Blue Crane Expands Holdings with 54-Acre Purchase in Bella Vista

Blue Crane, a real estate firm based in Bentonville, has recently purchased approximately 54 acres in Bella Vista through three separate transactions amounting to $33.9 million, paving the way for potential new developments.

Located east of U.S. Highway 71 Business, the acquired properties include the Sugar Creek Shopping Center, a 9.5-acre site with 48,000 square feet of space housing multiple tenants, including Allen’s Food Market as its anchor.

Most of the purchased land is positioned to the north and east of the shopping center. A significant portion of the funds, $31.9 million, was paid to Cooper Communities Inc. of Rogers, the initial developer of Bella Vista as a retirement community since the 1960s. The remaining $2 million was spent on a gas station at 2811 Bella Vista Way, previously owned by WillPett Investments LLC.

Property records from Benton County indicate that these deals were finalized at the end of January.

Run by the Runway Group, which is under the leadership of Steuart Walton and Tom Walton, grandsons of Walmart founder Sam Walton, Blue Crane functions as the acquisition and development branch of this diversified holding company. The leaders' deep-rooted connection to the area is highlighted by Tom Walton’s statement reminiscing about his childhood experiences in Bella Vista and his commitment to maintaining the area’s natural charm amidst its development into a prime spot for outdoor activities like cycling and golf.

Future projects by Blue Crane could mirror its varied portfolio in Bentonville, which includes ventures in hospitality, retail, mixed-use, and residential developments, with significant projects like the 8th Street Market and Skylight Cinema.

Bella Vista’s Mayor John Flynn expressed optimism about Blue Crane’s expansion into the area, praising their community-focused and environmentally conscious development approach.

Further emphasizing their commitment to the region, Blue Crane is planning a new 160-acre outdoor recreational space dedicated to cycling in Bentonville, indicating broader growth in local business and recreational offerings.

Blue Crane has reassured stakeholders by renewing the lease for Allen’s Food Market in the Sugar Creek Center, affirming their collaborative approach with local entities like the Bella Vista Property Owners Association to foster a thriving community.