NAI Harmon Group Purchases 30 Acres of Prime Real Estate in Fort Chaffee, Arkansas for Development
Official Press Release
For Immediate Release
Toledo, Ohio –09/22/2021 – NAI Harmon Group announced today that it has made a major purchase in Fort Smith, Arkansas. The purchase consists of 30 acres of prime real estate within Chaffee Crossing in Fort Smith, Arkansas. Similarly, NAI Harmon Group and Fort Chaffee have worked together on past redevelopment projects in the area. This will be the fourth property that they have developed in the Fort Smith area in the past seven years.
Fort Chaffee Redevelopment Authority (FCRA), the seller of the property, is an Arkansas Public Trust in charge of overseeing the 7000-acre economic development project known as Chaffee Crossing. This land was once part of the Fort Chaffee Army base.
FCRA Executive Director and CEO Daniel Mann has worked with NAI Harmon Group over the past six months to bring this important project to fruition. “Bringing 1.2 million square feet of warehouse space to the Fort Smith regional market at this point in time is a critically important step toward helping our economy grow and expand. The region is known for its industrial and manufacturing strength but warehouse space has been tight for some time, limiting expansions and new capital investment. This property in Chaffee Crossing is conveniently located on the Interstate 49 corridor in a rapidly developing area that can readily serve new and existing industry. We are highly confident it will be a successful $40 million investment for NAI Harmon Group.”
In conclusion, NAI Harmon Group has plans to build two, 300,000 SF warehouses on the property. They have enjoyed working with the Fort Chaffee Redevelopment Authority. They feel that this project will aid in the overall growth of the area. With an unemployment rate below the national average, the Fort Smith region has a strong workforce and a driven economy. The NAI Harmon Group and Fort Chaffee are excited for the forward momentum in Chaffee Crossing with its strong manufacturing community.
NAI Harmon Group – Media Contact:
Emily Wagy
Director of Communications
NAI Harmon Group
(419) 960-4410 ext 318
ewagy@naiharmon.com
About NAI Harmon Group
As the leading independent commercial real estate brokerage and property management firm in the Toledo, OH region, NAI Harmon Group offers real estate marketing, warehousing, logistics, construction, property management, and much more. Currently, NAI Harmon Group manages a diverse portfolio of commercial property and is proud to have participated in some of the largest transactions in Northwest Ohio.
About NAI Global
NAI Global is a leading global commercial real estate brokerage firm. Their offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their commercial real estate needs. With more than 400 offices strategically located throughout North America, Latin America, Europe, Africa, and Asia Pacific, with over 7,000 local market professionals, managing in excess of over 425 million square feet of property. Annually, NAI Global completes in excess of $20 billion in commercial real estate transactions throughout the world. NAI Global provides a complete range of corporate and institutional real estate services, including brokerage and leasing, property and facilities management, real estate investment and capital market services, due diligence, global supply chain, and logistics consulting, and related advisory services.
About Fort Chaffee Redevelopment Authority/Chaffee Crossing
Chaffee Crossing is Arkansas’ 7,000-acre premier economic development project located within the cities of Fort Smith and Barling. Under the direction and guidance of the Fort Chaffee Redevelopment Authority Public Trust, Chaffee Crossing has attracted $2.1 Billion in industrial, commercial, residential, educational, healthcare, historical, and recreational investments that are boosting the entire western Arkansas regional economy.