NAI Harmon Group of Toledo, Ohio, an office of NAI Global, a leading global commercial real estate brokerage firm, announced it has purchased 30 acres of prime real estate within Chaffee Crossing in Fort Smith, Arkansas.
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, land that 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 feel 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.”
Harmon Group has plans to build two, 300,000 SF warehouses on the property. They have enjoyed working with the Fort Chaffee Redevelopment Authority and feel that this project will aid in the overall growth for the area. With an unemployment rate below the national average, the Fort Smith region has a strong workforce and a driven economy. The Harmon Group is excited to build in Chaffee Crossing with its strong manufacturing community. This will be the fourth property that they have developed in Fort Smith area in the past seven years.
About NAI Harmon
As the leading independent commercial real estate brokerage and property management firm in the Northwest Ohio, NAI Harmon Group offers real estate marketing, warehousing and logistics, construction, property management, and much more. Currently, NAI Harmon Group has invested nearly $500,000,000 nationally in commercial development. This diverse portfolio of commercial property includes over 15,000,000 SF in 16 states. The group is proud to have participated in some of the largest transactions in
About NAI Global
NAI Global is a leading global commercial real estate brokerage firm. NAI Global offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their commercial real estate needs. NAI Global has more than 400 offices strategically located throughout North America, Latin America, Europe, Africa, and the Asian Pacific, with over 7,000 local market professionals.
About Fort Chaffee Redevelopment Authority/Chaffee Crossing
Chaffee Crossing is Arkansas’ 7,000-acre premiere 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.
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