Real Deals: Missouri developer buys Rogers land for $3.44 million

by Paul Gatling (pgatling@nwabj.com) 684 views 

A Springfield, Mo., multifamily developer completed two separate land purchases in Benton County totaling 18.96 acres for a combined $3.44 million. The purchase price equals $4.16 per square foot.

Bryan Properties paid $1.2 million for 11.05 acres just off South 28th Street, west of Interstate 49 in Rogers. The seller was Great Southern Bank, which also provided financing.

Bryan Properties paid $2.23 million for two lots totaling 7.91 acres in The Farms commercial addition along South Promenade Boulevard in Rogers. EF Capital AR LLC was the seller, and Arvest Bank provided financing.

Philip Schmidt, a partner with Flake & Kelley Commercial in Springdale, represented the buyer in the EF Capital deal.

City Title & Closing was the title agent for the EF Capital transaction. Waco Title Co. was the title agent for the Great Southern Bank deal.

PINNACLE RESIDENCE
A 7,862-square-foot estate home in Phase IV of the gated Pinnacle Country Club neighborhood in Rogers has sold for $1.57 million.

Matthew Mitchell and Michelle Canode, trustees of the 62 Buckingham Trust, acquired the residence on West Buckingham Drive.

Chris and Morgan Chandler were the sellers.

Legacy National Bank of Fayetteville backed the deal with a 30-year loan of $1 million. City Title & Closing of Fayetteville was the title agent. The property was marketed by Portfolio Luxury Real Estate of Rogers.

The five-bedroom home was built in 2008 and was appraised this year for $1.45 million.

Chandler paid $1.75 million for the 0.88-acre residence in October 2011.

DARE DEVIL DEAL
A 6,536-square-foot commercial building in Bentonville is now tenant owned after a recent sale worth $882,500.

Meltopia LLC, managed by Scott and Kris Melton, bought the single-story building at 310 N. Walton Blvd.

2006 GBR LLC, whose members include Russell Richardson, was the seller.

Commercial lender James Brookhart of Arvest Bank arranged financing with a 20-year, SBA 7(a) loan worth $895,000.

Mercury Title LLC in Rogers was the title agent.

The building tenant is Dare Devil Display LLC. The Meltons own the business, which designs and manufactures product displays for various retailers.

HOGEYE HOLDINGS
Bank-owned land in Washington County recently changed hands for $600,000.

Cliff Slinkard, through his Hogeye II LLC, paid $1.20 per square foot for 11.5 acres on the south side of Arkansas Highway 62 in Farmington, at the intersection of Bethel Blacktop Road.

First State Bank of Lonoke was the seller. Waco Title Co. of Springdale was the title agent.

The pasture land is currently zoned for agricultural use. It includes a 35-by-100 metal building.

INDUSTRIAL PROPERTY
An 8,300-square-foot industrial property in Lowell is off the market after a $575,000 sale. The purchase price equals $69.27 per square foot.

Fishing Bridge Investments LLC, led by Greg Brown, bought the 1.53-acre property at 814 S. Bloomington St. Shaw Material Real Estate Investments LLC, led by Richard Shaw, was the seller.

Signature Bank of Arkansas provided financing with a five-year loan of $488,750.

City Title & Closing LLC of Fayetteville was the title agent. Commercial real estate agency Steve Fineberg & Associates of Bentonville was the listing agency.

The single-story building was built in 1998 and last appraised in 2016 for $400,100.

Shaw paid $250,000 for the property in 2001.

Comments

comments