Bentonville’s Commerce Centre Deal Closed
by July 6, 2012 10:17 am 141 views
Faithful Whispers followers may recall the pending sale of the Commerce Centre in Bentonville, which we told you about last spring.
We’ve now heard that deal was closed June 27 for a price of $4 million. Bentonville Commerce LLC, a company owned by FBE Limited LLC of New York, scooped up the distressed asset previously belonging to the U.S. Bank NA portfolio.
FBE Limited, by the way, is also the owner of the Bentonville Plaza, the nine-story office building across the street from Wal-Mart Stores Inc. headquarters.
Commerce Centre is a wrap-around office park — situated behind two strip mall centers, the Bentonville Post Office and Burger King on South Walton Boulevard — including eight buildings totaling about 120,000 SF, an average of approximately 15,000 SF per building.
It’s currently got an occupancy rate of about 30 percent.