A 56-acre parcel of pasture land located east of Interstate 49 and north of the headquarters of J.B. Hunt Transport Services Inc. in Lowell has recently been sold for $18.25 million, at a price of $323,008 per acre. The land was acquired by J.B. Hunt in separate lots on both sides of South Dixieland Street. The purchase was part of a phased project to expand the company’s corporate campus, with approval for development plans granted by the Lowell Planning Commission.
The seller of the property was identified as Joe A. Bishop of Lowell, with Bronson Abstract Co. in Fayetteville serving as the title agent for the transaction. The deed was filed in Benton County Circuit Court on Jan. 13.
J.B. Hunt reported mixed financial results for the fourth quarter of the year, with a 1.2% increase in earnings but a 4.76% decrease in revenue compared to the same period in the previous year. For the entire year of 2024, earnings fell by 21.6% and revenue declined by 5.79%. Despite this, shares of J.B. Hunt (NASDAQ: JBHT) were trading up on Friday at $170.20, showing a positive trend for the company’s stock compared to its previous performance.
Overall, the purchase of the 56 acres of land by J.B. Hunt marks a significant step in the company’s efforts to expand its presence in Lowell and develop its corporate campus further.
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