Real Deals: Flintco leads construction of Rogers’ 16th elementary school

Flintco Inc. in Springdale is using a building permit valued at $15.81 million for a 25-acre project at 3131 W. Garrett Road in Rogers.

Rogers Public Schools is the land owner and developer. The project is an 89,600-square-foot elementary school. Flintco is the general contractor. Justin Spafford is the project manager. Crafton Tull of Rogers is the site engineer. Hight Jackson Associates of Rogers is the designer.

Construction is scheduled to be complete in time for the start of the 2019-2020 school year. It will be Rogers Public Schools’ 16th elementary school.

Multifamily Acquisition
A 192-unit multifamily development in Springdale recently sold to tenant-in-common (TIC) investors from California for $11.25 million, a purchase price of $58,593 per unit.

Canyon View Capital Inc. of Santa Cruz bought the Springdale Ridge apartment complex at 750 S. 40th St. Springdale Ridge Acquisition LLC of North Kansas City, a private investment group led by David L. Wilson, was the seller.

Grandbridge Real Estate Capital LLC of Charlotte, N.C., provided financing with a seven-year loan of $8.43 million. Waco Title Co. of Springdale was the title agent.

The property was 90.8% occupied at the time of the sale.

Commercial Land
A commercial lot near a busy intersection in Rogers recently changed hands twice for a combined $2.16 million.

Three LLCs who organized a tenants-in-common partnership — Hwy 248 Group LLC (50%), Kantz Investments LLC (25%) and Keen Management LLC (25%) — paid $850,000 for the 6.49-acre lot at 310 S. 45th St., east of the Interstate 49/Walnut Street exit. The land is situated east of Outback Steakhouse. Bentley Investments of Nevada LLC was the seller.

On the same day, according to property records, the tenants in common partnership sold the land to Steven and Kellye Smith for $1.31 million. City Title & Closing LLC of Fayetteville was the title agent in both deals. Benton County appraisers valued the land last year at $2.27 million.

Talamore Address
A 4,934-square-foot estate home and 786-square-foot detached guest home in Phase IV of Bentonville’s Talamore neighborhood recently sold for $765,000. The purchase price for the two homes equals $133.74 per square foot.

James and Jerri Meier were the buyers and Susan Boswell was the seller of the five-bedroom home on Talamore Boulevard. Premia Relocation Mortgage in Michigan provided financing with a 15-year mortgage of $265,000. Jan Holland with Coldwell Banker Harris McHaney Faucette in Bentonville was the listing agent. Mercury Title LLC in Fayetteville was the title agent.

The home was built in 2005 and appraised in 2016 for $874,450. Boswell bought the 3.18-acre property in June 2010 for $759,000. Jeff and Pamela Mortensen were the sellers.

Multitenant Building
A 1-acre commercial development in Springdale has changed hands for $750,000.

Taylor King Enterprises LLC, led by King, acquired the 8,056-square-foot building at 408-410 N. Thompson St., at the southwest corner of Huntsville Avenue. Marvin and Patsy Walker were the sellers.

Bank of the Ozarks of Little Rock provided financing with a five-year loan of $637,500. Griffin Company Realtors Commercial Division in Springdale was the listing agency. First National Title in Fayetteville was the title agent.

The multitenant building is divided into a 2,200-square-foot restaurant and a 5,856-square-foot retail space that are income producing. King said after a remodel of the building, he will relocate his law practice to the building. The restaurant will remain the same, and the remaining space will be divided – 2,856 square feet for retail and 3,000 square feet for his office.

Taylor King Law opened five years ago in Springdale at 808 W. Sunset Ave. and has four lawyers and five staff members. There are also locations in Arkadelphia, Jonesboro, North Little Rock and Fort Smith. Another location will open soon in downtown Little Rock.

Historic Abode
A 3,077-square-foot home and 598-square-foot separate entrance studio apartment in Fayetteville’s Washington-Willow Historic District recently sold for $629,000, a purchase price of $171.15 per square foot.

Robert and Amy Boyd bought the four-bedroom home on North Washington Avenue from Deane and Melissa Thomey. Generations Bank provided financing with a 30-year, $300,000 loan. Carmen Hennelly with Coldwell Banker Harris McHaney Faucette in Fayetteville was the listing agent. Waco Title Co. of Springdale was the title agent.

Thomey bought the property in September 2012 for $417,000. The Tommy Curtis Daniel Trust was the seller.

Downtown Springdale
A trio of buildings in downtown Springdale recently sold for $775,000.

Jennifer Hansen is the new owner of commercial buildings at 101, 109 and 111 W. Emma Ave. The buildings are a combined 12,336 square feet, making the purchase price $62.82 per square foot. Downtown Blend LLC, led by Rob Kimbel and Don Streubing, was the seller. First Security Bank in Springdale provided financing and Waco Title Co. of Springdale handled the closing.

Zack Kifer with Moses Tucker Partners in Fayetteville represented both sides in the transaction and will continue to handle the leasing for the new owner. Downtown Blend paid $1 million for three buildings in September 2015.

101 W. Emma is a single-story building that’s vacant. 109-111 W. Emma are connected and two stories. A barber shop occupies space in the 109 building. Law firm Davis, Clark, Butt, Carithers & Taylor PLC is at 111 W. Emma.
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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.