Sims Building Equity With Stearns St. Purchase

A 19,208-SF office building just off Joyce Boulevard in Fayetteville has sold for $3.3 million, a purchase price of $171.80 per SF.

Building Equity LLC, led by Greg and Allissa Sims, bought the property at 1280 E. Stearns St.

Harold E. Crye, trustee of the Harold E. Crye Revocable Living Trust, was the seller.

United Bank of Springdale backed the purchase with a mortgage of $3.85 million.

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

Crye acquired the land, about a half-acre, in November 2006 from Tracy Hoskins for $1.03 million. The building was built in 2008.

The building is currently 61 percent occupied by two tenants — Crye-Leike Real Estate and Prime Title Co. The remaining space is being remodeled as the new headquarters of Fayetteville firm Sims & Renner Insurance, of which Greg Sims is president and owner.

The space became available when the previous tenant, Roller Weight Loss and Advanced Surgery, moved to a newly constructed office building at 1695 E. Rainforest Drive on Dec. 28.

Sims hopes to have his business — now at 5374 N. Crossover Road in Fayetteville — into the Stearns property by March.

 

Vintage Purchase

A 3,934-SF building in downtown Fayetteville has a new owner after a sale worth $525,000.

Chic-King Ranch Inc., led by Donnie and Charlotte King, bought the vacant building at 208 N. College Ave.

RBB LLC, of which Mary Ann Gunn and Sara Christian Gunn are members, was the seller.

Waco Title Co. of Springdale was the title agent.

Charlotte King is the owner of home goods retailer Lizzie B’s Vintage Shoppe at 1108 N. College Ave. in Fayetteville. She plans to relocate the business to the Gunn property.

The two-story building, originally built in the 1930s, had been vacant since June. Gunn bought the building in September 1990 for $95,000 and had it renovated to house her law practice.

 

South Main Abode

A 3,650-SF home near Bentonville’s downtown square recently sold for $850,000, a purchase price of $232.87 per SF.

Terry and Kathy Muldoon bought the four-bedroom home on South Main Street from Todd and Dana Renfrow.

Signature Bank of Arkansas in Bentonville financed the deal with a mortgage of $762,300.

Waco. Title Co. of Springdale was the title agent.

Natalie Edwards with Coldwell Banker Harris McHaney Faucette in Bentonville had the listing.

The two-story home was built in 1900 and underwent a complete renovation in 2013 by Lamplighter Restoration of Bentonville, of which Todd Renfrow is a principal.

 

Superior Land

Land for a proposed luxury automobile dealership in Bentonville recently sold for $1.17 million.

Fayetteville-based Superior Auto Group, led by principals David Slone, Travis Woods, Avis Bailey and Mike Lemons, bought three acres at 1700 S.E. Moberly Lane. The purchase price equates to $9 per SF.

The purchase was made in the name of the Michael David Slone and Ramah Sue Slone Grandchildren’s Trust.

Hope Church of Northwest Arkansas was the seller.

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

Ed Belto with Newmark Grubb Arkansas in Bentonville represented the seller.

 

Lease Activity

A Springdale-based furniture dealer has sub-let a 9,600-SF space in Rogers.

Mark Osborn, owner of Furniture Max, signed a four-year lease for the space at 2877 W. Walnut St.

Dobbs Management Co. of Bella Vista is the building owner.

Craig Hull with Hull & Co. Commercial Real Estate in Rogers handled the sublet. 

Submit tips about lease activity, construction, transactions or upcoming projects valued at $300,000 or more to Paul Gatling at [email protected]. Please write ‘Real Deals’ in the subject line.