NAI Harmon Group has made a major purchase in Fort Smith, Arkansas that 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 industries. We are highly confident it will be a successful $40 million investment for NAI Harmon Group.”