Little Rock’s Town & Country shopping center on South University Avenue sold for $3.77 million

A staple of Little Rock’s retail scene for more than 60 years sold this week for $3.77 million.

A limited liability company registered to Hua Mei Chen of Bryant acquired the 47,074-square-foot Town & Country shopping center at 3700 S. University Ave. The purchase price equals $80.19 per square foot. Chen was represented by Ted Arnett of Arnett Realty and Investments in Cabot.

Mason Lewis of Colliers International Arkansas represented the sellers, The Leah B. Trahin Revocable Trust and Walthour-Flake Co.

Town & Country was built in 1956 and is considered one of the city’s first modern shopping centers. Early tenants included Kroger, Franke’s Cafeteria and Bank of America, which has remained a tenant for 62 years.

The single-story center is directly across from the University of Arkansas at Little Rock and is situated on 4.2 acres. Current tenants besides Bank of America include Sam’s Oriental Store, Fun Wash, Rock City Smiles, Evans Vision Center and C. Alexander School of Cosmetology.

“Town & Country has been a staple of the Little Rock retail scene for more than 60 years,” Lewis said in a statement. “The center continues to be well-leased and it will make a great investment property for the new ownership group.”

Colliers International will continue to lease and manage the property.