Springdale Industrial Property Sold For $3.6M

by Paul Gatling ([email protected]) 960 views 

Ownership of a 104,250-SF manufacturing and warehouse facility just off U.S. Highway 412 in Springdale has changed hands in a $3.6 million deal.

MCB Associates LLC, an entity controlled by South Coast Baking Co. of Irvine, California, acquired the property at 800 S. 40th St., a purchase price of $34.53 per SF.

Rescue Heroes II LLC, managed by Ivan Crossland Jr., was the seller.

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

South Coast Baking, a wholesale manufacturer of frozen bakery products, produces frozen cookie dough at the facility. It began operations there in the summer of 2014.

The building was built in 1999 on 4.62 acres. Rescue Heroes and Crossland Holding Co. LLC were equal partners when they paid $3.5 million for the property in July 2006. The Anders Family LP was the seller.

Additionally, MCB Associates also purchased an adjacent 4 acres at 894 S. 40th St. in April for $400,000, which equals $2.30 per SF.

Wirewood LLC, managed by William Sweetser and Beverly Graham, was the seller.


Mixed-Use Construction

Crossland Construction Co. in Rogers is using a building permit valued at $2.66 million to build an 11,774-SF mixed-use building on a 2.24-acre commercial lot at the southwest corner of Van Asche Drive and Steele Boulevard in Fayetteville.

JET Enterprises LLC, led by Jody Thornton and Kevin Necessary, is the project developer.
Thornton, the owner of Fayetteville-based restaurant chain JJ’s Grill, said the building will house a restaurant, bar and brewery called JJ’s Beer Garden and Brewing Co., as well as the JJ’s corporate offices.

Crossland is the general contractor.

Gil Newnum with Core Architects of Rogers is handling the design work.

The Bank of Fayetteville is financing the construction.

Engineering services are being provided by Bates & Associates of Fayetteville and Benchmark Group and Tatum-Smith Engineers Inc., both of Rogers.

JET Enterprises bought the land in January for $903,539, a purchase price of $9.26 per SF.


Industrial Sale

A 62,250-SF industrial property in Springdale is now tenant-owned after a $2.25 million sale, a purchase price of $36.14.

R Brothers LLC, led by Randy L. Rudolph, bought the property at 1334 E. Mountain Road.
RPH LLC, led by Andrew P. Henson and William R. Henson III, was the seller.

Wells Fargo Bank N.A. provided financing with a seven-year mortgage of $1.65 million.

First National Title Co. of Bentonville was the title agent.

Rudolph is president of global manufacturer Rockline Industries of Sheboygan, Wisconsin, the building’s tenant. Rockline manufactures wet wipes at its primary Springdale plant across the street at 1583 E. Mountain Road.

1334 East Mountain was built in 2003 and has 46,700 SF of warehouse space and 15,550 of office/showroom space.

The 4.03-acre property was marketed by Marshall Saviers and T.J. Lefler with Sage Partners of Fayetteville.


Hotel Holdings

An investment group led by a privately held hospitality company from Mountain Home is the new owner of a 102-unit hotel west of Bentonville in Highfill.

Magness Hospitality, through its MAM Hospitality LLC, paid $2 million for the 58,016-SF Wingate by Wyndham property at 7400 S.W. Old Farm Road, just north of the Northwest Arkansas Regional Airport. The purchase price equals $19,607 per unit.
Murad “Mark” Mandini and Jeffrey Magness are members of AM&M.

Aero Airport Investors LLC of Texas, led by developer Mike Horn, was the seller.
Integrity First Bank of Mountain Home financed the deal with a mortgage of $2.52 million.

The four-story was built in 2005.


Garrison Road Acreage

A residential transaction involving 86.6 acres five miles west of Interstate 49 in Fayetteville was closed recently for $1.07 million.

Brandon and Miranda Campbell bought the property on John Garrison Road from The Bank of Fayetteville.

Generations Bank in Fayetteville provided financing with a five-year mortgage of $947,500.
Keith Marrs, owner of Legend Realty of Farmington, had the listing.

The property was sold by Amber Parrish with McNaughton Real Estate of Fayetteville.

The property includes a 1,560-SF house built in 1967 situated on a 10-acre parcel.

There are three newer rock structures on the property totaling 13,448 SF, including a 4,475-SF building with completed upstairs apartment.

The bank took ownership in August 2013. W.D. and Lorina Dial were the previous owners.


Haizen Holdings

A 10,922-SF, empty office building off of Southeast 28th Street in Bentonville recently sold for $925,000, a purchase price of $84.69 per SF.

Patrick Byrd, through his Haizen Investments LLC, bought the property at 2700 S.E. G St.
Carthage, Missouri-based manufacturer Leggett & Platt Inc. was the seller.

Signature Bank of Arkansas in Springdale provided financing with a five-year loan of $786,250.
Butch Gurganus of Colliers International in Rogers had the listing.

The single-story building, which has 2,100 SF of storage space, was built in 2000, has a dock and was appraised in 2011 for $790,000.

Byrd will offer T1 improvements and said the property will be leased to market at $14.75 per SF. Gurganus is the leasing agent.


Commercial Building

A vacant commercial building on U.S. Highway 412 west of Interstate 49 in Springdale recently sold for $830,000.

Southern Sand LLC, led by Patrick Harris, paid $110.66 per SF for the 7,500-SF building at 918 W. Henri De Tonti Boulevard.

Michael Efird, through his Northwest Arkansas Tractor Co. LLC, was the seller.

Simmons Bank in Rogers provided financing with a five-year mortgage of $697,000.

Tim Salmonsen, executive broker with Keller Williams Market Pro Realty in Bentonville, represented both sides in the transaction.

Harris is a principal of Allied Plumbing and Drain Service Inc. at 330 Albano Drive in Springdale, and plans to relocate the business to the new building.