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A group of Little Rock investors spent nearly $6 million on a 27-acre parcel in Rogers with plans to create a mixed-use commercial development.

Alex Blass of Sage Partners is the lead developer. Blass and Little Rock-based VCC Construction plan to develop the acreage into an "urban mixed-use space," a blend of commercial, entertainment and residential real estate, a Tuesday news release said.

The land is on South Pinnacle Hills Parkway just south of the Country Club Plaza and a Walmart Neighborhood Market.

Sage Partners merged in 2016 with Hunt Ventures led by philanthropist Johnelle Hunt. Her firm developed the Pinnacle Hills Promenade, among other real estate projects in the area.

The grantor, Bill Adams, signed the deed totaling $5,882,590 on July 27, according to the Benton County assessor's office. Grantees include Pinnacle Village Holdings (60.77 percent), Capital Properties (33.71 percent) and Burlingame Investments Limited Partnership (5.52 percent).

Sage Partners (Pinnacle Village Holdings) will manage the commercial properties in the project, the release said. The project team plans to "begin site work and design immediately."

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