Roths Raid Residential Lots in Fayettevilles Summit Place

Residential development is in motion for the Summit Place subdivision of Fayetteville after a $2.45 million land deal.

Bentonville-based homebuilders Randy Roth and his brother, Jeff Roth, co-owners of Homes by Roth, recently purchased 58 lots in the subdivision southeast of the intersection of East Township Street and College Avenue.

The purchase was made in the name of Elite Equity Group of Arkansas LLC.

Wyma Pearson, trustee of the Pearson Family Trust, was the seller.

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

First Western Bank in Rogers financed the deal with a mortgage of $2.45 million.

Investment Acquisition

A 1.72-acre commercial development in Phase I of the CMN Business Park II addition in Fayetteville has a new owner after a $1.55 million sale.

CFKS Investments LLC, led by Scott W. Stokenbury, bought the two retail buildings totaling 12,690 SF at 4107 and 4115 N. Steele Blvd., near the Northwest Arkansas Mall.

Lot 1 CMN LLC, managed by Patrick J. Harris, was the seller.

Regency Beauty Institute occupies 100 percent of the 6,120-SF building at 4107 N. Steele.

Ozanne Family Chiropractic is the only tenant at 4115 N. Steele, which is less than 100 percent occupied.

Riverlyn Renovation

A renovated home in the gated Riverlyn Estates addition east of Fayetteville has a new owner after a $565,000 sale.

Jerry and Alice Carlton bought the 4,703-SF home on Riverlyn Drive.

Mark Zweig Inc. of Fayetteville, led by president Mark Zweig, was the seller.

Fayetteville-based Signature Bank of Arkansas financed the deal.

Lenders Title Co. in Fayetteville was the closing agent.

Zweig acquired the property from Malcolm and Sandra Hutchins in February for $300,000.

The four-bedroom home was built in 1997 on a 2.07-acre lot. Amenities include four-car garage, multiple porches and three fireplaces.

Candlewood Claim

Ownership of a 3,716-SF home in Fayetteville’s Candlewood subdivision changed hands in a $500,000 deal.

Robert and Brenda Gullett bought the home on North Candlewood Drive from Janie R. Chambers.

Waco Title Co. of Springdale was the title agent.

Mary Bassett and Patsy Chance with Bassett Mix & Associates of Fayetteville were the listing agents.

Pine Bluff-chartered Simmons First National Bank financed the purchase with a 30-year, $300,000 mortgage.
The four-bedroom home was built in 2000 and has a most recent appraisal of $497,350.