Cushman & Wakefield|Sage Partners and PotlatchDeltic gathered at Chenal Country Club on Thursday (Oct. 24) to recognize the 30-year growth of the west Little Rock planned community.
The area was originally developed by Deltic Timber, which merged with timber and land management giant Potlatch Corp. last year to form PotlatchDeltic. Earlier this year, Cushman & Wakefield|Sage Partners joined as property developers for Chenal Properties and its 370 acres of commercial real estate.
“To look back at the transformation that has occurred in this part of our city over the last three decades is pretty incredible, and Deltic, and now PotlatchDeltic, have certainly been a driving force behind that growth,” said Rick O’Brien, Market Director for Sage Partners.
“Chenal Valley has become synonymous with high-quality, top-of-the-line development, and we are proud to work with PotlatchDeltic to build on that tradition,” O’Brien added.
Deltic Timber began the development of Chenal Valley in 1989 and since that time has developed and sold 450 acres of commercial property and over 3,000 residential lots. The development has driven growth in that area and throughout central Arkansas.
In addition to developing more office space, commercial developer Aaron Nicholson, Vice-president and principal with Sage Partners, said he sees a lot of food, retail and entertainment options in the near-future.
“We think there’s a real opportunity for retail out here. There are a bunch of fast food restaurants and/or sit-down restaurants that have wanted to come to Little Rock, specifically west Little Rock. It’s really been kind of land-locked out here,” Nicholson said. “We’re going to have several lots coming up on Chenal Parkway that are going to be more restaurant sites and quality family entertainment sites.”
“We have worked to harness the future growth potential in this area, ensuring available real estate is put to its highest and best use, for both commercial and residential opportunities,” said Bill DeReu, Vice President of Real Estate for PotlatchDeltic. “We are excited to partner with Cushman & Wakefield|Sage Partners and the wonderful people of Little Rock, as we continue our investment in the prime real estate we own in Chenal.”
DeReu announced at Thursday night’s reception that Chenal Country Club is going to be managed by Arnold Palmer golf management group.
Lt. Gov. Tim Griffin and Little Rock Mayor Frank Scott, Jr. spoke at the event with both hailing Chenal as the type of development that improves the quality of life for central Arkansas residents.
PotlatchDeltic is a publicly-traded Real Estate Investment Trust (REIT) that owns nearly 1.9 million acres of timber land in Alabama, Arkansas, Idaho, Louisiana, Minnesota and Mississippi.