JV Plans 750,000-SF Lifestyle Center

ROGERS, AR-Macerich is about to have some competition in the Fayetteville-Rogers-Springdale MSA. General Growth Properties and the Pinnacle Group plan to develop a 750,000-sf lifestyle center here, 14 miles north of the 822,000-sf Northwest Arkansas Mall, which was originally developed by General Growth and is now owned by Macerich.

Ari Silverberg, senior director of development for General Growth Properties, tells GlobeSt.com that Macerich’s property is an enclosed mall while the new development, Pinnacle Hills Promenade, will be an open-air mall with a more upscale tenant mix.

“We are pleased to be returning to Northwest Arkansas,” says Silverberg. “Pinnacle Hills Promenade will raise the bar for shopping, dining and entertainment in this region and will appeal to the sophisticated Arkansas consumer.”