BELLA VISTA, Ark. — It may be a few months until Blue Crane announces what it plans to do with the property it bought in Bella Vista earlier this year, but city leaders believe the Walton heirs’ interest is a sign its time has come.
Blue Crane, the real estate development arm of the investment company Runway Group of Bentonville, purchased 54 acres in Bella Vista for $33.9 million in January. In May, Blue Crane scooped up 2,700 acres of undeveloped rural land west of Bella Vista for at least $26 million.
Runway Group is a holding company that was founded by Steuart and Tom Walton, grandsons of Walmart Inc. founder Sam Walton. Runway Group declined to comment for this article, but said previously that it would be “focusing on outdoor recreation, hospitality and retail investments.”
To read more on Blue Crane's latest purchases and what it means for Bella Vista, our content partner Arkansas Business has the full article here.
May report:
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