Oklahoma Buyers Take Timber Trails Duplexes
by October 1, 2012 12:00 am 145 views
Dwayne and Vonda Boggs of Oklahoma, through their Fayetteville Heights LLC, recently paid $1.85 million for 20 duplexes in the Timber Trails subdivision of Fayetteville.
The subdivision is just off South Happy Hollow Road north of Arkansas Highway 16.
The deal was funded with a 10-year mortgage worth $1.85 million held by First State Bank in Springdale. FSB foreclosed on the property in July and was the seller.
SBL Landholdings LLC, led by Robert N. Schmitt, paid Brandon Barber $1.4 million for the undeveloped acreage in March 2007.
Pump Station Property
A 42,000-SF building on Lot 22 of the Fayetteville Industrial Park changed hands in a $1.3 million deal.
Franklin L. Haney, through his HFNWA LLC, bought the building and about 14.5 acres at 1601 E. Pump Station Road. The seller was Cossatot River Properties LLC.
Haney is the founder of one of the country’s leading real estate and property developers, Washington, D.C.-based Franklin L. Haney Co.
The Pump Station Road property was tied to a previous mortgage in March 2010 held by Arvest Bank-Fayetteville worth $1.1 million. It last appraised in 2010 for $1.16 million.
Office Space
A Bentonville office building in South Walton Plaza has a new owner after a $950,000 transaction.
Norman Vantine and Lindell Mabry, through their Rockdell LLC, and Richard C. Hinds, are the new owners of the building at 2310 S.E. B St. in Bentonville.
It is located just east of the intersection of South Walton Boulevard and Southeast 22nd Street.
The seller was Access Title Ltd., led by president David George. Arvest Bank-Rogers helped fund the deal with a three-year mortgage worth $500,000.
The 10,200-SF, single-story building sits on 0.72 acres and was built in 2005.
Access Title bought it for $1.01 million. The seller was Procon Inc. of Bentonville.
The property appraised earlier this year for $1.22 million.
Submit tips about lease activity, construction, transactions or upcoming projects valued at $300,000 or more to Paul Gatling at [email protected].