Promenade at Chenal Parcel Purchased by Indiana Developer

by Arkansas Business Staff  on Monday, Jul. 21, 2014 12:00 am  

A piece of the Promenade at Chenal recently purchased by an affiliate of Thompson Thrift of Indianapolis.

Perhaps you heard about a new outparcel development at The Promenade at Chenal in west Little Rock. Here are some more details.

An affiliate of Thompson Thrift Development Inc. of Terre Haute, Indiana, purchased the 1.45-acre site for $1 million.

The seller was Little Rock Development Co. LLC, which owns four other undeveloped parcels along with the Promenade’s 216,368-SF lifestyle center and 32,992-SF Dickinson Theatre.

You might recall that two New York firms, O’Connor Capital Partners and Wafra Investment Advisory Group Inc., own 90 percent of the Promen-ade through O’Connor/Wafra Retail Partners.

Thompson Thrift is constructing a 9,000-SF retail building that will house an AT&T store, a GNC outlet and Boneheads Grill, all set to open by November.

The project, which has room for another tenant or two, is Thompson’s first retail development in Arkansas.

The company is the contractor on The Cardinal at West Center at 831 W. Center St. in Fayetteville, just south of the University of Arkansas campus. The 471-bed private-sector student housing is opening next month.



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