University Mall sold | Arkansas Blog

Friday, September 28, 2007

University Mall sold

Posted By on Fri, Sep 28, 2007 at 8:30 PM

We reported earlier today that the owners of the land occupied by University Mall had no plans to sell it, but that's apparently not the case. Roby Brock's Talk Business blog reports that Strode Development, the Dallas company behind the Midtowne shopping center, announced today that they'd purchased the property and plan to put in a mixed-use, open-air shopping center called Park Avenue. Terms of the deal weren't disclosed, and Strode's not saying if they have any tenants lined up yet. It's not clear what the sale will do to the former owners' lawsuit against Simon Property Group, the company that operated the mall and recently gave notice to its few remaining tenants that their leases would be terminated

UPDATE: news release on jump,


Strode Property Company of Dallas,
Texas, announced today that it has purchased University Mall in Little Rock
and will redevelop the area into a mixed-use open-air lifestyle complex to
be called Park Avenue.  Contrary to an earlier report, Simon Property Group
Inc. has no further involvement with the project.

Strode Property recently developed and opened Midtowne Little Rock, an
upscale lifestyle shopping center that has attracted a host of specialty
retailers and restaurants.  Park Avenue and Midtowne Little Rock occupy
opposite corners of the University Avenue/Markham Street intersection,
further strengthening the retail dynamics in Little Rock¹s Midtown corridor.
Details of the transaction were not disclosed, and no tenants have been
confirmed at this time.

³Like Midtowne Little Rock, my hope is for Park Avenue to bring new life to
the University Avenue corridor and continue the ongoing redevelopment
efforts of Little Rock¹s central area,² said Jim Strode, of Dallas.

³Mr. Strode¹s plans for Park Avenue prove his commitment to the
redevelopment of this area of Little Rock,² said Little Rock Mayor Mark
Stodola.  ³This redevelopment fits perfectly with the ongoing plans for
revitalization of the University Avenue and 12th Street corridors,
redevelopment of War Memorial Park, the expansions of St. Vincent Health
System and UAMS, and the improvements in infrastructure along University
Avenue.  The Park Avenue project will be the crown jewel in the final
development of Little Rock's historic Midtown area.²

Current University Mall tenants have been given notice to vacate the
building within the next 30 days.  The outdated structure will be demolished
afterwards to make way for the development of Park Avenue.

Strode¹s Midtowne Little Rock, which opened in October 2006, has attracted
a number of upscale retailers including Pottery Barn and Williams-Sonoma.
The Container Store is scheduled to open in Midtowne Little Rock in March

Strode Property Company was founded in 1979 by James E. Strode, and
specializes in developing high-quality urban retail shopping centers and
credit build-to-suit opportunities.  Over 28 successful years, the company
has developed and managed over 5,000,000 square feet of retail shopping and
build-to-suit properties throughout the South.

Sign up for the Daily Update email

Comments (3)

Showing 1-3 of 3

Add a comment

Subscribe to this thread:
Showing 1-3 of 3

Add a comment

More by Jennifer Barnett Reed

  • Learning to love North Little Rock in Park Hill

    Any description of North Little Rock's Park Hill neighborhood will eventually, inevitably, include a comparison to Hillcrest, its better-known cousin south of the river.
    • Dec 28, 2011
  • A reason to splash

    Fun rain gear and more at InJoy.
    • Mar 12, 2009
  • Pick up some spice

    And we ain’t talking about tarragon.
    • Feb 26, 2009
  • More »

Readers also liked…

  • Trump immigration protest at LR: Quick and fierce

    It was not even 24 hours ago that Sophia Said, director of the Interfaith Center; City Director Kathy Webb and others decided to organize a protest today of Donald Trump's executive order that has left people from Muslim countries languishing in airports or unable to come to the US at all — people with visas, green cards,a  post-doc graduate student en route to Harvard, Google employees abroad, families. I got the message today before noon; others didn't find out until it was going on. But however folks found out, they turned out in huge numbers, more than thousand men, women and children, on the grounds of the state Capitol to listen to speakers from all faiths and many countries.
    • Jan 29, 2017
  • The LR chamber does the public's business. Is it accountable? Blue Hog on the case.

    Matt Campbell, lawyer and Blue Hog Report blogger, has sent a Freedom of Information Act request to Jay Chessir, director of the Little Rock Regional Chamber of Commerce, and Mayor Mark Stodola related to the publicity stunt yesterday  built around withdrawing from the mayor's rash pronouncement that the city would seek an Amazon HQ2 project even though the city  didn't meet the company's criteria.
    • Oct 20, 2017
  • Your daily dose of Jason Rapert

    Sen. Jason Rapert really, really didn't like it when a KATV reporter asked him about the hypocrisy of his political arguments.
    • Feb 4, 2017

Most Recent Comments



© 2018 Arkansas Times | 201 East Markham, Suite 200, Little Rock, AR 72201
Powered by Foundation