One of the tallest buildings in town is under new ownership.
Specialized announced the purchase on the company’s website Wednesday, but did not disclose the sale price. County records indicate the sale price was $3.125 million.
The partners purchased the building from Ball Plaza Holdings, LLC, a company registered to local businessman Ted Belden.
The seven-story building is home to several companies, including local restaurants Fresco and Alchemy Macaroons, theatre company TheatreSquared, and other office tenants.
Specialized CEO Jeremy Hudson said the building will continue to provide office space for companies who want to locate in downtown Fayetteville.
“In keeping with our mission of building healthy places, we are excited about the possibilities to reinvent EJ Ball,” Hudson said. “There’s a lack of Class A office space in downtown Fayetteville, and this building offers panoramic views and proximity to Arkansas’ best farmers’ market.”
Hudson said his company chose Moses Tucker as a partner for the project based on their track record in downtown Little Rock. The EJ Ball project marks the first major project for Moses Tucker in Northwest Arkansas.
“Redevelopment of EJ Ball…is aligned with our philosophy of building strong core cities,” said Jamie Moses, director of development for Moses Tucker. “With local support of the downtown square and a great partner in Specialized Real Estate Group we expect that this project will add to the neighborhood’s momentum.”