A&M Railroad Secures Warehouse Expansion for $3M (REAL DEALS)

The Arkansas & Missouri Railroad in Springdale has added to its holdings with a $3 million purchase.

The 25.57-acre site is at 200 E. Highway 264, west of the railroad tracks near the intersection with North Oak Street.

Haley Properties LLC of Springdale, led by James Glen Haley, was the seller.

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

The site includes three buildings totaling 50,844 SF. It will be used as an A&M transmodal facility.

 

Highway 12 Development

Undeveloped acreage along Arkansas Highway 12 in Bentonville recently sold for $1.75 million.

John Lykins and Daniel Duncan, through their Bentonville BOS LLC, bought two tracts totaling 22.14 acres (12 and 10.14), a purchase price of $1.81 per SF.

The land is separated by Southwest Morning Star Road, north of Highway 12.

BOS Park LLC, led by Raymond Merrill, R. Carlile Roberts and Charles G. Parlmer, was the seller.

Grand Savings Bank in Bentonville provided financing.

Lykins said large-scale development plans have been approved for two buildings, each approximately 11,000-SF. One will be for mixed retail use, and the other will be for vendor offices.

They will be built on the 12-acre parcel to the west of Morning Star, near a Kum & Go development.

Landcon Construction & Development of Centerton is the contractor.

Risley & Associates of Fort Smith is handling the design work.

Lykins said there are no immediate plans for the 10.14-acre parcel to the east of Morning Star Road.

 

Apartment Acquisition

A 16-unit apartment complex in Springdale recently sold for $1.15 million.

KJune Properties LLC, led by Kerri Elder, bought the property at 1204 N. Pleasant St., just west of the intersection of Backus Avenue and North Thompson Street.

Jim Bryan, through his First Story LLC, was the seller.

First Western Bank in Rogers provided financing with a mortgage of $977,500.

Daniel Hawes of Landmark Real Estate & Investment LLC of Fayetteville was the listing agent.

Colby Ward with Realty Concepts of Fayetteville was the selling agent.

The development is 100 percent leased. Apartments are 960 SF and have three bedrooms and two bathrooms.

The property has an additional 780-SF residence that is also leased. 

 

Clear Creek Residence

A 6,376-SF home in the Clear Creek neighborhood in Johnson recently sold off-market for $1.59 million, a purchase price of $250.15 per SF.

Monica and Thomas McGurk paid William and Cheryl Lester for the residence on Prestwick Circle.

Quicken Loans Inc. provided financing with a 30-year mortgage of $1.25 million.

Mary Bassett with Bassett Mix & Associates of Fayetteville was the selling agent.

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

Lester paid $1.45 million for the house in September 2013. Tim and Mary Elizabeth Brooks were the sellers.

Brooks paid $250,000 for the 1-acre lot in September 2004. McMahon Brothers Construction Inc. was the seller.

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.