LR real estate group sells S.C. warehouse
Tempus Realty Partners, a Little Rock-based real estate investment partnership, recently sold the Gaffney Distribution Center, a 546,000-square-foot facility in Gaffney, S.C., Tempus said Monday.
The sale price was $30 million.
The Gaffney Distribution Center was built in 1996 and is 50 miles outside of Charlotte, N.C., on a 77-acre site.
The distribution center was purchased in March 2017 for $14 million by Tempus Gaffney LLC. Colliers Arkansas and other Colliers offices represented Tempus on the purchase and sale of the property.
The warehouse underwent an extensive renovation that included a refurbished interior area, warehouse lighting and a new roof.
"We're thrilled to have had the opportunity to partner with Colliers offices in Little Rock; Charlotte, N.C.; and Greenville, S.C., while owning this asset," said Dan Andrews, managing partner for Tempus Realty Partners.
-- David Smith
Walmart to expand use of newest tech
Walmart Inc. is expanding some of its latest technology to more stores across the U.S. this year, the company said Monday.
The Bentonville-based retailer said in a news release that it plans to add 900 pickup towers to Walmart Supercenters and Neighborhood Markets by year's end. The 16-foot-tall towers function much like a giant vending machines to dispense orders that customers place online.
Also, another 1,500 autonomous floor cleaners will be roaming stores. Walmart had about 460 of the robots in stores as of Jan. 31.. In addition, 300 robotic shelf-scanners will let employees know where products may be out of stock.
Walmart also is adding 1,200 of its FAST Unloaders to stores. The automated conveyor systems scan and sort items based on priority and department, reducing the time needed to move merchandise from trucks to store shelves.
The retailer has tested these technologies in select markets over the past year, the release stated. All are intended to let store employees spend more time helping customers, according to the release.
-- Serenah McKay
Index gives up 0.82, ends day at 425.86
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, dropped 0.82 to 425.86 Monday.
Shares of Murphy USA and Uniti Group each fell 1.9 percent.
"Stocks finished mixed on Monday, following a two-week rally as pressure was applied from shares of Boeing and concerns that U.S. companies will report a decline in earnings for the first time in three years," said Chris Harkins, managing director with Raymond James & Associates in Little Rock.
Total volume for the index was 13.9 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 04/09/2019