Beard?s Funeral Chapel in Fayetteville Sells For $1.1 Million

Happy Hollow Investment LLC, led by Tommy Holland and Shannon Patton, recently bought Beard’s Funeral Chapel in east Fayetteville for $1.1 million.

The property is at East Huntsville and South Happy Hollow roads.

The seller was Beard’s Funeral Chapel Inc., led by president Judy Beard and treasurer/secretary John W. Beard.

The deal was backed by a four-year mortgage of $1.5 million from Simmons First Bank of Northwest Arkansas in Bentonville.

The 8,860-SF building sits on 4.7 acres and was constructed in 1998. The chapel has seating for 190.

Holland said there are no operational or staffing changes planned, noting that John and Judy Beard would remain in an advisory/consulting role for at least the next three years.

 

Garden Park Apartments

Sells For $11.1 Million

A 252-unit apartment complex in Fayetteville tipped the scales at $11.1 million.

According to a special warranty deed, HPI Garden Park LLC of Delaware acquired the Garden Park project at 1225 W. Mount Comfort Road.

The seller was REO Holdings III LLC, led by Chris Elkins, which acquired the development from Metropolitan National Bank of Little Rock in January. The bank received ownership through foreclosure in December 2010.

The deal was partially funded with a five-year mortgage of $9.4 million from MNB.

The transaction included two tracts of land, one 9.94 acres and the other a 0.01-acre strip of roadway (West James Street.)

Garden Park underwent a $6.4 million renovation in 2008. Amenities include a clubhouse, swimming pool, fitness center, lighted tennis courts, outdoor basketball court and sand volleyball.

Waco Title Co. of Springdale closed the sale.

 

Rose Meade Acquisitions

CV Estates LLC, which lists Dwayne Boggs as the registered agent, acquired 19 multifamily units in the Rose Meade subdivision of Siloam Springs in a $1.6 million transaction.

The seller was Cap Reo 1 LLC of Portland, Ore., led by president Homer G. Williams.

The two-story duplexes are on Azlin Court.

Waco Title Co. of Springdale closed the sale.

The deal was backed by two mortgages from Arvest Bank of Fayetteville. The first, for $1.2 million, was tied to Lots 1-6, 15, 17, 18 and 19. The second, for $80,000, was for lots 7-14 and 16.

 

Cornerstone Starts Four in Riverwalk

Cornerstone Construction Homes Inc., led by president Tim McGuire and his wife Dayna, has four more starts under way in Phase IV of the Riverwalk Farm Estates subdivision in Bentonville.

The single-family homes under construction are valued at a combined $1.04 million.

Cornerstone is currently building seven other homes in Riverwalk, which sits north of Arkansas Highway 12 and south of Arkansas Highway 102, near Greenhouse Road.

The homes are being built at 2600 S.W. Glen Ridge Road, 2500 S.W. Calm Ridge Road, 3401 S.W. Cranbrook Ave. and 3401 S.W. Windy Way Ave.

Riverwalk includes a community clubhouse and pool. POA dues are $35 per month.

Floor plans range from 2,050 to 2,286 SF and prices range from $220,000 to $247,000.

Subcontractors include Fletcher Cabinets of Hiwasse, G&D Drywall Inc. of Hiwasse, Wallace Framing of Springdale and Double D Concrete of Avoca.

Katie Voldeng with Century 21 Exclamation Realty in Rogers is the listing agent.

 

ARC Construction Purchases 43 Lots

ARC Construction & Development Inc. of Centerton, led by Ralph Walker, Allen Walker and Carl Walker, recently bought 43 lots in the St. James Park subdivision of Fayetteville.

ARC purchased the lots from Arvest Bank of Fayetteville for $955,000. Arvest foreclosed on the lots in February. The previous owner was John David Lindsey Development LLC.

The subdivision is just to the west of the Clabber Creek subdivision off Mount Comfort Road.

There are 30 homes already built in St. James Park. ARC bought the remaining lots.

The group plans five to 10 construction starts within the month. Some of the homes are already pre-sold.

Listing prices will vary with a median price of $179,900 and a median size of 1,925 SF, three bedrooms, two bathrooms and a three-car garage.

Sean Morris of Walker & Associates Realtors Inc. in Centerton will be the exclusive listing agent.

 

Pinnacle Abode

A two-story home in the Pinnacle subdivision of southwest Rogers has a new owner after an $850,000 sale.

Matthew and Angela Lyle bought the Oxford Drive home from Andrew and Marnie Pfeifer.

The deal was backed with a 30-year mortgage of $643,500 from Legacy National Bank of Springdale.

The Pfeifers bought the home from Mark Melton Construction Inc. of Bentonville in February 2007 for $850,000.

Melton Construction built the home in 2006. It last appraised in 2009 for $770,900

The 5,038-SF home on 0.51 acres has four bedrooms and a theatre room.

Coldwell Banker Harris McHaney & Faucette listed the property. John Mayer and Rich Maletto, of the firm’s Rogers office, were the co-listing agents.

 

Champions Home

A 3,868-SF home in southwest Rogers’ Champions Golf & Country Club subdivision in southwest Rogers rang up an $895,000 sale.

David and Melinda Allen acquired the Champions Boulevard property from James and Christine Howard.

Financing was provided through two separate mortgages – a 30-year loan of $417,000 from Arvest Mortgage Co. of Lowell and a 5-year loan of $143,000 from Arvest Bank of Fayetteville.

Waco Title Co. of Springdale closed the sale.

Melanie Howard of Lindsey & Associates was the listing agent. Diane Callahan of Coldwell Banker Harris McHaney & Faucette represented the buyer.

The four-bedroom, two-story home was built in 2000 and remodeled in 2010. It last appraised in 2010 for $645,2000 and sits on 0.37 acres overlooking the 12th fairway at Pinnacle Country Club.

The property was acquired from Donald Paul Zimmerman, trustee of the Donald Paul Zimmerman Trust, and Claudia Ellen Zimmerman, trustee of the Claudia Ellen Zimmerman Trust, in January 2009 for $665,000.

 

Office Mart Sells

Sanders Investments 3 LLC of Hot Springs, led by Edward Sanders, recently acquired Office Mart at 235 S. 40th St. in Springdale for $725,000.

The seller was Blue Star Properties LLC, led by Murphy Still, the president of Office Mart Inc.

Office Mart is in the retail office furniture business.

 

Atco Mortgage

A Springdale manufacturing plant helped obtain an $18.1 million funding agreement.

Atco Rubber Products Inc. obtained the loan from Compass Bank.

The 5.13-acre development at 1403 Powell St. was acquired in July 2001 for $1.19 million. The seller, according to a special warranty deed, was Rita Anderson.

ATCO is the world’s largest manufacturer of flexible ducts used for heating, ventilating and air-conditioning systems for residential and commercial applications.

The Springdale location is one of the company’s 19 manufacturing sites worldwide. w

Submit tips about lease activity, construction, transactions or upcoming projects valued at $300,000 or more to Paul Gatling at [email protected].