Commercial acreage along Interstate 49 in Rogers, long viewed as a potential development site, will soon be back on the market for $35 million. The list price equals $5.74 per square foot.
Nicholas Kern and Jason Moles, commercial agents for Weichert, Realtors-The Griffin Co., are the listing agents marketing the 140-acre pastureland site, which was previously listed about five years ago. It’s situated at the southwest corner of the I-49/West Pleasant Grove Road intersection. The Donald G. Mills Revocable Trust is the landowner. Last year, the Mills Trust, led by brothers Joe, Mike and Doug Mills, sold 48 acres nearby to the University of Arkansas for Medical Sciences.
Kern said the land’s current zoning is for commercial (85 acres), multifamily (25 acres) and R1/single-family residential (30 acres) use. He referenced a development vision like what’s taken place in the city’s Pinnacle Hills area, one exit to the north.
Kern said the site’s location is attractive. It’s situated in the middle of the region’s “Big Three” Fortune 500 companies in Bentonville (Walmart Inc.), Lowell (J.B. Hunt Transport Services Inc.) and Springdale (Tyson Foods). He also noted the upcoming construction of the University of Arkansas for Medical Sciences’ 185,000-square-foot orthopedic and sports medicine facility near I-49 in Springdale.
“This is the last blank canvas along the I-49 corridor connecting these economic drivers,” Kern said.