The Arkansas Colleges of Health Education made a big splash in September when it announced it had purchased the former corporate office building of Golden Living in Fort Smith.
How big a splash got a little clearer. The price for the 318,000-SF building, which the osteopathic school didn’t release at the time, was $5.8 million.
The building and 36 acres were originally listed in 2018 at a smidge less than $16 million. ACHE bought all that and more, including a 18.3-acre tract north of the Golden Living parcel — Fianna Way runs laterally through the two parcels.
ACHE is listed as the owner of the north parcel, but no separate transaction is listed on the Sebastian County assessor’s website. An official at ACHE confirmed to Whispers that the $5.8 million price tag covered both parcels.
The medical school plans to renovate the five-story building to house the ACHE Research Institute & Wellness Center, which will focus on holistic health research. ACHE expects to use approximately one-third of the building’s space for itself and continue to lease the remaining space.
Newmark Moses Tucker Partners will handle the management of the building and leasing arrangements.