A private investor group, assisted by Colliers International Arkansas, has closed on the purchase of the remaining 54 acres surrounding the Outlets of Little Rock and Bass Pro Shop along Bass Pro Parkway in the Otter Creek area of Little Rock.
The new investors will take over the site, known as Gateway Town Center, and develop the area as a destination for both national and local retailers, restaurants and entertainment.
Town Center LLC, led by Tommy Hodges, original developer of Gateway Town Center, was the seller of the property.
The core of the new development, dubbed “The Grove at Gateway Town Center,” will be lined with 500 trees illuminated year-round by more than a half million lights and feature live music venues, restaurants hotels and more. A pedestrian promenade will easily link The Grove’s restaurants, shops and venues to the outlets, Bass Pro and the new development.
Construction has already begun at The Grove on Arkansas’ first Dave and Busters location featuring a restaurant and a video arcade. A freestanding Cavender’s western wear outfitter opened at the site last fall.
The Outlets at Little Rock are already home to more than 60 major retailers and restaurants. Read more about the outlets here.
“Our intent is to develop and build off of what Tommy created with the outlets and Bass Pro,” said Isaac Smith, principal and executive vice president at Colliers International. “Tommy has done a masterful job paving the way for Gateway’s success. We’re honored to continue his legacy at this exciting new destination.”
Initial plans call for 10,000 square feet of retail and restaurant space to be completed later this year, followed by additional space for entertainment-type destinations, hotels and other retailers.
Colliers International is handling the leasing of the new retail center and leading the push to market all of the remaining property, which ranges in size from 1 to 11 acres.
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