Romine Completes Purchase of Tontitown Industrial Building (Real Deals)

A 58,101-SF industrial property in the Maestri subdivision about two miles west of Interstate 540 in Tontitown recently sold for $2.6 million.

Al G. Romine of Celebration, Fla., bought the 6.41-acre development at 609 Laura Lane from Debra and Michael Pianalto, through their Pianalto LLC.

Benefit Bank in Springdale funded the deal with a five-year mortgage of $2.6 million.

The two-story building was constructed in 2004. It includes 11,000 SF of office space with 28 private offices and a conference room, and 47,000 SF of manufacturing or warehouse space with two loading docks.

Current tenants include Complete Audio Visual Inc. and Reliable Consolidation and Distribution Inc.

 

Restaurant Refinance

The owner of a 10,528-SF Fayetteville restaurant picked up a $2.05 million mortgage.

J.J.S.J. Pak LLC, led by John K. Pak, obtained the six-year loan from Jonesboro-based Liberty Bank of Arkansas.

The Shogun restaurant at 4906 N. Steele Blvd. previously was tied to a February 2009 mortgage of $1.65 million held by Arvest Bank of Fayetteville.

Pak bought the 2.78-acre site of the project for $848,000 in September 2004.

The development appraised in 2010 for $2.23 million.

 

Apartment Acquisition

Ownership of a bank-owned multifamily development on the east side of Springdale changed hands in a $2.02 million deal.

Double L Investments of Booneville LLC, led by Aaron Littlefield III, bought the apartments at 1907 E. Emma Ave.

The seller was Summit Bank of Arkadelphia.

Chambers Bank of Danville funded the deal with a mortgage of $2.02 million.

The property includes 13 two-story buildings and a combined 55 units, each of them about 1,000 SF.

The development appraised for $3.15 million in 2010.

 

Poultry Property

A commercial poultry property in rural Benton County recently sold for $1.45 million.

Mai Sundara and Ngochue T. Nguyen bought the 20.31-acre development on Falling Springs Road near Decatur. Jerry and Alisha Beck were the sellers.

Legacy National Bank of Springdale provided the financing.

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

The property includes a 2,234-SF residence, a shop and six 43-by-500 foot fully updated broiler houses.

Beck acquired the property, totaling 76.56 acres, in June 2002 for $135,000. Carl and Janice Mason were the sellers.

 

Talamore Abode

A 6,520-SF home in Phase I of the Talamore subdivision off Arkansas Highway 72 west of Bentonville has a new owner after a $1.1 million sale.

Philip Dutton and his wife, Judith Jane McKenna, bought the Kennesaw Drive property from Matthew and Catherine Kistler.

The five-bedroom home was built in 2009, and appraised in 2011 for $922,100.

Kistler bought the 3.24-acre lot from Bella Structures LLC in April 2008 for $180,000.

Bella Structures bought the lot in June 2006 from Michael L. and Teka Bryan for $0.

Bryan, owner of Bella Structures, bought the lot in January 2004 from Kendra W. and Robert E. Adair for $115,000.

Adair bought the lot in June 2000 from 3-Putz LLC, led by Dan Dykema, Rusty Hames and Chip Gibbons, for $70,000.

 

Hix Home

A 5,499-SF, seven-bedroom estate home on East Skillern Road in east Fayetteville recently sold for $1.05 million.

Robert and Paige Hix, through their RPH 2010 Trust, bought the home from Carrie A. Greene Eggart.

Bank of America NA of Charlotte, N.C., provided financing with a 25-year, $1.05 million mortgage.

The 3.5-acre property also has a two-bedroom guesthouse, and appraised in 2010 for $1.03 million.

Eggart and Miles Eggart, trustees of The 2003 Revocable Trust of Miles P. Eggart, bought the home in 2004 from Robert and Loren Rhoads  for $1.3 million.

 

Convenient Sale

A 3,577-SF shuttered commercial development in Highfill rang up a $955,000 sale.

The Branding Iron Market and Grille LLC, led by Leon and Lisa Jones, bought the former Village Market Grille at 14939 W. Highway 12, west of the Northwest Arkansas Regional Airport.

The seller was GMS Properties LLC, led by Mahmoud R. Chitsazan.

First State Bank of Fayetteville provided the financing with two commercial mortgages totaling $986,200.

 

Caerleon Residence

A 4,678-SF home in the St. Valery Downs subdivision of Cave Springs recently sold for $875,000.

Greg and Cassandra Cathey bought the home on Caerleon Circle from John and Brandy Furner.

Bank of America NA of Charlotte, N.C., financed the deal with a 30-year mortgage of $700,000.

The home was built in 2005, and appraised in 2012 for $709,000. Furner bought the 1.22-acre lot in April 2004 from The Arnold D. Lehman Revocable Trust for $79,000.

 

Dunroven Deal           

A bank-owned home in Phase III of the Shadow Valley addition of Rogers recently sold for $815,000.

Brandon and Kari Nikolish bought the 5,885-SF home on Dunroven Lane from First Carroll Bankshares Inc.

Berryville-based First National Bank of North Arkansas provided financing with a mortgage of $733,500.

The five-bedroom home was built on a one-acre lot in 2006, and appraised in 2012 for $779,050.

First Carroll Bankshares acquired the home in September.

The previous owners, Scott Smith and Amy Sarver, bought the two-story home in March 2007 for $945,000 from Jones Group Inc.

Jones Group, led by president James Jones, bought the home in June 2006 for $905,000 from Patrick and Julie Swope.

Swope bought the land in June 2005 for $115,000 from the C.R. Reaves Family Limited Partnership

 

County Court Residence

Ownership of a recently restored home in Fayetteville’s County Court addition changed hands in a $451,500 transaction.

Rashad and Kristal Delph bought the home on North Highland Avenue. The seller was Mark Zweig Inc., led by president Mark Zweig.

As part of the transaction, Zweig paid $210,000 for the Delphs’ home on Southwest Bamboo in Bentonville.

Fayetteville’s Signature Bank of Arkansas provided the financing for both transactions.

Delph bought the 2,103-SF home in August 2007 for $240,000. The home, built in 2006, last appraised in 2011 for $195,700.

Zweig bought the North Highland Avenue home, built in 1946, from Mary Jo Roberts in July for $210,000.