A scaled-down grocer is among revisions in an updated site plan for the proposed Shops at University Village in Little Rock retail and restaurant development.
The multimillion-dollar project would sit on the former site of Little Rock’s Sears department store at the northwest corner of Interstate 630 off South University Avenue.
The 30-acre property in Little Rock's midtown, which also includes three medical buildings, sold for about $44 million, the Arkansas Democrat-Gazette reported in October.
Once presented as a 125,000-square-foot tenant, an unnamed grocery store is now considered to occupy nearly 30,000 square feet, according to a flyer from Dallas-based developer Shop Companies.
A 36,400-square-foot "junior anchor" is planned to its north along 6th Street, and a 17,500-square-foot retail tenant would sit south of the Doctors Building.
To its south and east, six pads, or outparcels, are proposed — four along I-630 and two just west of South University Avenue — that occupy a total area of more than 6 acres.
The Doctors Building and Midtown Medical Park building on the property will “remain as currently used of the foreseeable future,” according to a news release detailing the sale.
A building occupied by Arkansas Specialty Orthopaedics would be removed to make way for the grocery store and junior anchor, according to the site plan.
ARK Commercial & Investment Real Estate represented Little Rock Medical Associates in selling the property to Provident Realty Advisors Inc. of Dallas.