Colliers closes on major industrial properties in North Little Rock, Nashville

A North Little Rock flex property featuring both office and warehouse space was sold on Thursday, July 25 for $1.3 million.

Located at 241 Newman Drive, the property totals 12,000 square feet with 6,000 square feet dedicated to office space with the remainder as warehouse, as well as a large fenced-in yard. It is located just off of Hwy. 67/167.

Justin Bentley of Colliers | Arkansas represented the seller, LBW Properties, LLC in the transaction. Wes Martin of Hathaway Group represented the buyer, JG Squared, LLC.

“With its close proximity and easy access to both Highway 67/167 and I-40, this property was an attractive acquisition for its new owners,” Bentley said. “Our firm was happy to have had the chance to work on behalf of the seller in this transaction.”

The new owners plan to use the building to expand the operation of School and Office Products, Inc.

The family-owned-and-operated business specializes in full-service consulting, supply, and installation or commercial and contract furniture.

In Nashville, Arkansas, three industrial properties consisting of 780,000 total square feet sold on Wednesday, July 24 for $14.5 million.

The properties housed manufacturing and warehouse facilities for Husqvarna, which announced in July 2023 that it would close its plant and layoff around 1,000 workers.

Clark Irwin and Jim Irwin of Colliers | Arkansas partnered with Savills to represent the seller, Husqvarna Consumer Outdoor Products N.A., Inc. The buyer, Phoenix AR Industrial/LLC, represented itself.

The transaction consisted of a 274,328-square-foot climate-controlled manufacturing facility at 1 Poulan Drive, a 350,000-square-foot Class “A” distribution center built in 2018 at 630 Hwy. 27 Bypass, and a 132,320-square-foot building at 139 Old Airport Road.

The buyers have not revealed their plans for the facilities.