The other hubcap has dropped.
The Tex-Mex restaurant chain Chuy’s of Austin, Texas, is poised to move into uptown Fayetteville after purchasing the Colton’s Steak House location on Millsap Road. Chuy’s has three locations in Arkansas — including a popular site in the Promenade area of Rogers — and has been rumored to be looking at Fayetteville.
Now, it’s a $1.95 million done deal. The sale closed May 9 with Chuy’s subsidiary Chuy’s Opco Inc. buying the 7,274-SF restaurant.
The seller was Property Ventures LLC, led by Pat Boyd of Little Rock, an investor and partner in the Colton’s franchise.
Chuy’s was founded in 1982 in Austin and is known for its eclectic atmosphere — a prevalent use of hubcaps as decoration and numerous images of Elvis Presley — as much as for its food. Chuy’s has locations in Little Rock and North Little Rock.
Colton’s began in 1996 in Conway. It bought the Millsap location, just off the Fulbright Expressway, for $1.14 million in 2002.
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