FAYETTEVILLE -- It looks like Ozark Natural Foods won't move closer to downtown, at least for now.
Joshua Youngblood, president of the board of the co-op, said the contract with the prospective buyer for the store's space in the Evelyn Hills shopping center fell through.
"There were certain things they wanted met through the contract process that weren't able to happen," he said. "It has to do with use of land."
The co-op announced in July plans to move to the former IGA building at the southeast corner of College Avenue and Lafayette Street.
Two contracts, one to sell the Evelyn Hills space and another to buy the IGA building, are no longer in place, Youngblood said. However, the store is keeping its options open.
"If a really good deal were to come across our table and looked like it would be in the best interest of the owners, then the board would look at it again," he said.
Ozark Natural Foods bought its space 10 years ago and paid off the mortgage in 2012. Dallas-based Provident Realty Advisors bought the rest of the shopping center in April for $7.2 million, according to property records. Colliers International subsequently became the property manager.
Youngblood said the Dallas-based company had shown interest in buying the Ozark Natural Foods space, but it wasn't the prospective buyer in the now-defunct contract. Youngblood declined to identify that entity.
"I don't want to shut the door completely yet, even though the contract is over," he said.
Sterling Hamilton, listing agent on both properties, said the store's space is technically not off the market. The former IGA building is still very much up for grabs, although it does not have a listed price.
Regardless of what Ozark Natural Foods plans, someone is going to move into the IGA building, Hamilton said. It's one of the most valuable pieces of property on the market in the city, and interest has been sky high, he said.
"It's been pretty much off the hook today," Hamilton said, referring to the number of phone calls from interested buyers.
The building most recently served as home to CV's Family Foods before it closed last spring. It was Saver's Club before then, but for years was known as Marvin's IGA and IGA. The Charles Agee family has owned it for decades.
NW News on 09/11/2018