The Arkansas Democrat-Gazette reported that the Little Rock Port Authority this morning approved the sale of 15 acres for what would be a $30 million manufacturing facility that will employ 50 people.
The port did not name the company, but a buyer of 15 port acres has been on the city council’s agenda for tonight’s meeting since at least Saturday. The council must approve the sale. The buyer of this listed proposal is Steel Properties Land Co. According to company records, it is managed by Lexicon management group. This in turn is led by Patrick Schuck, head of Lexicon Fabricators and Constructors, the Little Rock-based steelmaker.
This project, according to a resolution before City Council, is to be on Thibault Road, not far from an existing Lexicon facility on Frazier Pike.
UPDATE: However, despite this item on the previous agenda, ANOTHER 15 acres were approved for sale this morning. he goes Synthesis technologies, a chemical manufacturer and will be on Frazier Pike. This was announced on an agenda just delivered for a special regular council meeting at 4pm ahead of a scheduled agenda session to approve the sale and also a 35 million bond issue dollars to build the plant. Synthesia is a manufacturer polyurethane systems, polyester polyols and specialty chemicals. This land is sold for nearly $725,000.
CORRECTION AND CLARIFICATION: Some confusion on my part and some comments from the city have caused me to confuse the purchase of the steel plant with the purchase of the chemical plant approved at a special meeting of the board of directors. administration today. The purchase of steel, 15 acres for $375,000, remains on the city council’s agenda for next week.
PS: A larger port sale is also on the agenda of the city council:
This is a sale of 65 acres of land near Zueber Road in Partners Bluestem LLC for $3.53 million. He reportedly wanted to build a million square feet of warehouse space to market to potential users. An LLC with this name is currently not listed as a registered company in Arkansas. At a city council meeting, Port Manager Bryan Day said Bluestem is based in Overland Park, Kansas, and he confirmed it was a speculative warehouse development chosen from among several proposals received after the port requested proposals to develop distribution facilities. He said the deal called for Bluestem to complete the first part of his project in 18 months.