Kutak Rock Building Sells In $5.75M Deal

A 35,759-SF Class A office building in Fayetteville has a new owner after a recent sale worth $5.75 million.

Bearden Millsap Property LLC of Fort Smith, led by Robert M. Bearden, bought the building at 234 E. Millsap Drive.

The seller was Building Equity LLC, led by Greg and Allissa Sims. Greg Sims is president and owner of Sims & Renner Insurance of Fayetteville.

Chambers Bank of Danville financed the deal with a seven-year mortgage of $4.42 million.

Andy Hague with Mathias Properties Inc. of Fayetteville assisted with the transaction.

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

Kutak Rock LLP, a law firm, occupies the top three floors of the building. Northwestern Mutual Financial Network occupies the first floor.

Sims bought the building in January 2013 for $3.35 million from Brewer Investments II LLC, led by Jerry and Kay Brewer and their sons, Clete Brewer and Chad Brewer.

Brewer Investments built the four-story building, which is in the CMN Business Park, in 1999.

 

Furr Deal

A 9,503-SF medical office building in Johnson recently sold for $2.1 million.

Dr. David Furr, through his David Furr Arkansas Properties LLC, bought the building at 5201 Willow Creek Drive.

Mel Collier, sole owner of Collier Diversification Specialties LLC, was the seller.

Fayetteville-chartered Signature Bank of Arkansas helped fund the deal with a five-year mortgage of $1.77 million.

Karen Colbert with Crye-Leike Real Estate Services in Springdale brokered the transaction.

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

Furr is co-owner of Image Quest Medical Clinic, one of the building’s tenants.

Fayetteville based Collier Drug Stores Inc. will continue to operate its retail pharmacy as well as its compounding pharmacy in the building.

The single-story building was built on one acre in 2005.

Collier bought the land in April 2002 for $240,000.

 

Hidden Springs Home

Three parcels totaling a little more than five acres in the Hidden Springs addition of north Bentonville recently tipped the scales at $1.51 million

Randy and Valorie Lawson, through their Vutara Properties LLC, bought the property on Linebarger Lane from Bill and Ruth Ann Sellers.

Arvest Bank of Fayetteville funded the deal with a one-year mortgage of $1 million.

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

The deal includes a 16,360-SF home on a 3.05-acre lot. It appraised in 2012 for $1.2 million.

The adjacent lots are undeveloped.

The property last sold in November 2004 for $1 million.

 

Arrowhead Acquisition

A 5,000-SF commercial property in Lowell recently sold for $1.2 million.

Six Arrowhead Properties LLC of Missouri, led by Jerry Pogue, bought the building at 418 S. Bloomington St.

Pogue is president of Arrowhead Building Supply Inc., a full-service exterior building supply company that also has facilities in Missouri (4) and Illinois. The Lowell store opened in April 2012.

Jay Blough was the seller. Blough acquired the 2.92-acre development in January 1997 for $695,000.

Lenders Title Co. in Bentonville was the closing agent.