We’re told a deal is in the works that could bring new life to a 2010 casualty of the bursting real estate bubble in northwest Arkansas.
The Ashley Group of North Little Rock, one of the largest commercial property managers in the state, is looking to buy a mostly undeveloped 30.5-acre piece of the Pleasant Crossing development in Rogers.
The commercial property is divided into four pieces and home to a large parking area awaiting a planned but never built power center.
The property, part of the OREO portfolio held by Arvest Bank of Fayetteville, was recovered from developer Charles Reaves in September 2010 and is just east of the Walmart Supercenter on Pleasant Crossing Boulevard.
At one time, the property carried a sticker price of $4.9 million.
You might remember that Rick Ashley is president and owner of The Ashley Co. and also is a leading shareholder and director at Home BancShares Inc. of Conway.
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