Village Inn, 3364 N. College Ave., Fayetteville
The Village Inn on College Avenue in Fayetteville was one of four restaurants sold in a recent transaction worth nearly $7.2 million.
The sale also included Village Inn restaurants in Bentonville, Fort Smith and Quincy, Ill. The stores will continue to operate as Village Inn, according to a news release.
Sherwood Hospitality Group, LLC and Sherwood/Walker Properties, LLC purchased the stores from Hospitality Specialists, LLC on Nov. 19. Hospitality Specialists had operated the restaurants since about 1995.
George Babb, president of Hospitality Specialists, said he was pleased to announce the sale of his restaurants, and he’s happy to turn the stores over to Sherwood and Sherwood/Walker. “In my 24 years as president, I have endeavored to operate quality restaurants and I am confident this tradition will continue,” said Babb.
Katie Hampton and Tom Reed of Colliers International Arkansas represented the buyer and seller. Hampton said the buyer is a third-generation family-owned and operated restaurant management company that currently manages 10 stores in Orlando and Tampa, Fla., and Virginia Beach, Va.
“They have a proven track record of running and maintaining Village Inn restaurants,” said Hampton.