Colorado Investors Buy Former World Gym For $5.26M

by Paul Gatling ([email protected]) 316 views 

A vacant 48,000-SF special purpose building in Lowell recently tipped the scales at $5.26 million, a purchase price of $109.77 per SF.

WCG Empire LLC of Fort Collins, Colorado, a group of investors led by Shannon Wood, bought the 3.81-acre development at 1607 Empire St., near the intersection of West Pleasant Grove Road and U.S. Highway 71.

Bentonville developer Mike Charlton, through his WGL LLC, was the seller.

Pinnacle Bank in Rogers provided financing with a mortgage of $5.78 million.

Lenders Title Co. of Fayetteville was the title agent.

Tim Salmonsen, commercial director of Keller Williams Market Pro Realty in Bentonville, was the listing agent.

Charlton bought the land in 2007 for $830,000 and the single-story building was built the following year.

World Gym was the previous tenant.

The building includes three swimming pools, four saunas, executive-style locker rooms, basketball court, indoor track and children’s facility.


Hunting Retreat

A hunting retreat/private residence on approximately 357 wooded acres in northern Benton County has a new owner after a recent sale worth $850,000.

Dane Workman, through his Roundtop 4 LLC, bought the property on Roundtop Road in Sulphur Springs, west of Arkansas Highway 59.

Chandler Springs LLC, led by Jeff Chandler, his son Chris Chandler and daughter-in-law Morgan Chandler, was the seller.

Fayetteville-chartered Arvest Bank funded the deal with a five-year mortgage of $675,000.

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

Morgan Chandler, a broker with Portfolio Luxury Real Estate of Rogers, had the property listing.

The property includes a three-bedroom, 1,998-SF cabin built in 2012 with satellite/internet/security cameras and attached 5,640-SF shop. 

Other amenities of the property include three tree stands, two raised steel box blinds and four ground steel box blinds. 

Chandler acquired the land in January 2012 for $319,000. Arvest Bank, which foreclosed on the acreage in July 2010, was the seller.

MEI Property Holdings LLC, led by Richard K. Barrett, bought the land in February 2007 for $650,000. Reva I. Baker was the seller.


Versailles Residence

New construction in the Versailles subdivision just west of Bentonville on Arkansas Highway 72 in Centerton recently sold for $725,500.

Vince Biondo and his wife, Jing He, bought the 4,836-SF home on Le Chesnay Drive, a purchase price of $150.02 per SF.

Riggins Properties Inc. of Fayetteville, led by Darin Riggins, was the seller.

First Western Mortgage Inc. of Booneville provided financing with a 15-year mortgage of $350,000.

Realty Title & Closing Services LLC of Fayetteville was the title agent.

Kendall Riggins with Lindsey & Associates of Fayetteville had the listing.

The four-bedroom home sits on a 1.89-acre lot.

Riggings Properties bought the lot and three others in May 2014 for $231,000.


Country Club Abode

A 4,766-SF home overlooking the 16th green at Springdale Country Club recently sold for $520,000, a purchase price of $109.10 per SF.

Tim and Julie Hutchinson bought the three-bedroom residence on Windsor Avenue from Bill and Vickie Mathews.

Grand Savings Bank in Bentonville provided financing.

Brad Bruns with Lindsey & Associates of Fayetteville had the listing at $549,000.

Mathews bought the one-acre lot in 2004 for $100,000. Gary Brandon Enterprises Inc. was the seller.