Bentonvilles Shamrock Suites Development Sold for $4.2M

A two-building office park totaling 40,950 SF has a new owner after a $4.2 million sale.

Ben Butler and John Brownlee, through their August 31 Holdings LLC, bought the Shamrock Suites development at 900-902 S.E. Fifth St. in Bentonville.

A group of investors including Dan Douglas, Meredith Douglas-Boze, Tara Douglas, Judy Bell and Sue Dolezel was the seller.

First Bank in Rogers funded the deal with a three-year mortgage of $3.36 million.

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

The two buildings, filled primarily with Wal-Mart Stores Inc. vendors, were built in 2004 and appraised in 2011 for $3.08 million.

The property sold in February 2005 for $5 million. Shamrock Ventures LP of Dallas, led by Marty and Jim O’Connor was the seller.

 Shamrock Ventures bought the 2.2-acre lot in April 2003 from Elmer Scott of Bentonville for $200,000.

 

MedExpress Movement

A health care development in Bentonville recently sold in a sale-leaseback deal worth $1.72 million.

STORE Capital Corp. of Scottsdale, Ariz., through its Store Master Funding VII LLC, bought the MedExpress Urgent Care facility at 1006 S.E. Walton Blvd. The facility opened Aug. 27.

MedExpress, through its LQ3-Bentonville LLC, was the seller.

Citibank NA in New York funded the deal.

MedExpress bought the 1.12-acre lot for $625,000 in April. Williams & Dame Development of Oregon, through its CAP REO 1 LLC, was the seller.

Williams & Dame acquired two lots totaling 3.2 acres for $211,000 in September 2010. ANB Ventures LLC was the seller.

 

Pinnacle Property

A 7,445-SF estate home in Phase IV of the Pinnacle subdivision recently sold for $1.07 million.

Kent and Roxanne Ferm bought the Pinnacle Drive home from Evan and Trisha Lukasik.

Mercury Title LLC in Fayetteville was the closing agent.

Jason Benham and Rhonda Balmer with Bassett Mix & Associates of Fayetteville had the listing.

Lukasik bought the 1-acre lot in July 2011 from Tallchamps LLC for $237,000.

The two-story home was built in 2013 by Bentonville builder Fairchild Construction and appraised this year for $1.09 million.

 

Collision Center

Milestone Construction Co. LLC of Springdale is using a building permit valued at $906,000 to build a 9,000-SF building at 2406 W. Hudson Road in Rogers.

The building is a second location for Northwest Arkansas Collision Center of Farmington, owned by Ken Rue. The building will include a 1,500 SF of showroom, lobby and office space, with the remainder shop space.

The architect is Key Architecture Inc. of Fayetteville. HP Engineering Inc. of Rogers is the mechanical engineer, Bates & Associates of Fayetteville is the civil engineer and JLA Engineers Inc. of Lowell is the structural engineer.

Subcontractors working on the project include Berger Electric of Bella Vista, Quality Plumbing of Lowell, RGC Glass of Fayetteville and Eric McBride Commercial & Industrial Masonry of Gravette.

Rue, through his KRI LLC, bought the land, 1.8 acres, in April for $397,000. Iowa-based Kum & Go was the seller.

 

Convenient Purchase

A convenience store development in Van Buren is in motion after a land acquisition worth $800,000.

Casey’s Marketing Co. of Ankeny, Iowa, paid for 1.33 acres at the southeast corner of East Pointer Trail and Arkansas Highway 59.

A vacant auto dealership currently occupies the site.

The seller was Randall’s Charter LLC, led by Joseph B. Randall of Fort Smith.

The property will be developed into a Casey’s General Store location.

Amy Mills with Steve Fineberg & Associates Inc. of Bentonville represented Casey’s in the transaction.

 

Commercial Land

Commercial land on South Walton Boulevard in Bentonville recently sold for $600,000.

Mathias Shopping Centers Inc. of Springdale, led by president Arthur Thurman, bought a 1.88-acre lot in the Cognizant addition. The undeveloped land is next to the Mathias-owned Bentonville Landing retail development at 2510 S. Walton Blvd.

Henry K. Jordan, through his R.E. Speculations LLC, was the seller.

Realty Title & Closing Services LLC in Springdale was the closing agent.

Ed Belto with Newmark Grubb Arkansas in Bentonville had the listing.

 

Avignon Abode

A 3,692-SF home in the Avignon subdivision of Bentonville has a new owner after a $580,000 sale.

Marvin and Marsha Gray bought the property on Northwest Avignon Way from Jack and Deborah Carr.

Waco Title Co. of Springdale was the title agent.

Teresa Benningfield of Weichert Realtors — The Griffin Co. in Bentonville represented the buyer. Scott Waymire of Berkshire Hathaway Home Services of Bentonville represented the seller.

The four-bedroom home was built on a 0.55-acre lot in 2005 and appraised in 2011 for $454,050.

Carr bought the two-story property in December 2010 from Thomas and Mary Sharpe for $561,000.

Sharpe bought the home in May 2007 from Fred and Brenda Disch for $535,000.

 

Mach Deal

A 4,078-SF office building in Bentonville recently sold for $375,000.

Lee & Lee Investments, led by David A. Lee, bought the single-story building at 408 N. Walton Blvd.

The Michael J. Davis Revocable Trust, led by Michael and Malinda Davis, was the previous owner.

Michael Davis is president of Triad Investigations Inc., the previous tenant.

Benefit Bank in Fort Smith funded the deal with a 19-year mortgage of $460,110.

Mercury Title LLC in Rogers was the closing agent.

Patsy Simmons and Charla White with Coldwell Banker Harris McHaney Faucette in Rogers had the listing.

The building was built in 1969 and was recently renovated.

Lee is founder of Mach 1 Financial Group of Bella Vista and will be relocating the firm to the Bentonville property. Mach 1 has been in the Bella Vista Town Center since 2005.