iCrowd Newswire – Jul 29, 2020
The New York City Real Estate Firm Has Increased Its Deal Making Activity in Arkansas
Manhattan, NY – July 29, 2020 – EPM Partners, a real estate firm specializing in strategic repositioning of industrial properties, today announced that it has successfully sold two properties in Arkansas.
EPM reached an agreement to sell the former Nucor building at 1800 Sturgis Road for $6.8 million to Walmart in a joint venture with Structurlam, a Canadian manufacturer and innovator in the mass timber space. Mass timber is a category of building construction featuring structural laminated wood components for walls, roofs, floors, beams and columns. Structurlam selected Conway, AR for its proximity to 19 million acres of sustainable forestland that covers more than half of the state’s total land area. Structurlam will be using the plant to support the construction of the new Walmart headquarters in Bentonville using 1.1 million cubic feet of Arkansas grown and produced mass timber. This will make it the largest campus project in the U.S. using mass timber. The move is expected to create 130 new jobs in the community.
EPM Partners also closed on the sale of 6901 Lindsey Rd. in the port of Little Rock for $15.1 million to HMS Mfg., a company focused on the manufacturing of stylish housewares that promote home organization. The 550,000 square foot property will be used for a new state-of-the-art injection molding facility. The plant is expected to create 90 new jobs within two years and is a welcome addition to the thriving and expanding economy in the area. The nearby Little Rock Port is a unique asset that serves as a logistics hub, with four strategic modes of transportation supporting its 40 employers. The property had previously been vacant for seven years.
“We are extremely proud and excited about our recent transactions in the state of Arkansas,” stated Eli Zami, CEO of EPM Partners. “Our initial investment thesis was based on our belief in the resurgence of American manufacturing in general and the Arkansas market in particular. The strength of the local workforce, the location and the business-friendly climate of states like Arkansas will prove to be an increasingly irresistible combination to businesses looking to thrive in the new economy. We hope to increase our activity in the state and further contribute our expertise in repositioning great industrial properties in order to attract the best companies to the USA and help create a great deal of good-paying jobs.”
Binswanger, a global commercial real estate services firm, represented the seller on both deals. The Binswanger Broker was J. Holmes Davis IV, Senior Vice President and a recipient of Dallas CEO Magazine’s 2020 Broker of the Year Award for industrial tenant representation.
About EPM Partners
EPM Partners is a private, self-administered and self-managed, real estate firm that was formed to primarily engage in the business of acquiring, owning, developing and managing industrial properties throughout the United States. For more visit http://epm-partners.com/
Binswanger, a global leader in full-service commercial real estate, has been helping its clients realize their full real estate potential since 1931. Founded by real estate innovator and pioneer, Frank Binswanger Sr., the company operates with the understanding that real estate has the ability to strengthen businesses and transform communities. The company offers a variety of services benefitting both owners and occupiers including global real estate brokerage, location consulting, investment sales, tenant representation, corporate advisory, strategic consulting, and a variety of management services. ?Having worked with more than half of the Fortune 500, the employee-owned company has long been known as the industry leader in the acquisition and disposition of industrial and commercial facilities around the globe. ?For more information, please visit?www.binswanger.com.
Keywords: industrial real estate, warehouse, Arkansas, development, jobs, industrial property