J.B. Hunt buys Lowell pastureland for $18 million
by February 15, 2025 12:20 pm 7,809 views
About 56 acres of pasture east of Interstate 49 and north of the headquarters of J.B. Hunt Transport Services Inc. in Lowell recently sold for $18.25 million. The purchase price equals $323,008 per acre.
J.B. Hunt bought 56.5 acres in separate lots spanning both sides of South Dixieland Street. According to city records, Lowell Planning Commission on Jan. 6 approved large-scale development plans for J.B. Hunt as part of a phased project to expand its corporate campus.
The seller was Joe A. Bishop of Lowell. Bronson Abstract Co. in Fayetteville was the title agent. The deed was filed in Benton County Circuit Court on Jan. 13.
J.B. Hunt posted mixed fourth-quarter financial results on Jan. 16. Earnings rose by 1.2% to $155.45 million in the fourth quarter from $153.53 million in the same period in 2023. Revenue fell 4.76% to $3.14 billion from $3.3 billion. For 2024, earnings fell 21.6% to $570.88 million from $728.28 million in 2023. Revenue declined 5.79% to $12.08 billion from $12.82 billion.
Shares of J.B. Hunt (NASDAQ: JBHT) were trading Friday (Feb. 14) at $170.20, up $4.74 or 2.86%. In the past 52 weeks, the stock has ranged between $153.12 and $218.65.