Conway’s Cinemark Towne Centre sells for $7.41 million
by March 12, 2018 3:53 pm 579 views
A real estate investment trust based in Kansas City, Mo., has acquired Conway’s lone movie theater for $7.41 million.
EPR Properties is the new owner of Cinemark Towne Centre, located in the Conway Towne Centre shopping center at 201 Skyline Drive.
The seller was CapRocq Core real estate fund, represented in the sale by Justin Bentley, Isaac Smith and Kevin Huchingson of commercial real estate firm Colliers International in Little Rock.
Built in 2010, the 38,890-square-foot theater was acquired by CapRocq in February 2013.
“This transaction is a fantastic investment for EPR Properties,” Bentley said in a statement. “The cinema enjoys great visibility from Interstate 40 and Highway 65 and is surrounded by other great restaurants and retail. We expect it to continue to perform at the same level of success it has since its opening.”
Other tenants at Conway Towne Centre include JC Penney, Harbor Freight Tools, Julie’s Sweet Shoppe & Bakery, Hibbett’s Sporting Goods, Bath and Body Works and China Town restaurant. The facility is 97% leased and managed by Colliers International.
EPR Properties also owns Magic Springs Theme and Water Park in Hot Springs and the Cinemark Colonel Glenn 18 in Little Rock.