Seattle Firm Buys Pleasant Property

Seattle-based John Goodman and Goodman Real Estate Inc., along with local partners John Horne and Mitchell Massey, recently spent $8 million to buy 100 acres at the northeast corner of the Pleasant Grove Road and I-540 interchange from Diane Huffman. Goodman and Horne are listed as managers of the owning entity GRE Pleasant Grove LLC.

The property is just a stone’s throw away from 345-acre Pleasant Crossing, the project being developed by partners BOS Group LLC of Washington, D.C., Charles Reaves of Rogers, Greenhat Partners of Memphis and First Security Vanadis of Searcy. That project’s plans call for 1 million SF of retail space that includes more than one mile of I-540 frontage.

Art Edwards, managing director of Goodman Real Estate, said the firm is “very bullish” about the local market and Goodman hopes to have more transactions in Northwest Arkansas in 2005. Ramsey Ball of Lane Real Estate Services Inc. has been hired as a consultant to the group.

Founded in 1980, Goodman Real Estate is a privately-held real estate investment company with an estimated $4.3 billion portfolio that owns the better known Pinnacle Realty Co. Goodman has more than 25 branch offices, 3,000 employees and 90 properties nationally.