Diamond State, LLC, a sister company to Douglas Companies, has purchased the property formerly belonging to school bus manufacturing giant, IC Bus, LLC for $1.8 million.
The property includes an existing 60,000 square foot industrial building and 17.5 acres at the intersection of South German Lane and Dave Ward Drive.
Diamond State, LLC purchased the property to expand its distribution presence in the area.
Founded in 1973, Douglas Companies’ primarily tobacco and candy driven distribution network has operated out of Conway since 1978 and grown tremendously.
It plans to build a new distribution center and commercially develop the southwest corner of the site.
Newmark Grubb Arkansas, a commercial real estate firm with offices in Central and Northwest Arkansas, brokered the sale.
Philip Hiegel, a Conway specialist with Newmark Grubb Arkansas, brokered the sale and exclusively represented the Seller, IC Bus LLC.