Rogers Warehouse Development Tips Scales at $2.5 Million

A collection of six warehouse buildings in Rogers totaling 117,550 SF has a new owner after a $2.5 million sale, a purchase price of $21.27 per SF.

HEWS LLC, led by Edward D. Hurley, bought the buildings at 549-559 N. 13th St.

The Dean Garman Revocable Trust was the seller.

The 7.74-acre development was listed and sold by Jeff Pederson with Fayetteville-based Lindsey & Associates.

Simmons First National Bank in Fayetteville financed the deal with a mortgage of $2 million.

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

Key tenants include Kennametal Inc., Moonlight Sweepers, SNS Consulting LLC, Your Cleaning Specialist Inc. and Virginia Rubber Corp.

The development has about 30,000 SF available for lease. The buildings range in size from 9,800 SF to 26,600 SF.

Landmarc Lots

Landmarc Custom Homes of Springdale, owned by Tim Boudrey and Chris Bradley, recently paid $1.41 million for 31 residential lots in Phase IV of the Cross Creek addition of Rogers, a purchase price of $45,569 per lot.

Cooper Homes Inc. of Rogers, a subsidiary of Cooper Communities Inc. and led by Jody Latham, was the seller.

First Security Bank of Searcy provided financing.

Waco Title Co. was the title agent.

Landmarc will build custom pre-sold and spec homes in the neighborhood, east of Bellview Road off of Garrett Road.

Homes will range from 3,000 to 4,000 SF and $350,000 to $500,000.

Doug Gibson with Crye-Leike Realtors of Rogers is the listing agent.

Hilltop Hotel

A 30-unit economy hotel near a busy Springdale intersection has a new owner after a $900,000 sale, a purchase price of $30,000 per unit.

Tapi Ma Inc., led by Victor Bhakta, acquired the Hilltop Inn at 3601 S. Thompson St., near the intersection with Don Tyson Parkway.

B & J of Northwest Arkansas Inc., led by Bhupendra Patel, was the seller.

United Bank of Springdale provided financing with a mortgage of $558,279.

Patel acquired the 1-acre development in September 2006 for $694,000.

The two-building property was built in 1983. 

Sunset Sale

An 18,840-SF strip center in Springdale has a new owner after a $1.04 million sale, a purchase price of $55.46 per SF.

Saul Sosa of Fayetteville, through his Sosa Properties LLC, bought the two-building property at 3418-3430 W. Sunset Ave.

Triad Investments Inc., led by Bob Downum of Springdale, was the seller.

Signature Bank of Arkansas provided financing with a five-year, $1.34 million mortgage.

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

The 1.54-acre development is fully leased by a combined five tenants. They include Sunset Grill, L.A. Marketing Inc., Dollar General, Weichert, Realtors — The Downum Group and Koreana Tae Kwon Do Academy.

The buildings were built in 1995. Triad acquired the land in December 1994 for $170,000. Raintree Village, led by Charles Palmer and Ralph Freeman, was the seller.