Mar 12, 2024 - News

Waltons' development company buys Bella Vista land

A photo of a grocery store called Allen's Foods.

Allen's Food Market anchors Sugar Creek Shopping Center in Bella Vista. Photo: Alex Golden/Axios

Bentonville developer Blue Crane purchased about 54 acres in Bella Vista for nearly $34 million, the Northwest Arkansas Business Journal first reported. A spokesperson confirmed the purchase.

Why it matters: Blue Crane is the construction and development arm of Runway Group, a holding company owned by Steuart and Tom Walton, grandsons of Walmart founder Sam Walton.

Follow the money: The purchase includes the 9.5-acre Sugar Creek Shopping Center, where Allen's Food Market is located.

  • Most of the other property is north and east of the shopping center and is largely undeveloped.
  • The group also acquired a gas station just south of the shopping center, the Business Journal reported.

Between the lines: The company is developing Bentonville Cycling Center, a 160-acre outdoor recreation area dedicated to cycling.

  • The area, known as Ironhead, is south of Bella Vista in north Bentonville.

The bottom line: "We see a great opportunity to invest in Bella Vista," Farris DeBoard, vice president of Blue Crane said in an emailed statement.

  • "While we haven't finalized plans yet, we look forward to engaging with the community to create more opportunities for business to thrive, people to connect with nature and to complement all the outdoor amenities."
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