IberiaBank Sheds Springdale Business Center for $1.78M

by Arkansas Business Staff  on Monday, Aug. 25, 2014 12:00 am  

This screenshot from Weichert.com shows an asking price of $1,975,320 for the Springdale Business Center.

The Springdale Business Center has a new owner after a $1.78 million sale.

An OREO property of IberiaBank since 2011, the center was purchased by Hillcrest Holdings LLC of Fayetteville, led by Robert Morgan and Gary Nichols.

The sale of the 2.48-acre development at 3291 S. Thompson St. was brokered through Flake & Kelley Commercial.

The project is just north of where the newly completed Don Tyson Parkway intersects with Thompson, also known as U.S. Highway 71B. The parkway’s completion is credited with helping spur the sale.

The center had six leases signed in the past year as the parkway neared completion, and that helped the push occupancy from 40 percent to nearly 80 percent.

 

 

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