A 1.67-acre tract at the northeast corner of Chenal Parkway and Cantrell Road in Little Rock sold recently for $725,000. The corner will be home to a new retail development with suites ranging from 2,000-10,000 square feet and will have drive-thru capabilities.
An architect's renderings show three separate storefronts in one building.
The property for the center sold Sept. 28 from Walgreen Co. to Highway Chenal LLC, Guard LLC and Kevin and Dianna Hutchingson. Isaac Smith of the Little Rock office of Colliers International represented the buyer.
-- Cyd King
Colorado company buys 4 LR complexes
The Multifamily Group LLC handled the recent sale of four apartment complexes in northwest Little Rock totaling $49.6 million. Resource Real Estate of Philadelphia was the seller; Monarch Investments of Franktown, Colo., was the buyer.
Multifamily partner Ted Bailey said the portfolio included the Fairfield apartments, 337 units; The Berkley, 252 units; Pleasant Pointe, 239 units; and Valley Crossing, 211 units. The sale brings to 1,412 the number of apartments Monarch now owns in Little Rock, he said.
Multifamily also sold the apartments to Resource Real Estate 10 years ago.
-- Cyd King
Arkansas Index rises 4.58; 16 stocks gain
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, gained 4.58 to 334.93 Thursday.
The index is up 7 percent since Oct. 1.
"U.S. stocks pushed higher on Thursday following the release of [Federal Open Market Committee] minutes from the most recent policy meeting which showed worries about overseas markets led to caution at the rate meeting," said John Blackwell, senior vice president and managing director of equity trading at Stephens Inc. in Little Rock.
"The Arkansas Index moved higher as 16 stocks advanced and two declined," Blackwell said.
Shares of USA Truck Inc. rose 5.8 percent on average volume.
Murphy Oil Corp. was up 3.5 percent in active trading.
Dillard's Inc. rose 2.5 percent in below average volume.
J.B. Hunt Transport Services Inc. rose 1.3 percent.
Acxiom shares rose 1.5 percent, HomeBancShares rose 0.7 percent and Tyson Foods, Inc. rose 3 percent. All three stocks hit 52-week highs.
The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.
Business on 10/09/2015