The Walmart Supercenter planned for Centerton in Benton County hasn’t broken ground yet, but investors are still banking on its drawing power.
Jordan Jeter, a principal with Flake & Kelley Commercial Northwest, bought two parcels of land across the street from the scheduled supercenter on Sept. 9. Tamarron Investment Group, through its Abbey Fund LLC, paid a little more than $1.2 million for 3.23 acres of land.
Jeter, Cash East and Matt Jeter run the Abbey Fund. Jeter said the group sold 37 lots in the Tamarron subdivision in an exchange for the two parcels.
Jeter said the preliminary plan is to build a 25,000-SF strip shopping center on the site, located north of Centerton Boulevard.
He has already talked with prospective tenants about the possibility of moving into the Centerton area.
“Everything is growing west,” said Jeter, referring to development west of Interstate 49.
Jeter said if it comes to fruition, the retail center will have from three to eight tenants. He said the investment group hopes to have finalized plans in three to six months so building can begin.
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