Commercial Sale in Springdale Hits $8.58 Million
by June 6, 2016 12:00 am 975 views
Two Springdale buildings totaling 232,733 SF on 15.82 acres recently drew an $8.58 million sale, equaling $36.88 per SF.
Fort Worth Partners LLC, led by Edward Hurley, bought the 200,541-SF warehouse building at 979 E. Robinson Ave. and the nearby 32,192-SF office building at 2100 Highway 265.
Collectively, the five-parcel property is known as the Nilfisk-Alto Campus.
FR Net Lease Co-Investment Program 5 LLC was the seller.
Fayetteville-chartered Arvest Bank provided financing with a five-year mortgage of $6.86 million.
Stewart Title Co. in Little Rock was the closing agent.
The property was listed by Sage Partners of Fayetteville and CBRE Dallas.
The property was sold by Jeff Pederson with Lindsey & Associates Inc. of Fayetteville.
The large warehouse is leased to Nilfisk through 2021.
The smaller office building has been leased to Tyson Foods Inc. through 2018.
University Village Sale
A bank-owned commercial building on West 15th Street in south Fayetteville recently sold for $2.25 million, a purchase price of $107.14 per SF.
Fayetteville businessman Mark Zweig is the new owner of the 19,465-SF building in University Village Centre, across the street from Baum Stadium.
Fayetteville-based Signature Bank of Arkansas was the seller, and also financed the deal with a five-year loan of $2.25 million.
Dale Carlton of Fayetteville’s Carlton Realty Inc. represented the buyer.
The building is approximately 40 percent occupied. The University of Arkansas and Edward Jones Financial Advisors are two of the tenants.
The building previously housed City Pizzeria & Salad Co. | City Craft House. Zweig said the vacant space is 4,700 SF and is turnkey ready for a restaurant tenant.
North Church Purchase
A completely renovated downtown Fayetteville home has a new owner after a sale worth $1.12 million.
Bill and Amber Dietrich bought the three-bedroom home on North Church Avenue from Mark Zweig Inc. of Fayetteville.
Integrity First Bank in Fayetteville provided financing with a 15-year mortgage of $900,000.
Dale Carlton of Fayetteville’s Carlton Realty Inc. was the listing agent.
The purchase includes an approximately 3,200-SF residence and 600-SF carriage house apartment.
The original home was built in 1928. As part of the complete renovation, it was gutted to the studs and had two additions.
Zweig paid James George $280,000 for the one-acre property in June 2014.
Rural Land
Three parcels totaling 91.66 acres in Benton County changed hands recently in a deal worth $916,000, equaling $4.35 per SF.
N&J Family Properties LLC, led by Norm Banwarth, bought the land south of the intersection of Haxton and Heagerty roads, west of Arkansas Higway 112.
Highland LLC, led by Cynthia Coughlin, was the seller.
Farm Credit Services of Western Arkansas provided financing with a 30-year mortgage of $698,400.
City Title & Closing LLC of Fayetteville was the title agent.
The land was assembled in December 2002 in an $8.71 million deal totaling 21 parcels and 1,289 acres. That equaled $6.44 per SF.
Lee Harris Farms Inc. was the seller.