A franchisee of DQ Grill & Chill has completed a land purchase to begin development of a location in Siloam Springs.
Sims Development Group LLC, led by Aimee and Terry Sims, paid $475,000 for a 0.62-acre lot at 102 U.S. Highway 412, at the southeast corner of Mount Olive Street.
Alan W. Cole of Colliers International in Rogers represented the buyer. The seller, SC Petroleum LLC, was represented by Patrick Kuhlman of RE/MAX Real Estate Results in Bentonville.
The property will be developed into a DQ Grill & Chill quick-serve restaurant franchised by American Dairy Queen Corp., a Berkshire Hathaway company headquartered in Bloomington, Minn. The new location is one of seven DQ Grill & Chills planned for northwest Arkansas including two in Fort Smith and one each in Rogers, Springdale, Tontitown and Van Buren.
“Colliers is pleased to continue to represent Sims Development and DQ Grill & Chill in their expansion across the northwest Arkansas market,” Cole said in a statement. “In addition to a fantastic product, each location will provide approximately 50-60 new jobs in the area.”
The company plans to open the Siloam Springs location later this year. Little Rock-based Bank OZK is financing the construction with a $1.81 million loan.