DMT Services Pays $1.2 Million for Franklin Electric Building

A vacant warehouse property and nearly 30 acres in Siloam Springs came off the market after a $1.2 million deal.

The Siloam Springs-based freight shipping and trucking company DMT Services Inc., led by president Dale Moten, bought the 240,589-SF building and acreage at 650 U.S. Highway 412.

The seller was Bluffton, Ind.-based Franklin Electric, which operated a plant at the site for almost 50 years before ceasing operations in April 2010.

Benefit Bank of Fort Smith financed the deal.

Butch Gurganus with Colliers International in Bentonville represented the seller.

DMT will relocate its current headquarters at 995 S. Lincoln St. to the new location after the first of the year.

The company also plans to lease part of the new space to additional tenants.

The property last appraised in 2011 for $5.82 million.

 

Lake Abode           

A 4,675-SF remodeled home on a private peninsula in the Dornoch subdivision of Bella Vista has a new owner after an $850,000 sale.

Tom and Sandra Watson sold the Talana Place property on Lake Loch Lomond to Bradley and Tamara Jones.

Arvest Bank of Fayetteville financed the deal.

The five-bedroom, two-story home was built in 1999 on a 1.29-acre lot. It includes Brazilian hardwood floors throughout and a screened-in porch. The home appraised earlier this year for $599,500.

Watson bought the property in July 2006 for $510,000.

 

Tiger Tracts

A retail strip center in north Bentonville rang up a $790,000 sale.

Tiger Street Properties LLC of Katy, Texas, led by members Charles Cuadra and Wanda Braswell, bought tracts 1 and 2 of the Waffle Hut addition at 1140 N. Walton Blvd.

The seller of the approximately one-acre property was Mathias Shopping Centers Inc. of Springdale, led by Sam Mathias.

Pinnacle Bank of Bentonville financed the deal.

The 11,946-SF building, known as Neighborhood Shopping Center, has tenants that include Eureka Pizza, Wild Heart Design and Crumpet Tea Room Express.

Mathias bought the property, at the corner of North Walton and Tiger boulevards, in 1994 for $225,000. The building was constructed in 1997.

Submit tips about lease activity, construction, transactions or upcoming projects valued at $300,000 or more to Paul Gatling at [email protected]. Please write ‘Real Deals’ in the subject line.