Colliers International Arkansas, the state’s largest commercial real estate and property management firm, is the new property manager for the Evelyn Hills Shopping Center at 1530 N. College Ave. in Fayetteville. Alan Cole and Steve Lane, principals of Colliers’ office in Rogers, will be the leasing agents.
The 131,000-square-foot retail center sold earlier this year for $7.2 million to a limited liability company controlled by Provident Realty Advisors of Dallas. Flake & Kelley Commercial Northwest in Fayetteville was the property’s previous leasing agent.
“Evelyn Hills benefits from its fantastic location on College Avenue connecting north Fayetteville to downtown, Dickson Street and the U of A campus,” Cole said in a statement. “With all of the great revitalization going on along this corridor, the timing is perfect for Evelyn Hills to be refreshed.”
Cole said the new owners have already spent a lot of “time, effort and money,” to upgrade the landscaping at Evelyn Hills. They are also working on new designs for façade and signage upgrades, as well as reconfiguring the parking lot to make it more pedestrian and bicycle friendly.
Cole added leasing efforts will be focused on recruiting “higher-end” local businesses to Evelyn Hills, as well as national retailers that will help accomplish a more “lifestyle-oriented” tenant structure.
“In particular, we see this center as perfect for boutiques, restaurants, clothing and grocery stores,” Cole said. “We can really see this turning into a hot spot for shopping.”
Built in 1959 by oil-and-gas contractor John D. Askew on what was then the outskirts of town, Evelyn Hills was home to Montgomery Ward for years until the store closed in 1999. Today, the center is anchored by Ozark Natural Foods (which owns its own building) and other tenants include Tacos 4 Life, Einstein Brothers Bagels and Uncle Sam’s Safari Outfitters. Cole said Evelyn Hills is about 94% occupied.