Rogers Warehouse on West Stribling Sells for $1.9 Million
by October 13, 2014 12:00 am 418 views
A New Jersey investment group is the new owner of a commercial building in the Magnolia Industrial Park addition of Rogers after a $1.9 million acquisition.
SummerStone Investments of Paramus, New Jersey, led by Alexander von Summer and John Bonfiglio, bought the 58,046-SF storage warehouse at 402 W. Stribling Drive.
The purchase was made in the name of 402 W. Stribling LLC.
Campbell Investment Properties LP of Rogers, led by Kim T. Campbell, was the seller.
Centennial Bank in Rogers financed the deal with a four-year mortgage of $1.52 million.
Campbell acquired the 3.6-acre development in January 2003 for $700,000. The building was built in 1997 and appraised for $1.69 million in 2011.
Tudor Home
A 5,872-SF home in Phase IV of the Pinnacle subdivision of Rogers recently sold for $1.32 million.
Michael and Susan Moore bought the property on Tudor Lane from Keith and Linda Folck.
City Title & Closing LLC of Fayetteville was the closing agent.
Brooke Hernandez with Weichert, Realtors — The Griffin Co. in Bentonville represented the buyer and the seller.
The four-bedroom home was built in 2006 and appraised earlier this year for $1.08 million.
Folck bought the property from Tallchamps LLC in July 2004 for $91,000.
Andy’s Acquisition
A 1,600-SF restaurant property on Walnut Street in Rogers now belongs to an Arizona REIT after a recent sale worth $1.2 million.
Spirit Realty Capital LLC of Scottsdale, through its Spirit Master Funding IX LLC, bought the Andy’s Frozen Custard restaurant at 2205 W. Walnut St.
Andy’s Frozen Custard Rogers LLC, led by the Missouri-based company’s namesake and president Andy Kuntz, was the seller.
The single-story building was built in 2005. Andy’s paid $300,000 for the property in May 2012. KEP LLC, led by local Andy’s franchisee Katy Powell, was the seller.
Estate Home
A private estate off Arkansas Highway 72 west of Bentonville has a new owner after a $1.05 million sale.
Keith and Linda Folck bought the 5.5-acre property on Short Road from the Mawby Family Revocable Trust, led by Matt and Marisha Mawby.
City Title & Closing LLC of Fayetteville was the closing agent.
Tim Wang with Keller Williams Realty NWA of Fayetteville had the listing.
Teresa Benningfield with Weichert, Realtors — The Griffin Co. represented the buyer.
The six-bedroom, 4,600-SF home was built in 2006. Mawby bought the land from Kent and Donna Coffee in October 2004 for $150,000.
Harvey to Horsebarn
A medical office building is in the works following a commercial land sale in Rogers worth $929,396.
Pediatric Workplaces LLC, led by Dr. Bryan Harvey, bought the 1.62-acre lot at the southwest corner of South 52nd and West Redbud streets just west of Interstate 49.
Horsebarn Holdings LLC, led by Gerald Johnston, was the seller.
First Security Bank of Searcy provided financing.
City Title & Closing LLC was the closing agent.
Amy Mills with Steve Fineberg & Associates Inc. of Bentonville represented Harvey in the purchase.
Harvey, owner of Harvey Pediatrics on Southeast Medical Center Parkway in Bentonville, is planning to build a 15,000-SF building on the Rogers property and relocate his practice.
Harvey Pediatrics will occupy the second floor. The first floor will be leased to other pediatric health care providers.
Marlon Blackwell of Fayetteville is handling the design work.
SSI Inc. in Springdale is the general contractor.
Bates & Associates of Fayetteville is the civil engineer.
Founded in Jonesboro, Harvey moved the practice to Bentonville in 2010. It has approximately 20 employees with three doctors and three nurse practitioners.
It is the only pediatric clinic in the nursery at Northwest Medical Center-Bentonville.
Restaurant Purchase
A vacant restaurant development in Rogers recently sold for $400,000.
Supachad Phahurat of Rogers bought the 2,974-SF building at 3600 W. Walnut St. Slim Chickens was the previous tenant.
Phahurat is the owner of Pattaya Thai Sushi at 1210 W. Sunset Ave. in Springdale. He is planning a similar development at the Walnut Street property.
Great Southern Bank of Springfield, Missouri was the seller.
City Title & Closing LLC of Fayetteville was the closing agent.
GSB financed the deal.
Matt Hairston and Clinton Bennett with CBRE|Northwest Arkansas brokered the deal.
The single-story building was built in 2005 and appraised this year for $787,250.