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Retail Expands in Arkansas

Rogers-Lowell, AR-Wal-Mart Stores Inc. may have been the first large retailer in NW Arkansas, but it's definitely not the only one now.

By Jennifer D. Duell | Updated on March 21, 2005

Rogers-Lowell, AR– As recently as five years ago, most retailers and retail developers didn’t know where Rogers, AR, was, and certainly weren’t frantic to develop or open stores in Northwest Arkansas. But, as the cliché goes: that was then, and this is now.

Currently, there is about 10 million sf of retailspace under development in theRogers-Lowell-Bentonville area, according toRogers-Lowell Chamber of Commerce. The is home todiscount giant Wal-Mart Stores Inc. “Rogers isterribly under-retailed,” says Lance Beaty, a generalpartner with Fort Smith, AR-based Nelson and Beaty Co.LLLP. “There’s a lot of discretionary income here and absolutely no place to spend it.”

Nelson and Beaty Co. is working with Seattle-basedGoodman Real Estate and Chicago-based Urban RetailProperties Co. to develop the $300 million CentrePointe at Pleasant Grove. The main-street project’sfirst phase will include 350,000 sf of retail, 70,000sf of commercial space, a hotel and more than 180residential condominiums. The developers expect tostart construction this summer.

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