News in brief

LR warehouse deal put at $38 million

The Southwest Little Rock warehouse that has housed a FedEx Ground distribution center since the $50 million facility opened in 2016 has changed ownership in a nearly $38 million transaction.

Sealy & Company, a commercial real estate investment firm with offices in Atlanta, Dallas, Houston and Shreveport, announced last month it had acquired the 303,369-square-foot facility on 45 acres at 8 Industrial Way but didn't disclose the price, which was recently posted on the Pulaski County assessor's website.

The company said the Class A industrial warehouse is close to the Interstate 30/Interstate 40 interchange and features expansive parking and dock areas and an office, repair shop and guard house.

"This is a phenomenal asset to add to our portfolio," said Scott P. Sealy Jr., chief investment officer of Sealy & Company. "The location, credit tenancy, and capital strategy for this property are all key components."

The seller was Wilark LLC, which is tied to Realtech Leasing and Management Co. of Los Angeles. Wilark paid $31.7 million for the property in 2016.

-- Noel Oman

Sam's Club looking for athletic Sams

Sam's Club is taking to TikTok to find college athletes wishing to monetize their names and images under new NCAA rules -- there's one catch, those athletes have to be named Sam.

Walmart's warehouse division is offering $10,000 each to a total of 10 "Sam's Club Athletes" in college sports who exemplify sportsmanship, passion and the value of teamwork, according to a Wednesday release. Those selected have to be named Sam -- like Sam's Club founder Sam Walton -- or some version of the moniker, such as Samantha

"Supporting these athletes gives us a chance to connect with members in a new way, support students and rally behind many under-represented collegiate sports. It's a win-win," Megan Crozier, chief merchant at Sam's Club, said in a statement.

NCAA student athletes in Division I/II/III have until Sept. 27 to attach a video to the Sam's Club recruitment video on TikTok to show why they should be selected. The company has already signed four athletes.

The Sam's Club program capitalizes on the NCAA NIL agreement allowing college athletes to monetize their name, image, and likeness.

-- John Magsam

11.88 rise lifts index to 658.97 at day end

The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, closed Wednesday at 658.97, up 11.88.

"The energy sector led today's advance following a drop in U.S. crude oil inventories as U.S. stocks outperformed foreign markets on strong volume," said Leon Lants, managing director at Stephens Inc.

The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.

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