An 8,500-square foot commercial building in Little Rock occupied by BJ’s Brewhouse sold recently for $4.2 million. The purchase price equals $494.11 per square foot.
Four Corners Property Trust (FCPT), a publicly traded company based in California, is the new owner. The building is at 2624 Shackleford Road at the Shackleford Crossings shopping center. It has been ground-leased by BJ’s, a California-based restaurant chain, since 2014. The ground lease is in place through 2034.
Shackleford Crossings Investors LLC was the seller. Todd Rice with Colliers International in Little Rock facilitated the deal.
“This purchase represents an opportunistic acquisition in the central Arkansas commercial market for FCPT,” Rice said in a statement. “Colliers was pleased to have been able to represent the owners in this investment transaction.”