Poultry Property in Summers Acquired for $2.7 Million

An 83-acre poultry development in rural western Washington County has a new owner after a $ 2.7 million sale.

Minh Tran and Muoi Thi Huynh paid David and Judith Drennan for the property at 13996 N. Highway 59 in Summers.

The transaction was financed with a 15-year, $2.2 million mortgage from First Western Bank in Booneville.

Lenders Title Co. in Fayetteville was the closing agent.

The property includes 12 broiler houses each measuring 43X500 feet, a 1,326-SF house, a guesthouse and two barns.

The Drennans paid Gum Springs Farms LLC $2.8 million for the property in May 2008.

Hamptons Development

Riggins Construction Co. in Springdale, led by president Kevin Riggins, recently purchased nine building permits valued at $2 million.

The permits are for single-family homes — seven in Washington County and two in Benton County

Six of the homes, ranging from 1,877 SF to 2,279 SF, will be the initial starts in the new Hamptons subdivision off Highway 16 in east Fayetteville. The subdivision has approximately 100 lots.

Riggins Properties Inc., led by president Darin Riggins, purchased the six lots for $168,000 from Legacy National Bank in Springdale.

City Title & Closing LLC in Fayetteville was the closing agent.

The remaining Washington County permit, valued at $402,069, is for the construction of a custom home at 2704 N. Candlewood Drive in the upscale Candlewood subdivision in east Fayetteville.

The 1.16-acre lot was sold recently to Chris and Kimberly Arnold for $125,000.

The two homes in Benton County will be built in southwest Bentonville at 4003 S.W. Layton Road and 4005 S.W. Layton Road in the Cornerstone Ridge subdivision, off North Morning Star Road south of Highway 12.

Riggins Properties acquired the lots recently for $25,000 each from First Security Bank of Searcy.

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