Serco-leased property in Rogers sells for $6.5 million
by January 21, 2019 1:10 pm 2,414 views
Serco Inc. is the primary tenant of the building at 710 W. Roselawn Drive in Rogers.
The sale of a 59,142-square-foot office building in Rogers tipped the scales at $6.5 million. The purchase price equals $109.90 per square foot.
A limited liability company managed by Josh Kyles, a principal of Bentonville firm Kyleton Real Estate Group, is the new owner of the three-story brick building at 710 W. Roselawn Drive.
Transamerica Life Insurance Co. of Iowa was the seller.
Waco Title Co. of Springdale was the title agent.
Searcy-based First Security Bank provided financing with a five-year loan of $5.2 million.
Marshall Saviers with Cushman & Wakefield/Sage Partners in Rogers and Brian Saal with Jones Lang LaSalle (JLL) in Washington, D.C., marketed the property for the previous owner.
The building was built in 2005, renovated in 2013 and appraised in 2018 for $8.86 million. The building has been fully leased to Serco Inc. since 2013. Serco was awarded a $1.3 billion contract in July 2013 from the U.S. Department of Health and Human Services (HHS) to manage the implementation of the Patient Protection and Affordable Care Act.
The 8.5-acre property in Rogers has about 1,500 Serco employees and is one of four facilities across the country the company uses to service the contract.