PotlatchDeltic Corp. of Spokane, Washington, has selected Cushman Wakefield-Sage Partners of Little Rock as its broker for the sale and development of commercial property located in west Little Rock's Chenal Valley.
More than 370 acres will be available over time for sale and development, the companies said.
Chenal Valley is a master-planned community originally created by Deltic Timber Corp. of El Dorado. PotlatchDeltic took over the project as part of its merger last year with Deltic.
PotlatchDeltic and its subsidiary, Chenal Properties, will continue to directly develop and market the residential acreage in Chenal Valley.
"After a competitive process to determine our next partner, we believe the team at Sage Partners will provide the energy needed to build upon the success of the Chenal area," Dave Meghreblian, vice president of real estate development for PotlatchDeltic, said in a news release. "We made this decision to enhance the positive momentum of high-quality commercial projects seeking to be located in Chenal Valley."
"We are honored to have the opportunity to market this area on behalf of PotlatchDeltic," Rick O'Brien, market director of Sage Partners, said. "The Chenal area is well positioned to lead economic growth in central Arkansas and we look forward to helping businesses achieve their goals."
O'Brien touted the firm's work on Johnelle Hunt's Pinnacle Hills development in Rogers, adding that his firm now has "direct participation in the two most prestigious and active commercial developments in the state."
The team that will work on the project includes Aaron Nicholson, Ryan Gibson, Jason Parker and Rick O'Brien, plus several brokers in Rogers. In addition, Rebecca Cate, a long-time Chenal Properties broker, will join Sage Partners as a broker.