Cushman & Wakefield Sage Partners of Rogers and Lighthouse Asset Advisors of Little Rock announced the $44.6 million sale of a Bentonville office park.
The Beau Terre Office Park, with 378,493 SF of office space on 77 acres, was sold to a group of investors led by George Dunklin, the companies said in a news release. He’s the owner of Five Oaks Duck Lodge, a former chair of the Arkansas Game & Fish Commission and a former president of Ducks Unlimited.
Ted Dickey of Lighthouse Asset Advisors and Marshall Saviers, Aaron Nicholson, Johnny Galloway and Ethan Fowler of Cushman & Wakefield Sage Partners represented Dunklin in the transaction.
The seller of the development at 1005 Beau Terre Dr. was BH Property Ventures, led by Patrick Byrd and Alex Baumeister. The two will remain investors with the new group, according to the release.
Focus Commercial Real Estate, led by Butch Gurganus, represented the seller and will continue to lease and manage the property.
“The value proposition is simple,” Dickey said in a statement. “Construction costs are up, office vacancy is down, and Beau Terre is incredibly well-located. We are five minutes to the new Walmart home office, nine minutes to the Pinnacle Hills/Rogers area, and directly connected to the bike trails to the north.”
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