Walton Entity Takes Downtown Residence For $5.3M

A 4,366-SF estate home on 8.7 acres near Bentonville’s downtown square has attracted a new ownership group following a sale worth $5.3 million.

According to a deed filed April 13, STJ Holdings LLC, a Delaware corporation controlled by members of the Walton family, now owns the four-bedroom home at 210 Old Whayne Road, which sits off Northeast Second Street two blocks east of the square.

Arend LLC, led by Debi Havner, was the seller.

Jan Holland with Coldwell Banker Harris McHaney & Faucette in Bentonville had the listing at $7 million.

Waco Title Co. of Springdale was the title agent.

The two-story home was built in 1968 by a Tulsa architect for the Ferold Arend family. Arend, who died last October, was the first corporate president and chief operating officer of Wal-Mart Stores Inc.

 

Clear Creek Abode

A 5,130-SF custom home in Phase III of the gated Clear Creek golf community in Johnson recently sold for $1.18 million, a purchase price of $230.99 per SF.

Lester Woerner bought the four-bedroom home on Chenoa Circle from Cynthia C. Morris.

Mary Bassett with Bassett Mix & Associates of Fayetteville had the listing.

Waco Title Co. of Springdale was the title agent.

Morris bought the home and 1-acre lot in December 2007 for $1.1 million. Kelly and Cheryl Danks were the sellers.

Danks bought the lot in December 2004 for $130,000. Clear Creek Residential LLC was the seller.

 

Bridgewater Residence

A 5,400-SF estate home on 2 acres in the Bridgewater Estates neighborhood in Fayetteville has a new owner after a recent sale of $710,000, a purchase price of $131.48 per SF.

Russell Fitzgerald bought the five-bedroom home on East Maywood Road from Eagle Holdings LLC.

Fayetteville-chartered Signature Bank of Arkansas financed the deal with a 30-year mortgage of $417,000.

Waco Title Co. of Springdale was the title agent.

Keith Marrs, owner of Legend Realty of Farmington, had the listing. Marrs is also the managing member of Eagle Holdings, which acquired the property via mortgagee’s deed in October.

Joe and Brandy Goddard were the previous owners. Goddard bought the lot from GL Resources in May 2006 for $197,000 and built the house that same year.

GL Resources bought the lot for $160,000 in November 2004 from the developer, Bridgewater Estates LLC, composed of Bob, Linda and Jeff Gaddy, builder Mark Foster, attorney Greg Jones, banker John Rownak and real estate executive David Mix.

 

Development Deal

Allison Quinlan, through her Fayetteville-based firm Flintlock Architecture & Landscape, recently paid $350,000 for multiple parcels totaling 1.4 acres in south Fayetteville, at the corner of East South Street and South Mill Avenue.

Mark Porter was the seller.

Fayetteville-chartered Arvest Bank provided financing with a one-year loan of $262,500.

Waco Title Co. of Springdale was the closing agent.

Clark Partners Realty Group of Fayetteville assisted Quinlan with the purchase.

Plans for the site include Fayetteville’s first cottage development and brownstones.

Construction is expected to begin in the spring of 2017.

 

Smoothie Sale

A multi-tenant commercial building is in the works after a recent land sale worth $250,000.

Tran Commercial Property LLC, led by Thuc and Jackie Tran of Bentonville, recently paid $8.08 per SF for a 0.71-acre lot directly north of Zaxby’s restaurant at the northwest corner of Southeast J Street and Southeast Walton Boulevard in Bentonville.

Judy and Bobby Wood were the sellers.

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

Searcy-chartered First Security Bank provided financing with a four-year mortgage of $511,038.

Tran is the local franchisee for Smoothie King, a New Orleans-based chain specializing in smoothies and other nutritional products. Tran has signed an agreement to open five locations in Northwest Arkansas.

Development plans for the property include construction of a 3,038-SF building, which should be complete by early September. Smoothie King will occupy approximately 1,050 SF.

Oelke Construction Co. of Springdale is the builder and Burris Architecture of Rogers is the architect.

Wood bought the lot from George and Martha Hokayem in June 2013 for $188,000.

 

Food Safety Holdings

A 4,969-SF building that was previously a poultry lab operation has sold for $250,000, a purchase price of $50.31 per SF.

Food Safety Net Services of San Antonio paid the University of Arkansas for the building at 3559 N. Thompson St. in Springdale. The single-story building has been vacant for several years.

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

Bob Hill, owner of R.H. Hill Properties of Fayetteville, represented the UA in the transaction.

Zack Kifer with Moses Tucker Real Estate in Fayetteville represented the buyer.

After making capital improvements to the property, Food Safety Net will use the building as a food testing laboratory.