Steele Crossing Land Sale Official
by May 23, 2012 10:22 am 115 views
Irwin Partners announced Wednesday a deal first reported by the Northwest Arkansas Business Journal in March.
The $2.4 million deal — the sale of about 14 acres in Fayetteville’s Steele Crossing mixed-use development — will result in a new, 71,000-SF Academy Sports + Outdoors store. The store will be located just south of the Malco Razorback Cinema on Steele Boulevard, behind the Walmart Supercenter on Mall Avenue.
Jim Irwin, who represented the sellers — NANCHAR, Inc. and MSB Properties Inc. — said he’s confident the deal “will stimulate more development activity in north Fayetteville.”
Charlotte E. Smith Steele is the registered agent for NANCHAR, according to the Arkansas Secretary of State website, while Marjorie Brooks is the registered agent for MSB Properties.
Chuck Dicus, also of Irwin Partners, represented the buyer, Vista ASO Fayetteville LTD. The Vista Companies, based in Houston, is a collaboration of three entities — Vista Equities Group, Vista Management Company, and Vista Brokerage Services.
Brent Mann is executive vice president of VEG, which will rent the building to Academy. The projected opening of the store is fall 2012, according to an Irwin Partners press release.
Academy has 135 stores in Texas and 10 other states, including a location in Rogers that opened in 2010. Other retailers in the Steele Crossing development include Target and Kohl’s, and it’s also home to numerous restaurants.