Cushman & Wakefield | Sage Partners brokered the sale of the Riverdale Shopping Center in Little Rock, Arkansas, on May 20, for just over $16 million. The 212,000 sq. ft. retail center, located at 2500 Cantrell Road is set for redevelopment of the outparcels for new tenants that will be leased and managed by Cushman & Wakefield | Sage Partners. The Seller was represented by Kelley Commercial Partners.
“This center is a cornerstone retail hub in the market. Sage Partners is excited to be a part of its redevelopment and we’re looking forward to transforming it into one of the premier centers in Little Rock,” said Jason Parker, SIOR, Vice President at Cushman & Wakefield | Sage Partners.
The Buyer, Xcited Riverdale LLC, is a group of Arkansas partners formed by T.J. Lefler with Lefler Capital of Fayetteville, AR. Sitting on just under 18 acres in the Riverdale neighborhood, the center is currently anchored by Ace Hardware, Riverdale 10 Movie Theatre, Whole Hog BBQ Café, and Tuesday Morning.
“This is a prime redevelopment opportunity,” said Lefler. “We have plans to upgrade the façade, paint, parking lot, landscaping among many other improvements. We also have a handful of new tenants coming that will be announced soon.”
One of the first new tenants to sign on is Eat My Catfish, which will be located on the endcap of the retail complex. “We are thrilled to help redevelop this timeless center and be a part of the Riverdale community,” said Travis Hester, owner of Eat My Catfish, and a partner in the project.
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