Arkansas Business reports that Simmons First National Bank of Pine Bluff has acquired the Acxiom headquarters building in the River Market neighborhood.
Acxiom was only occupying a small portion of the building and those employees will move to Conway, where the company originally had headquarters. The purchase — price undisclosed — will consolidate some 200 Simmons employees at other locations in Little Rock.
The sale is a boon to local governments, particularly city schools. The city floated a tax-free bond issue for building construction and the deal included a total tax abatement as an incentive for the development downtown. With the sale back to a private party, the property should return to the tax rolls.