Walmart Land Purchases Add Up to $3.75 Million (REAL DEALS)

Wal-Mart Stores Inc. added to its real estate holdings in Bentonville recently with two separate land purchases totaling $3.75 million.

The company acquired a 3.19-acre tract at 1909 S.E. Eighth St., adjacent to a Walmart Distribution Center, for $2.05 million. The purchase price equals $14.75 per SF.

The Fleeman Family LP II, with John Withey as the registered agent, was the seller.

The property, across the street from Walmart Realty, contains multiple, small structures and was formerly the site of Terre Vista Landscapes.

Walmart also purchased three lots totaling 2.61 acres for $1.70 million, a purchase price of $15.03 per SF.

Robert J. Reis and his wife, Sun Lee, of Little Rock were the sellers.

The property runs along Arkansas Highway 72, west of Congregation Etz Chaim at the intersection of Southeast Moberly Lane.

Steve Fineberg, owner of Steve Fineberg & Associates of Bentonville, had the listing.

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

Northwest A Property

A 3,582-SF residence and approximately 45 acres in Bentonville has registered a sale worth $3.17 million.

C Street Properties LLC, a Delaware corporation controlled by the Walton family, bought the home on Northwest A Street, just south of the Hidden Springs neighborhood.

The two-story residence was built in 1984 and sits on a 40-acre tract. The purchase also included an adjacent 5-acre tract on Melody Lane.

Mary Shores was the seller.

Apartment Acquisition

A 72-unit apartment complex in Springdale just east of U.S. Highway 71B recently sold for $2.4 million, a purchase price of $33,333 per unit.

Zheng Lin LLC, led by Jian Fei Lin, bought the 3.8-acre Arbors Apartments at 604 Oak Ave.

Casa Americana Inc., led by Linda Parnell, was the seller.

Arvest Bank of Fayetteville provided financing with a three-year, $1.9 million mortgage.

Waco Title Co. of Springdale was the title agent.

The most recent appraisal for the 40,170-SF development was $1.83 million.

Parnell paid $1.56 million for the property in January 1999. Leon and Kathryn Edens were the sellers.

Township Property

An 18,904-SF, multi-use building in Fayetteville has a new owner after a recent sale worth $1.92 million, which equals a purchase price of $101.83 per SF.

The Blakely James Elder Revocable Trust, which lists Kerri Elder as the trustee, bought the building at 216 E. Township St.

Keating Joint Venture LLC was the seller.

First Western Bank in Rogers provided financing with a five-year loan of $1.54 million.

Lee Ward with Realty Concepts Inc. of Fayetteville had the listing.

Elder plans to convert approximately 7,000 SF into a mixed media production facility with cyclorama walls, sound booth, production offices, video equipment and state of the art post-production editing facility.

The space was previously occupied by Boingo Bounce LLC.

The rest of the building is occupied by office tenants and two, upscale loft apartments, both leased.

The building was built in 2006 and its most recent valuation from Washington County appraisers is $1.45 million.

Keating acquired the 1.58-acre site in August 1999 for $219,000.

Township Residence

A 5,099-SF residence on Fayetteville’s east side recently sold for $825,000, a purchase price of $161.79 per SF.

Ted and Kathleen Wade bought the home on Township Street from University of Arkansas athletics director Jeff Long and his wife, Fanny.

Fayetteville lender Signature Bank of Arkansas provided financing with a one-year mortgage of $701,250.

Jana-Wrenay Heck with Lindsey & Associates of Fayetteville had the listing.

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

The four-bedroom home was built in 2008 on a 1-acre lot and has a most recent assessment of $734,650.

Long bought the property in February 2008 for $800,000. Caddyshack LLC, led by Michael Britt and Aaron Osborne, was the seller.

Champions Abode

A 4,075-SF home in the Champions Golf and Country Club addition inside Pinnacle Country Club recently sold for $900,000, or $220.85 per SF.

Brian and Sara Hillins bought the Champions Boulevard home from Kirk and Lauranne Morgan.

Sirva Mortgage Inc. provided financing with a 30-year loan of $600,000.

Meza Harris with Lindsey & Associates in Rogers had the listing.

Jerry Dou with Keller Williams Market Pro Realty in Bentonville represented the buyer.

The four-bedroom home was built in 2014. Morgan bought the property in December 2014 for $841,000.

Ericson LLC, led by Lance Johnson, was the seller.

Ericson bought the 0.29-acre lot in June 2014 from Sherry Davis for $140,000.

Davis acquired the land in April 2011 for $88,000. Arvest Bank of Fayetteville was the seller.

Summersby Sale

A 4,352-SF home in Fayetteville’s Summersby neighborhood has a new owner after an off-market sale worth $615,000, a purchase price of $141.31.

University of Arkansas athletics director Jeff Long and his wife, Fanny, bought the home on North Amberwood Lane.

UA golf coach Brad McMakin and his wife, Tonia, were the sellers.

Arvest Bank of Fayetteville provided financing with a 15-year mortgage of $417,000.

Waco Title Co. of Springdale was the title agent.

The single-story home was built in 2006 and has a most recent appraisal of $531,900.

McMakin was deeded the property for $0 in September 2015.

Laurence and Joyce McMakin bought the property in November 2006 for $650,000. Ashley and Allyson Patrick were the sellers.

Centerton Land

Undeveloped pasture land in Centerton has changed ownership for $500,000.

SVB Holdings LLC, managed by Bapuji and Suchitra Vakkalagadda, bought 40.6 acres at the northwest corner of Kimmel and Greenhouse roads. The purchase price equals 28 cents per SF.

Thomas and Joan Beyette were the sellers.

Waco Title Co. of Springdale was the title agent.

Fayetteville-based Signature Bank of Arkansas provided financing with a loan of $330,229.