CBRE Brokers Sale of 19-Property Car Dealership Portfolio Across Arkansas, Oklahoma and Texas
January 27, 2021
Fayetteville, AR – Jan. 27, 2021 – CBRE announced the sale of a 19-property retail portfolio totaling over 90,000 square feet of space. The individual car dealerships were sold to Miami-based Orion Buying Corp. The seller of the portfolio is the Fleeman family, the original founders of America’s Car-Mart.
The car dealerships sold are located in Arkansas, Oklahoma and Texas. The properties provided the buyer with a unique ownership opportunity, as all 19 locations are free-standing with new eight-year lease terms with no standing debt.
In addition to directly sourcing the buyer, CBRE also structured the buyer’s debt, assisted in lease negotiation with the tenant and coordinated all new third-party studies and reports.
“We are proud to have been able to leverage the integrated CBRE platform to help the Fleeman family successfully transition out of their legacy real estate holdings and position themselves for exciting and diverse opportunities for reinvestment,” said Will Lightfoot, Senior Vice President with CBRE Capital Markets.
“The original Car-Mart was founded by the Fleeman’s here in Northwest Arkansas which, as a region, has a longstanding reputation for regional, national and global entrepreneurship,” said David Erstine, First Vice President with CBRE in Fayetteville. “Since 2016, I’ve had the opportunity to work with the Fleeman family on numerous family transactions. I’m thrilled we were able to utilize CBRE’s network to find an investor for the properties and get the sale across the finish line.”
The properties included in the sale are located at:
- 5900 South University – Little Rock, AR
- 2007 S. 8th – Rogers, AR
- 4006 Towson Ave – Fort Smith, AR
- 20 E. Taft – Sapulpa, OK
- 424 Hwy 62 & 65 N – Harrison, AR
- 2300 E. Main – Russellville, AR
- 3733 W. Sunset – Springdale, AR
- 3015 Summerhill – Texarkana, TX
- 1220 E. Oak St. – Conway, AR
- 520 S. Blake St. – Pine Bluff, AR
- 1301 Military Rd. – Benton, AR
- 2724 W. Martin Luther King Blvd. – Fayetteville, AR
- 1866 East Robinson – Springdale, AR
- 1600 East Broadway – West Memphis, AR
- 3291 SE Washington Blvd – Bartlesville, OK
- 1315 Red Wolf Blvd– Jonesboro, AR
- 1608 Albert Pike – Hot Springs, AR
- 1610 W. Hillsboro – El Dorado, AR
- 1501 W. Shawnee – Muskogee, OK
- 2620 W. Hudson Rd. – Rogers, AR
- 635 California – Camden, AR
Will Lightfoot and Jason Little with CBRE in Oklahoma City and David Erstine with CBRE in Fayetteville represented the seller in the transaction. CBRE is marketing the remaining three properties in Tulsa, Oklahoma; Camden, Arkansas and Pine Bluff, Arkansas.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.