News in brief

NW Kum & Go store

acquired for $4.35M

An unnamed Colorado investor is paying $4.35 million to purchase a Northwest Arkansas Kum & Go gas station and convenience store.

The nearly 5,000-square-foot store is at 2351 W. Sunset Ave. in Springdale and was sold by a Midwest-based real estate investment and development firm. The sale was announced by Blue West Capital, which represented both the buyer and the seller in the deal.

Kum & Go is the 18th-largest convenience store operator in the U.S. with over 400 locations.

Investors are purchasing convenience stores to take advantage of tax incentives, according to Zach Wright of Blue West.

“We anticipate the market for these properties to be extremely active in 2022,” Wright said. “Properties, such as this Kum & Go, that have strong corporate guarantees, long-term leases, and strategic locations in strong markets, will continue to be at the forefront of investor demand.”

— Andrew Moreau

Airline trade group

seeks delay on 5G

WASHINGTON — U.S. airlines are asking the Federal Communications Commission to delay next week’s scheduled rollout of new 5G wireless service near dozens of major airports, saying it could interfere with electronics that pilots rely on.

Airlines for America, a trade group for large U.S. passenger and cargo carriers, said in an emergency filing that the FCC has failed to adequately consider the harm that 5G service could do to the industry.

The group wants more time for the FCC and the Federal Aviation Administration, which regulates airlines, to resolve issues around aviation safety related to a type of 5G service called C-Band.

“Aircraft will not be able to rely on radio altimeters for numerous flight procedures and thus will not be able to land at certain airports,” the group said in a filing Thursday. Radio altimeters measure the height of planes above the ground.

A4A, as the group is called, said its 11 member airlines face the need to reroute or cancel “thousands” of flights, resulting in losses topping $1 billion.

The group said the new service will affect all three major airports in the New York City area — LaGuardia, Kennedy and Newark, N.J. — as well as O’Hare in Chicago, Logan in Boston, Dallas-Fort Worth, Los Angeles International and San Francisco.

The trade group’s general counsel threatened to go to court next week if the FAA does not respond to the group’s request for a delay.

— The Associated Press

State stock index

ends ’21 at 788.12

The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, closed Friday at 788.12, up 0.38.

The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.

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