PotlatchDeltic/Chenal Properties Selects Cushman & Wakefield | Sage Partners to Market Commercial Property in Chenal Valley
More than 370 acres of prime west Little Rock commercial real estate
LITTLE ROCK, Ark. (July 29, 2019) – PotlatchDeltic has selected Cushman & Wakefield | Sage Partners as its broker for the sale and development of commercial property located in Chenal Valley in west Little Rock, Arkansas. Chenal Valley is a premier master-planned community originally created by Arkansas-based Deltic Timber and now part of PotlatchDeltic as the result of a recent merger. PotlatchDeltic and its subsidiary, Chenal Properties, will continue to directly develop and market the residential acreage in Chenal Valley. The area has fueled growth in Little Rock in the last decade with the development of hundreds of high-quality homes, new businesses and an upscale outdoor mall called The Promenade.
“After a competitive process to determine our next partner, we believe the team at Sage Partners will provide the energy needed to build upon the success of the Chenal area,” said Dave Meghreblian, Vice President of Real Estate Development for PotlatchDeltic. “We made this decision to enhance the positive momentum of high-quality commercial projects seeking to be located in Chenal Valley,” continued Mr. Meghreblian.
PotlatchDeltic currently has more than 370 acres of commercial property that will be available over time for sale and development. “We are honored to have the opportunity to market this area on behalf of PotlatchDeltic,” said Rick O’Brien, market director of Sage Partners. “The Chenal area is well positioned to lead economic growth in Central Arkansas and we look forward to helping businesses achieve their goals. Sage will utilize the same energy and vision used in leading the effort to develop Ms. Johnelle Hunt’s Pinnacle Hills development in Rogers,” said Mr. O’Brien. He went on to say, “With our involvement in both Chenal Valley and Pinnacle Hills we now have direct participation in the two most prestigious and active commercial developments in the state.”
Sage will incorporate a team concept that includes the local team of Aaron Nicholson, Ryan Gibson, Jason Parker and Rick O’Brien, as well as it’s full team of brokers located in Rogers. This team concept will allow Sage to emphasize the synergies between the two largest commercial markets in the state and utilize talents that have made Northwest Arkansas one of the hottest commercial markets in the country. Rebecca Cate, a long-time Chenal Properties broker, will join Sage Partners as a broker and assist the team in its efforts to sell or develop these properties.
PotlatchDeltic (NASDAQ:PCH) is a leading Real Estate Investment Trust (REIT) that owns nearly 1.9 million acres of timber land in Alabama, Arkansas, Idaho, Louisiana, Minnesota and Mississippi. Through its taxable REIT subsidiary, the company also operates six sawmills, an industrial-grade plywood mill, a residential and commercial real estate development business and a rural timberland sales program. PotlatchDeltic, a leader in sustainable forest practices, is dedicated to long-term stewardship and sustainable management of its timber resources. More information can be found at www.potlatchdeltic.com.
About Cushman & Wakefield | Sage Partners
Cushman & Wakefield | Sage Partners, a member of the Cushman & Wakefield Alliance, is a locally owned and operated, full service commercial real estate firm with offices in Rogers and Little Rock, Arkansas. Founded in 2005, Sage Partners currently manages more than 4.5 million square feet across Arkansas and employs 16 brokers and 60 other professionals who use their experience to create real estate solutions to prepare our clients for what’s next.
Media Contact: Jordan Johnson