Walmart Grabs Market Land in Siloam Springs for $2.17 Million

The site of a planned Walmart Neighborhood Market in Siloam Springs recently sold in two land deals for a combined $2.17 million.

Wal-Mart Stores Inc. bought the former Price Cutter grocery store, a 48,000-SF building, at 1600 Highway 412 West. The seller was John Brown University.

The 3.59-acre development, at the corner of Highway 412 and South Holly Street, was built in 1983.

Walmart also paid $525,000 for an adjacent 7,160-SF building at 1660 Highway 412 West, formerly the Bank of Siloam Springs.

Decatur State Bank was the seller. DSB acquired the building in 1996 for $512,000.

The new 41,000-SF Neighborhood Market is scheduled to open in fall 2014.

 

Goodwill Grab

A retail development in Fayetteville recently sold for $1.65 million.

Goodwill Industries of Arkansas Inc., led by Brian Itzkowitz, bought the building at 705 E. Appleby Road at the corner of College Avenue.

The seller was HODG I LLC of Overland Park, Kan.

Bank of the Ozarks backed the deal with a mortgage of $1.18 million.

Goodwill had been leasing the building since opening a retail store and donation center there in the fall of 2012.

HODG paid $1.07 million for the property in May 2012. It was previously an Aldi discount grocery store.

 

Duplex Deal

Ownership of eight multifamily properties in the Oakwood Park subdivision of northwest Bentonville changed hands in a $1.23 million deal.

Jamal Parker bought the townhome-style duplexes on Lots 13 through 20 from CPP LLC, led by Paul Pinkley.

The two-story units were built in 2009 and are each about 2,000 SF. They are at 600, 601, 602, 603, 604, 605, 606 and 607 N.W. 17th Court, north of Bella Vista Road off Oakwood Avenue.

CPP bought the development, which included 14 units, from First Western Bank in February 2009 for $1.6 million.

The bank acquired the land in May 2008 from Titan Homes Inc. of Springdale, led by Chuck Rogers. Titan bought the land, about 2.13 acres, in February 2006 for $350,000.

 

Commercial Land

Commercial land along Highway 62 in Fayetteville recently sold for $700,000.

Mathias Shopping Centers Inc. of Springdale, led by president Arthur Thurman, bought 3.26 acres at 3070 W. Martin Luther King Jr. Blvd., just east of Lucy’s Diner.

Mark and Laura Bazyk Revocable Trust was the seller.

Centennial Bank of Conway funded the deal with a mortgage of $525,000.

Realty Title & Closing Services LLC was the closing agent.

Bazyk bought the property for $1.37 million in January 2006. H&R Auto Tire Co. was the seller.

 

Champions Abode

A 3,762-SF home in the Champions Golf & Country Club addition of Rogers has a new owner after a $574,000 sale.

Derek and Julie Dinsmore bought the West Champions Boulevard home from NEI Global Relocation Co. of Omaha, Neb.

Arvest Bank financed the deal with a mortgage of $459,000.

The two-story home was built in 1992 and last appraised in 2012 for $448,600.

William R. Clark Jr. and Harriet Clark were the most recent owners. Clark bought the home in April 2011 for $403,000. Michael and Darla Poland were the sellers.

 

Walton Property

A planned liquor store development in Bentonville is in motion after a $280,000 deal.

Walton Blvd. Wine & Spirits LLC, led by Erik Danielson, bought the building at 404/406 Razorback Road at the intersection of Walton Boulevard.

Floyd and Shirley Slimmer were the sellers.

The single-story building, formerly occupied by Coffelt Monuments and Reynolds Pest Control, is 2,600 SF.