A property management and investment firm in Rogers is expanding its services, bringing together a trio of former Arkansas Razorback football teammates.
Pat Morrison and Chuck Dicus are heading up the new commercial real estate venture, Devereux Real Estate Investments. It’s an expansion of Devereaux Management Co., a commercial real estate property management and investment firm founded in 1986 by real estate investor Dewitt Smith.
Morrison and Dicus will focus on commercial real estate brokerage of land and income-producing properties in Northwest Arkansas, according to a news release.
Morrison spent the past seven years at Colliers International Arkansas in Rogers. Dicus spent the past three years working for Wilson Real Estate Auctioneers in Hot Springs. He recently moved to Fayetteville. They earned degrees from the UA in 1971 and later were inducted into the UA Sports Hall of Honor.
“Pat and I have wanted to team up and concentrate on the areas we have the most experience and interest,” Dicus said in a statement. “We approached our old friend Dewitt to see if we could do that with Devereux Real Estate Investments. He was immediately interested and saw an opportunity to expand Devereux’s services, which had been almost exclusively in property management and investments, into brokerage as well.
“As teammates and friends for 50 years, we certainly know what to expect from each other. We look forward to working in the dynamic Northwest Arkansas market and helping many of our friends and clients along the way.”
Dicus, whose legacy as a Razorback football player landed him in the College Football Hall of Fame in 1999, is a former president of two notable nonprofits in the state — the Razorback Foundation and the Arkansas Game & Fish Foundation. He also previously worked for commercial real estate firm Irwin Partners in Little Rock and for investment banking firm Stephens Inc.
Before working for Colliers International, Morrison was the owner and principal broker of Morrison Wanger Adams (MWA) Commercial Real Estate Services in Bentonville.
Before MWA, Morrison moved to Rogers from Little Rock as senior vice president and managing commercial broker for the area’s first exclusive commercial real estate division. His real estate career spans the past four decades.
Devereaux offices are at the Village on the Creeks, a 40-acre commercial development along Interstate 49 in Rogers. A large portion of Village on the Creeks changed hands earlier this year for $32.32 million. Devereaux Management has managed the property for the past decade and continues to do so following the transaction.