Real Deals: Nabholz leading redesign of former Sam’s Club in Springdale
by February 7, 2019 2:30 pm 2,110 views
Nabholz Construction Corp. in Rogers recently paid the city of Springdale for a building permit valued at $11.8 million.
The permit is being used for an interior finish-out of a 130,000-square-foot building at 2008 S. Thompson St. in Springdale, just south of a Walmart Supercenter.
The building is owned by Walmart Inc. and was previously a layout center for Sam’s Club, the retailer’s warehouse club division. Before that, it was a Sam’s Club retail store.
Once the building renovations are complete, approximately 700 Walmart employees who are responsible for handling customer and store calls for the giant retailer will relocate from Bentonville to the new building.
The redesigned facility is expected to open in this spring. The new workspace will include a number of new amenities including a 24-hour associate fitness center, full-service café, training rooms and outdoor patios.
SHOPPES AT SILOAM
A fully leased retail center in Siloam Springs changed owners recently for $6.19 million.
Wobbe Lane LLC, led by Raymond Merrill, bought the 21,596-square-foot Shoppes at Siloam development at 2998 Highway 412 East. The purchase price equals $286.76 per square foot.
Shoppes at Siloam LLC, led by Eric Boen and Jason Kemp, was the seller.
Danville-chartered Chambers Bank provided financing.
Jordan Jeter, a partner with Flake & Kelley Commercial in Springdale, represented the buyer. Harvey Schmidt, a broker with Marcus & Millichap in Philadelphia, Pa., represented the seller.
The 2.93-acre development was built in 2017. Shoppes at Siloam paid $636,000 for the land in 2016.
Simmons Prepared Foods (4,640 square feet) and Newk’s Eatery (4,310 square feet) are anchor tenants. Additional tenants include Pieology Pizzeria, Great Clips, T-Mobile (out-parcel), Matador and Onyx Nail Bar. All leases are triple-net.
The property has a cap rate of 7.43%.
RECREATION CENTER
Ownership of a 120,430-square-foot building in Springdale has changed hands for $4.1 million. The purchase price equals $34.04 per square foot.
The city of Springdale bought the building at 1906 Cambridge St., the former All-Star Sports Arena.
Arkansas Warehouse Group LLC, led by Gary Nichols, was the seller.
Jordan Jeter and Matt Hairston with Flake & Kelley Commercial in Springdale represented the seller. Paul Esterer and Josh Singleterry with Newmark Moses Tucker Partners in Bentonville represented the buyer.
Arkansas Warehouse Group paid $2.3 million for the 2.28-acre development in June 2017. The city plans to use the property as its new recreation center. The parks and recreation department expects to relocate from its existing building on Ash Street within 30 days. That building has been purchased by the Springdale School District for $2.2 million.
WOODLANDS AT CREEKSIDE
A 2.75-acre multifamily development in Bentonville sold recently for $4.05 million.
Osment Investments LLC, led by Ray and Deana Osment of Jonesboro, bought the 50-unit Woodlands at Creekside development at 1900 S.W. A St. The purchase price equals $98.11 per square foot.
SJCSJ Properties of NWA LLC, led by Cliff Cabaness, and Adrian Properties LLC, led by Stephen C. Bradley, were the previous owners.
Signature Bank of Arkansas provided financing with a five-year loan of $3.48 million.
Waco Title Co. of Springdale was the title agent.
Joseph Hayes & Associates with Keller Williams Market Pro Realty in Bentonville was the selling agent.
The three-story development was built in 2015 and appraised in 2017 for $3.37 million. It includes 12 one-bedroom units, 36 two-bedroom units and two three-bedroom units.
HORSEBARN HOLDINGS
A vacant Class A office building on 1.42 acres in the Metro Park North addition west of Interstate 49 in Rogers has a new owner after a recent sale worth $2.43 million.
EH Investments LLC, led by Drs. Don Ewing and Cheryl Hull, bought the 19,692-square-foot building at 597 S. Horsebarn Road. The purchase price equals $123.40 per square foot.
Hatfield Properties, led by Chad and Monika Hatfield, was the seller.
Arvest Bank provided financing with a five-year loan of $2.43 million.
David Erstine and Clinton Bennett with CBRE Northwest Arkansas in Fayetteville were the listing agents.
The two-story building was built in 2006 and appraised in 2016 for $2.38 million.
Hatfield paid $3.05 million for the building in June 2012. The building was previously used as the Benton County vendor office for global manufacturer Mars Inc.
COMMERCE CLAIM
A 10,248-square-foot office building in Bentonville’s Commerce Center office park has sold for $1.09 million.
Retail vendor Polygroup, the building tenant, paid $107.06 per square foot for the building at 303 S.W. 16th St.
Mark R. Schulz, successor trustee of The Norman L. Schulz Trust-Fund B, was the seller.
City Title & Closing of Fayetteville was the title agent.
The single-story property was built in 2000 and appraised in 2016 for $885,950.
The building last changed hands in May 2004 for $1.41 million.
MOBILE HOME INVESTMENT
A 40-unit RV park on 8.28 acres in Siloam Springs recently sold for $800,000.
SGFH Holdings LLC, led by Daniel Hawes, Curt Lynch and Jim Gallagher, bought the Lazy B RV Park at 20912 Three Mile St. Cecil Bell was the seller.
The buyers put $450,000 down and had the seller carry back the remainder with a private note and mortgage.
Hawes, president of Landmark Real Estate & Investment LLC in Fayetteville, was the selling agent. Rick Hawes, his father, was the listing agent.
Liberty Title & Escrow in Fayetteville was the title agent.
The property has annual revenue of $208,000, with annual expenses totaling approximately $65,000.
Of the 8.28-acre site, 5 acres are vacant. The new owners plan to develop the land to add more RV slots, or possibly a self-storage/RV storage facility.