Caseys Remains Active in NWA Real Estate Market (Real Deals)
by January 7, 2013 12:00 am 80 views
A quartet of recent land deals — three in Benton County and another in Washington County — totaling 7.47 acres and $3.85 million is paving the way for four Casey’s General Store developments.
Casey’s Marketing Co. of Ankeny, Iowa, paid $725,000 for three tracts totaling 1.5 acres at the northwest corner of Main Street and Highway 102 in Centerton. The sellers were George and Charlene Duncan, Roger Duncan, Jeffrey and Debra Kuhlman and Bobbie Griffith, widow of Jimmie Griffith.
The company paid $472,500 for 2.45 acres on the northeast corner of West Olrich and South Eighth streets in Rogers. The seller was The Blevins Trust.
Casey’s also acquired three tracts totaling 1.52 acres at the corner of Second and Locust streets in Rogers for $725,000. The sellers were Michael and Laura Jeffcoat, Richard Watson and Donald and Margaret Evans.
In Washington County, the company bought two acres for $1.93 million at the southwest corner of Don Tyson Parkway and South Thompson Street in Springdale. The sellers were Kent and Connie Dobbs.
Steve Fineberg and Amy Mills with Steve Fineberg & Associates of Bentonville represented Casey’s.
Auction Acquisition
A 121-room hotel in Bentonville is off the market after being sold during an online auction for $1.63 million.
SCP & MJ LLC, which lists Curtis Hutchins of Fayetteville as the registered agent, bought the Value Place extended-stay hotel at 1201 Phyllis St.
The seller was a nontraditional lender based in Baltimore doing business as 1201 Phyllis Drive Holdings LLC.
The property — appraised for $1.7 million last year — was foreclosed on in September 2010.
Sugar Creek Sale
A bank-owned rural property of 406 acres of pasture and timber in Benton County recently changed hands in a $1.4 million deal.
According to a corporate warranty deed, Donald Pitts, owner of Springdale-based United Bank, paid for the 3,848-SF house and acreage — made up of six parcels — at 10662 Sugar Creek Road in Bentonville. Pitts made the transaction in the name of the Pitts Family Trust.
The seller was United Bank, which took ownership in October 2011 via a deed in lieu of foreclosure.
The previous owner was the Roger Mabry Revocable Trust, led by dairy producer and cattle breeder Roger Mabry.
The deal was backed with a five-year mortgage worth $1.12 million held by Arvest Bank of Fayetteville.