Siloam Springs site for Chili’s, McDonald’s, Olive Garden sells for nearly $3 million

by Jeff Della Rosa ([email protected]) 1,058 views 

A total of 4.62 acres of commercial land on U.S. Highway 412 in Siloam Springs recently changed hands in three transactions for a combined $2.96 million, according to a Wednesday (Jan. 22) news release. The purchase price equals $640,692 per acre.

The property, which is east of Lowe’s and Walmart, will be the site for three new restaurants: Chili’s, McDonald’s and Olive Garden. Groundbreaking for the three new restaurants is expected to take place in the first quarter of this year. A 0.77-acre portion of the property remains available for future development.

EJ Siloam Springs LLC purchased 1.85 acres of the property near the northeast corner of Simon Sager Avenue and Highway 412 on Dec. 20 for $925,000. Eric Boen and Jeff Kemp of Commercial Realty LLC in Fayetteville represented the buyer, who plans to develop the property as a 6,496-square-foot Olive Garden restaurant.

SCC Interests Inc. bought 1.77 acres of the property at 3861 E. Highway 412 on Nov. 25 for $1 million. SCC Development is a developer for Chili’s restaurants and plans to build a 5,161-square-foot restaurant.

McDonald’s USA LLC acquired 1 acre of the property at the northeast corner of Simon Sager Avenue and Highway 412 on Jan. 14 for $1.03 million. The site will become a 3,694-square-foot McDonald’s restaurant. Kendra Roberts of SHOP Companies represented the buyer.

The seller in all three transactions was Siloam Station Retail LLC, managed by Hurst, Texas-based commercial real estate developer Burk Collins & Co. Alan W. Cole and Mason Wood of commercial development firm Colliers Arkansas represented the seller in the transactions.

“The recent sale of these three restaurant locations in Siloam Springs represents an exciting transformation of the local dining landscape,” Cole said. “With Olive Garden, McDonald’s, and Chili’s set to open, we’re bringing nationally recognized concepts that will meet the community’s demand for variety and quality. This is a testament to the area’s continued economic development and strong market potential.”

In January 2024, Siloam Station paid $920,000 for a larger 18.88-acre property that includes the land that sold recently.

According to the most recent Arkansas Department of Transportation data, the Highway 412 segment near the land receives 29,000 vehicles per day.