Fayetteville Chamber Closes $2.4M Deal For New Office Space on Town Square

The Fayetteville Chamber of Commerce, through its 21 Mountain LLC, recently closed on a $2.4-million purchase of the Bradbury Building on the downtown square at 21 W. Mountain St.

The deal paves the way for the chamber’s move to the second floor of the building, and the opening of the Arkansas Regional Innovation Hub, a support agency for entrepreneurs, on the building’s first floor. The building has a total floor area of 24,600 SF. Washington County had the property valued at $1.73 million.

The purchase was financed with a mortgage from Centennial Bank. The scheduled maturity on the loan is Nov. 10, 2018. According to a report by the Fayetteville Flyer published in July, current tenants Tiny Tim’s Pizza/West Mountain Brewing and Jammin’ Java will remain in the building.

The chamber wants to move into the Bradbury Building by Jan. 1, with the innovation hub coming in soon thereafter.

Steve Clark, president and CEO of the chamber, could not be reached for comment. The chamber’s current building at 123 W. Mountain St., which the chamber owns, is listed with Lindsey & Associates agent Jeff Pederson for $998,000. Pederson said there have already been two offers on the building, but neither have panned out. However, interest in the 6,000-SF building remains strong.

“We’re optimistic,” Pederson said.