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News in brief

August 5, 2016 at 1:54 a.m. | Updated August 5, 2016 at 1:55 a.m.

MFA Oil buys assets in two-state region

MFA Oil Co. has purchased assets from Fuels & Supplies and Jim Woods Marketing Inc. in Northwest Arkansas, along with propane operations in Oklahoma, for an undisclosed amount, the cooperative said Thursday.

"This is a great opportunity to expand our distribution network and increase efficiencies in Arkansas and Oklahoma," Don Smith, MFA Oil director of mergers and acquisitions, said in a statement.

"Fuels & Supplies and Jim Woods Marketing have an outstanding reputation in this region and we are eager to build upon their success," he said. "We plan to run their business with little noticeable change, and with the same commitment to service, quality and small town values."

-- Jessica Seaman

Jonesboro property sells for $3.1 million

Red Wolf LLC of Jonesboro paid $3.1 million for a 9,000-square-foot shopping center at 2316 Red Wolf Blvd. in Jonesboro.

Moses Tucker Real Estate of Little Rock will serve as the leasing and managing agent for the retail building in Jonesboro. Current tenants are Westrock Orthodontics and Sleep Number bedding.

Preston King of Moses Tucker served as the agent for Red Wolf LLC. King recently joined Moses Tucker to handle real estate transactions in Jonesboro.

Troy Langford of Haag Brown Commercial Real Estate and Development in Jonesboro represented Homeboy Investments LLC.

"This opens up Jonesboro for Moses Tucker," Moses Tucker President Chris Moses said. "Preston is going to really be working that market looking for opportunities and really driving our efforts in the northeast Arkansas area."

-- Chris Bahn

State index shows slight uptick of 0.02

The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, rose 0.02 to 333.81 Thursday.

The Arkansas Index moved slightly higher as nine stocks advanced and nine stocks declined.

Shares of Murphy USA advanced 3 percent after the company announced a quarterly profit increase Wednesday. USA Truck fell 19 percent after reporting a $1.3 million loss Wednesday.

Total volume for the index was 20.6 million shares.

The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.

Business on 08/05/2016

Print Headline: News in brief

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