood at 2513 McCain Boulevard in North Little Rock
Retail property Vali-Hi at 4540 JFK Boulevard in North Little Rock
Office property 2400 Crestwood in North Little Rock
Storage property NE Mini Storage at 5301 Warden Road in North Little Rock
Industrial/office property NE Business Park at 5301 Warden Road in North Little Rock
Townhouse property Villa Townhouses at 4700 Randolph Road in North Little Rock
Industrial/office property Crossroads at 1305 N. Hills Boulevard in North Little Rock
The seller was The Woodcrest Co., the parent company that represents the longstanding holdings of Justin Matthews Sr., “a prominent real estate developer in the early 20th century whose work shaped much of North Little Rock’s early growth,” according to the release.
Cushman & Wakefield / Sage Partners, a real estate firm with offices in Rogers and Little Rock, brokered the deal, led by Ryan Gibson, managing director for central Arkansas, CEO Marshall Saviers and Matt Imhoff.
“This portfolio represents decades of investment in and commitment to the North Little Rock community,” Saviers said. “It’s rare to see a portfolio of this size and diversity come to market, and we’re proud to help steward its next chapter.”
The transaction was carried out through a relationship between Cushman & Wakefield / Sage Partners and the seller. The company declined to disclose the buyer, which “has no plans for immediate redevelopment but intends to continue enhancing the properties as vital contributors to North Little Rock’s continued growth,” the release shows.
“The scale and asset mix of this deal, spanning retail, office, industrial, storage, and residential, showcases the dynamic nature of the North Little Rock commercial market,” Gibson said. “This sale reflects strong investor confidence in the area and reinforces the positive momentum underway in North Little Rock.”