The Crown Center in the Pleasant Grove area is changing owners.
Robert White, the longtime owner, believes it is time for this property to be taken over by the next generation of investors and developers.
"I bought the property in 1989 when it had been through a series of owners and developed as the Texarkana Racquet Club," said White. "At the time, it had been losing money for a while. When I bought it from the club owners then, I let it run for six more months as a racquet club, but after a while, it became clear that was not going to work, as it continued to lose money."
White's enterprises include 78 stores in 18 states. When he bought the Texarkana Racquet Club, that area of the town was considerably less developed than it is now, and a large part of that development was due to White's business activities.
But as his businesses developed, he began to realize he needed more office space. It turns out the former Texarkana Racquet Club fit the bill perfectly.
Thus, the Crown Center was born.
"It was exactly what I needed," White said. "It was a good property then and still is today."
Now the Crown Center is about to change hands. A local investor has bought the property, which is 47,000 square feet of office space, 93 percent leased out. In addition, the property has 42,000 more square feet for development, if desired.
"The property changes hands to the new owners at the end of March, thereabouts," said White.
White, 82, is thinking of the coming years and the next generation to develop property and businesses in Texarkana and who will be the next caretakers of his holdings. He was very busy after turning the racquet club into the Crown Center, building other local developments, including the local Cable One office, a doctor's office and a gym.
Most recently, his attention has been on the Boggy Creek Hunting Club, a 420-acre hunting club on the Sulphur River.
"It is in the same area where the Legend of Boggy Creek came from," he said. "It is nearly completed. I am in the process of deciding whether to run it myself or sell it. It is a hunting club."
When thinking of the future of his properties and the next generation that will be building and developing in Texarkana, he reflected on his prosperity and is very grateful for his good fortune.
"I travel a lot and people constantly ask me about Texarkana, my home," he said. "I consider myself very fortunate to have grown up here and have a chance to raise my family here. Texarkana is a wonderful hometown and it has been very nice to me."