Kimbel Mechanical Takes Point West Property for $2.94 Million

A 113,448-SF industrial property in Phase II of the Point West addition in Fayetteville recently sold for $2.94 million.

Rob Kimbel, through his KMSDC LLC, bought the warehouse at 2075 N. Shiloh Drive near Interstate 540.

Kimbel is the CEO of Kimbel Mechanical Systems Inc. of Springdale.

Magnum Properties LLC, led by Phil and Judy Phillips, was the seller.

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

Chambers Bank of Danville funded the deal with a five-year mortgage of $2.94 million.

Marshall Saviers and Brian Shaw with Sage Partners of Fayetteville represented the seller.

The building has 13 existing dock doors and was constructed in 1999. The 6.70-acre development appraised in 2010 for $4.70 million.

Magnum purchased the property in February 2004 for $11.1 million.

 

Dance Academy

Oelke Construction Co. of Rogers is using a building permit valued at $1.28 million to build a 10,000-SF, single-story building in Phase III of the Cottonwood Village development in Bentonville.

The building is situated on a 0.97-acre lot at 900 S.E. Village Loop near the JumpZone Bentonville.

Kaleidoscope Dance Academy of Bentonville, founded in 2007, will be the building tenant. Construction is scheduled to be complete this fall.

KDA owners Richard and Laine Harper bought the lot in June for $159,000. Cottonwood Investment I LLC, managed by Ramsay Ball and Larry Olson, was the seller.

Mangold Burris Architecture of Rogers is handling the design work.

Mid-Land Erector Co. of Joplin, Mo., is doing the steel work.

Arvest Bank of Fayetteville is providing financing.

 

Multifamily Property

A Fayetteville multifamily property recently sold for $960,000.

Casa Americana Inc. of Texas bought the development at 8 S. Hill Ave.

Mikel and Julie Lolley, through their Hillstlofts LLC, were the sellers.

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

Lolley bought the property in August 2008 for $1 million.

The development has two buildings and about 11,540 square feet. It was built in 1965.

 

Metro Sale

A 6,567-SF retail property just off Walton Boulevard in Bentonville has a new owner after a $910,000 sale.

Englander NWA Metro LLC of Waco, Texas, led by Martin H. Englander, bought the development at 3607 S.E. Metro Parkway.

David Inglis, through his SE Metro LLC, was the seller.

Inwood National Bank of Dallas Bank funded the deal with a mortgage of $1.2 million.

Waco Title Co. of Springdale was the closing agent.

The 1.48-acre development appraised in 2011 for $1.26 million.

The single-story building, built in 1998, was formerly home to Metro Italiano, Boomers Time Out, Brioso Brazil and Molly MaGuires.

Inglis bought the property in April 2012 from First Bank for $488,000.  w

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.