Real Deals: Over 70 acres in Lowell acquired for .6 million

Real Deals: Over 70 Acres in Lowell Acquired for .6 Million

In a significant real estate transaction, more than 70 acres in Lowell, Arkansas, have been acquired for .6 million. This substantial purchase marks a notable movement in the local property market, underscoring the ongoing demand for land with strategic locations.

Detailed Transaction

The property in question is located along Arkansas Highway 265 and encompasses a combined 70.56 acres. The land is sandwiched between Albarossa Street and Castanea Avenue, providing easy accessibility and potentially lucrative development opportunities. The acquisition was facilitated by NWA LD LLC, a company managed by Scott Peters and John Rausch, who is also the chairman and CEO of Fayetteville-based Rausch Coleman Homes.

Background on Rausch Coleman Homes

Rausch Coleman Homes, a prominent name in the region’s construction industry, has been a staple in Arkansas for years. Recently, in November, Miami-based Lennar Corp., a leading U.S. home builder, agreed to acquire Rausch Coleman Homes. This acquisition not only highlights the growing interest in the regional real estate market but also underscores the increasing consolidation within the industry.

Financial Breakdown

The purchase price of .6 million translates to approximately 0,967 per acre, a significant figure considering the potential for development and growth around the property. This investment demonstrates confidence in the area’s future as a major hub for residential and commercial projects. The financial backing for this deal came from a combination of efforts, with details available through local title agents First National Title Co. and City Title & Closing LLC in Fayetteville.

Future Prospects

The strategic location of the acquired land, adjacent to major highways and existing commercial areas, presents a range of possibilities for future development projects. Whether these will include residential communities, retail spaces, or industrial ventures, the acquisition itself is a strong indicator of potential growth in Lowell. As the details of this transaction unfold, it’s clear that this purchase will have lasting impacts on the local economy and real estate landscape.

Key Points

Land Location: Sited along Arkansas Highway 265.
Acres: Over 70 acres.
Purchase Price: .6 million.
Development Potential: Strategic location for future projects.
Managers: Scott Peters and John Rausch.
Financial Assistance: Title agents First National Title Co. and City Title & Closing LLC.

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