$10.4M buys tract at Gateway Center

All but 1 acre of the 168-acre Gateway Shopping Center that is suitable for construction is sold.

The retail hub at the junction of Interstates 430 and 30 in southwest Little Rock is home to Bass Pro Shops and the Outlets of Little Rock. On Friday, Gateway Creek LLC and Gateway Otter LLC, both led by Isaac Smith of Colliers International, bought about 54 acres from Town Center LLC for more than $10.4 million. Longtime developer Tommy Hodges heads up Town Center LLC and was responsible for recruiting Bass Pro Shops and the outlet mall to the property.

Hodges said Monday that he would retain the last acre, with the possibility of building an office over one the ponds on the property.

The 54-acre project, with the working title The Grove at Gateway Town Center, is expected to feature live-music venues, restaurants, hotels and other entertainment-type ventures, Smith said.

-- Cyd King

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