Mid-America Real Estate Executes Sale of Dominant Regional Shopping Center in the Heart of Arkansas River Valley Region
August 23, 2022
Mid-America Real Estate Corporation’s Investment Sales Group recently brokered the sale of Valley Park Centre, a 95% leased dominant regional shopping center located in the heart of the Arkansas River Valley Region in Russellville, Arkansas. The 282,608-square-foot property was sold to Dallas-based The Woodmont Companies.
Valley Park Centre features the area’s best combination of top category leading retailers, anchored by soft goods and apparel tenants in TJ Maxx, Ross Dress For Less, Belk, JC Penney, Shoe Carnival, and Hibbett, together with dominant specialty users in Hobby Lobby, PetSmart, and Five Below. The surrounding area features a strong, growing population that’s younger than state and national averages stemming from its proximity to education and employment drivers, transportation routes, and outdoor recreation as well as excellent school systems.
Mid-America Real Estate Corporation Principal/Managing Broker Ben Wineman, in cooperation with Hank Kelley of Kelley Commercial Real Estate Partners (a licensed Arkansas real estate broker), were the exclusive brokers in the transaction on behalf of the seller, a joint venture between an affiliate of Atlanta, Georgia-based RCG Ventures, LLC and a New York, New York-based Joint Venture Partner.
About Mid-America Real Estate
Mid-America Real Estate is the largest regional retail property services firm in the Midwest. The organization’s exclusive focus on retail real estate, combined with cutting-edge technology and unsurpassed service, distinguishes Mid-America within the industry and provides clients with a competitive edge. The company manages and leases 42 million square feet of retail space, and represents over 270 retailers. Mid-America’s Investment Sales Group represents clients in the sale of retail properties throughout the greater Midwest region. The Investment Sales Group’s strategic approach combines outstanding national exposure with the best local knowledge, resulting in the successful disposition of over $12.15 billion to date. For more information, visit www.midamericagrp.com.
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