Recent sales activity indicates that interest in revitalizing downtown Springdale is growing.
Several out-of-use buildings on East Emma Avenue have sold or are under contract to prospective buyers.
Tyson Foods Inc., which owns property on and near Emma, including its former headquarters building, has agreed to buy the one-time home of Orscheln Farm & Home at 516 E. Emma Ave.
The seller is Joe Layman, senior vice president at Lindsey & Associates Inc. of Fayetteville.
Layman said the listing price for the 30,000-SF building was $500,000 but declined to say what Tyson agreed to pay. We’ll have to learn that after the official closing, scheduled for June 30.
The Springdale City Council also agreed Wednesday to sell the 15,280-SF Jeff Brown Building at 317 E. Emma Ave. to Tyson for about $37,000.
“We’re excited they’re going to have a presence downtown,” Springdale Mayor Doug Sprouse said of Tyson. “It’s more good news they’re interested in doing something [at Orscheln]. There is a definite interest not only by the Tyson corporation but by the Tyson family.”
Springdale Downtown LLC, funded by members of the Walton family, closed on a $1.22 million deal to buy the 29,616-SF San Jose Manor Building at 202 E. Emma Ave. from Robert and Max Ryan and Mid-America Management Associates LLC in mid-May.
Philip Taldo, listing agent for the property at Weichert Realtors-The Griffin Co. of Springdale, said an undisclosed buyer has the 6,348-SF Apollo Theater at 308 E. Emma Ave. under contract.