Hunt Ventures land deal nixes planned Pinnacle area hotel

A planned 16-story hotel to be built in Rogers on the site that was once a Ruth’s Chris Steak House will not be built after Hunt Ventures bought the land to prevent the hotel from being built.

Terms of the deal for the land at 3529 Pinnacle Hills Parkway between Hunt Ventures and Beaty Capital Group – BCG Land Company – were not disclosed. Lance Beaty, president of Beaty Capital Group, declined to comment on the deal beyond a statement provided Monday (Dec. 30).

“It was an amicable transaction. Some had reservations about the density that we were proposing on that site,” Beaty noted in the statement. “From the Hunt perspective, and given the direct proximity of that site to their other properties, we understood their interest in controlling what will be built there. Like their other projects, I am sure whatever they decide to build there will be first class.”

Beaty announced the 207-room hotel project in March 2024 on the 1.57-acre property. An entertainment venue was a planned 2,200-seat facility. However, Beaty announced in August that the planned 2,200-seat entertainment venue within the hotel property would not be developed primarily because of parking issues in the area. Without the entertainment venue, the estimated cost of the hotel dropped from around $150 million to around $100 million.

Construction was set to begin in the early second quarter of 2025, with the work expected to take at least 16 months to complete.

Clinton Bennett of Bennett Commercial Real Estate and Kutak Rock represented BCG Land Company on the seller side. Tom Allen of Cushman & Wakefield – Sage Partners represented Hunt Ventures on the buyer side.

Through a spokesperson, Allen said Hunt Ventures has no definitive plans for the property but is focused on the “highest and best use” for the property.