Retail property at 1395 E. Henri De Tonti Blvd. in Springdale.
A 94,000-SF shopping center in Springdale sold for $2.8 million to a local developer.
Gary Nichols, through his Hillcrest Holdings LLC, bought the property at 1395 E. Henri De Tonti Blvd. The property was listed at $4.25 million and the seller was First Security Bank of Johnson.
Matthew Dearnley and Hunter Thomason of Flake & Kelley Commercial Northwest represented First Security Bank. Jordan Jeter, also of Flake & Kelley Commercial Northwest, represented Hillcrest Holdings.
Bear State Bank of Rogers provided a $1.1 million loan to assist the purchase. Jeter said the pro-perty is doing well with leasing but has about 13,000 SF available.
He said Hillcrest eventually wants to remodel and rebrand the property to make it look more like a traditional retail shopping center.
Jeter said a restaurant has already signed a letter of intent to move into a 3,000-SF space in the front of the center.
Sign up for Daily E-news
