Fort Smith mall sold in $43.3 million deal
Inland Real Estate Corp., a publicly traded real estate investment trust, has purchased the Fort Smith Pavilion mall for $43.3 million.
The Fort Smith Pavilion, at Phoenix Avenue and Interstate 540, is classified as a “power center,” meaning it contains at least three anchor retailers and a few smaller tenants.
The stores include Bed, Bath and Beyond, Best Buy and Dick’s Sporting Goods, according to a release.
The mall was acquired through a joint venture with PGGM, a Dutch financial firm. The deal includes assumption of a $32.2 million loan at closing.
- John Magsam
Yield-breakers to be at soybean gathering
Arkansas, Louisiana and Mississippi soybean farmers will get a chance to learn tips and tricks from growers who saw record breaking yields in 2013 at the 2014 Tri State Soybean Forum on Jan. 3 in Dumas.
Scheduled speakers include entomologists, plant pathologists, weed specialists and geneticists, as well as a panel discussion moderated by Lanny Ashlock, Arkansas Soybean Promotion Board project manager and Mid-South Soybean Board research coordinator. The panel will feature three of the Arkansas Race for 100 soybean yield winners: Nelson Crow of Dumas, Matt Miles of Mc-Gehee and Eddie Tackett of Atkins.
The free conference will be at the Dumas Community Center, 18 Belmont St. Registration opens at 7:30 a.m.
Arkansas-based growers can contact Gus Wilson, chairman of the Chicot County Cooperative Extension Service staff, at (870) 265-8055, or Wes Kirkpatrick, chairman of the Desha County Cooperative Extension Service staff, at (870) 222-3972 for more information.
- Glen Chase
State index up 0.36 after reaching high
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, rose 0.36 to 337.40 Tuesday.
The index hit an all time high of 338.06 during the day.
“Stocks closed marginally higher as investors digested a mixed bag of economic data in an abbreviated session of pre-holiday trading,” said Bob Williams, senior vice president and managing director of Delta Trust Investments Inc. in Little Rock.
Financial issues stood out with First Federal gaining more than 1.7 percent on low volume, Williams said. Simmons, Home BancShares and Bank of the Ozarks all set 52-week highs, Williams said.
The index was developed by Bloomberg News and the Arkansas Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.
Business, Pages 27 on 12/25/2013