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Business Journal: Dillard's to anchor Central Landing

Posted: August 8, 2014 - 3:17pm

The Central Landing retail development now underway in Conway, Arkansas, has added a well-established name as a key anchor for the development’s first phase. Will Wilson, President of Jim Wilson & Associates, LLC and the company’s partner, the Conway Development Corporation, announced the completion of a letter of intent with Dillard’s, Inc. (DDS: NYSE) to become part of the Central Landing development.

The Arkansas-based retail giant will become an anchor for the development’s first phase. Dillard’s, Inc. ranks among the nation’s largest fashion apparel and home furnishings retailers with annual revenues exceeding $6.6 billion.

“Adding the commitment of Dillard’s to the retail segment of Central Landing speaks volumes about the positive retail future of this excellent site in Conway, Arkansas,” Wilson said. “Dillard’s, well known to everyone in Arkansas, will bring an exciting, state-of-the-art store to this exceptional, growing and vibrant market, only a short distance from its Little Rock corporate office.”

Bill Dillard II, CEO of Dillard’s Inc., added, “We are happy to announce our commitment to Central Landing, adding a ninth location to our home state of Arkansas. Conway is an established community and we look forward to serving this growing market that already knows Dillard’s as the hometown fashion destination.” The new Dillard’s at Central Landing is planned at 100,000 square feet and will feature the company’s latest advances in store design and construction.

The new shopping and dining destination located in the center of Conway will begin the transformation of the current airport site into a multi-use development that will serve Faulkner County, which is already recognized nationally as one of America’s fastest growing counties for population and job growth.

Central Landing is a 150-acre planned development featuring, in phase 1, the 250,000 square foot life style center, the Shoppes at Central Landing, anchored by Dillard’s department store and to be joined by over forty (40) specialty stores and restaurants. Following the retail phase, the development also includes plans for hotels, office buildings, single family residential and apartment homes.

The Central Landing project kicks off with the successful approval of the bond issue slated for a September 9, 2014, special election. Once approved, the timetable for the commencement of construction begins with the improvements outlined in the roadway bond issue.

“Located in the heart of Conway, Arkansas, Central Landing will be an important segment of the continued economic growth and development of the city,” Wilson said.

Dillard’s, Inc. was founded by William T. Dillard in 1938 in Nashville, Arkansas on an $8,000 investment in a hometown department store. Today, Dillard’s, Inc. ranks among the nation’s largest fashion apparel and home furnishings retailers with annual revenues exceeding $6.6 billion. The company operates 278 Dillard’s locations and 18 clearance centers spanning 29 states as well as CDI Contractors, LLC, one of Arkansas’ largest general contractors specializing in commercial construction projects including retail centers. Dillard’s focuses on delivering maximum fashion and value to its shoppers by offering compelling apparel and home selections complemented by exceptional customer care. Dillard’s stores offer a broad selection of merchandise and feature products from both national and exclusive brand sources. For more information about Dillard’s, please visit www.dillards.com.

Jim Wilson & Associates, LLC, based in Montgomery, Alabama, is a privately owned real estate company specializing in real estate development including shopping centers, residential real estate investments, offices, condominiums, hotels and mixed-use developments. With over three decades of real estate experience, JWA has developed in excess of 21 million square-feet of shopping center space. The company’s development portfolio includes residential communities and condominium residences, mixed-use developments, Class A office buildings and hotel and country club assets. For more information about Jim Wilson & Associates, LLC, please visit www.jwamalls.com.

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