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Conway Towne Center Sells For More Than $12M

1 min read

Conway Towne Center LLC, a 274,596-SF retail center at 201 Skyline Drive in Conway, sold on Oct. 12 for more than $12 million.

Conway Realty LLC and Conway Nassim LLC bought the property from CapRocq Core.

CapRocq bought the Office Depot space in the center for $3.25 million in 2013. At that time, the firm already owned the rest of the center, which was purchased in 2009, in two deals totaling $9.5 million.

The property initially included the 38,890-SF Cinemark Towne Center movie theater, which was sold separately in March 2018 for $7.4 million.

Occupancy at Conway Towne Center was 84 percent when CapRocq bought. It was 96 percent occupied when the sale to Conway Realty and Conway Nassim closed.

Kevin Huchingson, Isaac Smith and Justin Bentley of Colliers International Arkansas, represented CapRocq Core in the transaction.

“This property is a great investment for Conway Towne Center’s new owners,” Bentley said in a news release. “It has a fantastic occupancy rate with many long-term tenants and great visibility from Hwy. 65 and I-40.”

Tenants at the center include JCPenney, Harbor Freight Tools, Julie’s Sweet Shoppe & Bakery, Hibbett’s Sporting Goods, Bath and Body Works and China Town restaurant.

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