Rogers industrial property changes hands for $3.66 million

by Paul Gatling (pgatling@nwabj.com) 353 views 

A 218,944-square-foot industrial property in Rogers recently changed hands in a deal worth $3.66 million, equal to $16.74 per square foot.

Breeden Robinson LLC, which lists Darrell Robinson and Larry Breeden as members, bought the office/warehouse property at 1315 N. 13th St.

First State Bank of Lonoke, Cross County Bank of Wynne, Central Bank of Little Rock and Pinnacle Bank of Rogers were the previous owners of the 16-acre property.

Simmons Bank of Pine Bluff provided financing with a seven-year, $2.46 million mortgage.

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

Marshall Saviers with Sage Partners in Fayetteville represented the buyer and seller.

The property has approximately 70,000 square feet that is available for lease. Ozark Liquidation Services and EcoVet Furniture are the building’s tenants.

 

Bella Vista Commercial

A 1.95-acre commercial development along U.S. Highway 71 in Bella Vista has a new owner after a $1.8 million sale.

Casa Americana Inc. of Fayetteville, led by Linda Parnell, is the new owner of the 15,375-square-foot building at 2836-2852 Bella Vista Way, a purchase price of $117.07 per square foot.

Best Choice Holdings LLC of Springdale, led by Robert Norman, was the seller.

The Bank of Fayetteville, a subsidiary of Farmers & Merchants Bank of Stuttgart, provided financing with a three-year, $900,000 mortgage.

Capital Abstract & Title Co. of Rogers was the title agent.

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

Jaleta Boyd with Premier Properties Real Estate in Springdale was the selling agent.

The single-story building was built in 1994 and appraised this year for $1.23 million.

Best Choice bought the building in March 2009 for $2 million.  NSB Enterprises LLC, led by Aaron and Rebecca Burkes, was the seller.

The building has 3,500 square feet available, but a retail tenant has signed a five-year lease agreement to occupy the space, which will give the property 100% occupancy. The space should be occupied by the end of the year.

 

Deane Street Townhomes

Fayetteville home builder Booth Building & Design, led by Benjamin and Cassie Booth, recently purchased four building permits from the city of Fayetteville for a combined $1.44 million.

The permits are being used to build four duplex buildings at the intersection of Deane Street and Sang Avenue, north of West Wedington Drive.

Each building will include two 1,600-square-foot units with four bedrooms and a two-car garage. Amenities of the Craftsman-style units include stainless steel appliances, hardwood floors and a private patio

Pine Bluff-based Simmons Bank is providing financing.

The developer is NMK LLC, whose members include Benjamin Booth and T.J. Lefler.

The development is called Deane Street Townhomes and is scheduled for completion in summer 2017. Lease rates have not been determined.

NMK bought the land in March for $200,000. Restored Real Estate LLC, led by Wayne Hudec, was the seller.

 

Champions Residence

A 4,705-square-foot residence in the Champions Golf and Country Club addition inside Pinnacle Country Club in Rogers recently sold for $1.15 million, a purchase price of $245.69 per square foot.

Tony and Tahni Rogers bought the five-bedroom home on West Champions Boulevard from HB Investments LLC, led by Jay Howard.

Arvest Bank of Fayetteville provided financing with a five-year mortgage of $1.15 million.

Waco Title Co. of Springdale was the title agent.

HB Investments paid $570,000 for the property in August 2015, then started a down-to-the-studs renovation. Brenda Frankenfield Riney Revocable Trust was the seller.

The home was built in 1992 and appraised this year for $610,500.

 

Bellafont Buy

FFEC Real Estate LLC, led by Michael Waggoner and Icem Brewer, has picked up a 20-year, $1.08 million mortgage from Arvest Bank in Rogers.

The funding agreement is tied to a 1.17-acre site on East Rainforest Road in Fayetteville’s Bellafont Office Park addition.

According to Washington County real estate records, FFEC paid $250,000 ($4.91 per square foot) for the land, just south of Joyce Boulevard. Jet Ventures LLC, led by Kyle Naples, was the seller.

The land previously changed hands in December 2014 for $175,000 and in March 2015 for $220,000.

Waggoner and Brewer are principals of Focused Family Eye Care in Fayetteville. They plan to relocate the business to a new building at the site.

FFEC is now in leased space in the Kantz Center mixed-use development near the intersection of Mission Boulevard and Crossover Road.

 

Valley View Sale

A 7,500-square-foot estate home on 2.01 acres in Springdale has a new owner after a recent sale worth $917,000.

Robert Dickerson and Aron Smith bought the five-bedroom home on Valley View Drive for $122.26 per square foot.

Monte Johnston and Brooke Johnston were the sellers.

Bear State Bank N.A. of Little Rock provided financing with a 30-year mortgage of $417,000.

Meza Harris with Lindsey & Associates in Rogers was the listing agent.

 

Downtown Bentonville

New residential construction west of downtown Bentonville recently sold for $715,000, a purchase price of $222.74 per square foot.

David LeVan bought the 3,210-square-foot home on Southwest Third Street from CHP LLC, led by Powell McKinney.

Ohio-based Sirva Mortgage Inc. provided financing with a 15-year mortgage of $417,000.

Waco Title Co. of Springdale was the title agent.

The four-bedroom home, built by Marrs Development LLC of Bentonville, was listed by Natalie Edwards with Coldwell Banker Harris McHaney Faucette in Bentonville.

 

Commercial Sale

A 9,871-square-foot commercial building in Lowell has a new owner after a $680,000 sale, a purchase price of $68.88 per square foot.

Ragar Holdings LLC, led by Charles and Amanda Ragar, bought the building at 223 Monroe St.

Take Us For Granite Inc., led by Shelley Simpson, was the seller.

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

The building includes 4,503 square feet of retail/showroom space and 5,368 square feet of light industrial/warehouse space. It also includes a 12-foot overhead door, private office and kitchenette.

The property is fully occupied by two tenants — Take Us For Granite and TK Martial Arts Academy.

The single-story building was built in 2005 and appraised this year for $585,250.

Simpson bought the land (0.86 acres) in October 2003 for $85,000.

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