Tontitown Lot Sold to Fayetteville Investor

by Talk Business & Politics ([email protected]) 330 views 

Cave Springs businessman Brett Hash recently sold his property at 992 E. Henri De Tonti Blvd., the former site of Mary Maestri’s restaurant, to Fayetteville investor Paul Rossi and his Mountain Pass LLC for $900,000.

The deal was financed with a $900,000 loan from Signature Bank.

The 1.4-acre tract at the northeast corner of Highway 112 and US 412 is one of a handful of lots Hash has listed with his real estate company, RE/MAX Associates of Fayetteville. He said the sell of the former Maestri’s location signals the beginning of a boom for that intersection.

“There’s a lot of stuff going on out there,” Hash said. “That corner has finally come into its own.”

Mountain Pass is expected to put a retail building on the location. Rossi could not be reached for comment.

Hash said a couple of national investors are already looking at the Tontitown location and that interest is high.

“It’ll be built out in the next two years, max,” he said.

Hash, through his PLBTP LLC, paid White River Bancshares Inc. $1.7 million for 2.5 acres at the intersection in December 2011.

He had planned to build a 30,000-SF shopping center named Casalini Court. PLBTP was an acronym that stood for “Please Lord Bless This Project.”

Those plans have been permanently shelved.

“The demand just wasn’t there,” Hash said.