Real Deals: Tulsa contractor builds Rogers church with $7.5 million permit

by Paul Gatling (pgatling@nwabj.com) 891 views 

Tulsa, Okla.-based contractor CBCI recently paid the city of Rogers for a commercial building permit valued at $7.51 million.

The permit is being used to build a 37,377-square-foot building at 5350 S. 28th St. in Rogers, west of Interstate and north of the Southern Hills Business Park.

Edmond, Okla.-based Life Church, which has 30 locations in nine states, will be the building tenant. The church bought the 9.9-acre site last year for $2.5 million, which equals $5.75 per square foot. JK Properties of NWA LLC, managed by Ken Nguyen, was the seller.

Small Architects of Edmond is the building architect.

HUDSON ROAD INVESTMENT
A 15-acre commercial site in Rogers rang up a $3.1 million sale.

Rick and Robin Whitten, through their R and R Land Company LLC, bought the property at 1100 W. Hudson Road.

Rainbow Land Company LLC, managed by Wendy Togami, was the seller.

Waco Title Co. of Springdale was the title agent.

Central Bank in Bentonville provided financing with a one-year loan of $3.1 million.

Alan Cole of Colliers International in Rogers represented the seller. Jim W. Smith of Transaction Realty in Fayetteville represented the buyer.

The property includes five buildings totaling 42,032 square feet on 6.5 acres. Motorcycle, marine and ATV dealerships Rainbow Cycle & Marine and Rainbow Honda Powersports, which are owned by the Whittens, occupy all the buildings, which include storage, workshop, showrooms and office suites. The adjacent 8.5 acres is undeveloped.

Both the buildings and land are located within an Opportunity Zone in Rogers.

The dealerships remain open following the transaction.

APARTMENT ACQUISITION
A 40-unit apartment complex in Springdale changed hands for $1.65 million. The purchase price equals $41,250 per unit.

C&K Harrington LLC, controlled by Summit Property Management of Springdale, bought the 3.99-acre Raintree Village development at 1509 S. West End Ave.

Raintree Village LLC, managed by Charles G. Palmer, was the seller.

The First National Bank of Fort Smith backed the deal with a five-year loan worth $1.1 million.

The two-building development was built in 1980.

PEA RIDGE LAND
Two deals totaling 61.3 acres in Pea Ridge closed recently for a combined $1.62 million.

Winter Park Partners LLC, managed by Tom Seay, paid $1.3 million for 55.5 acres on Hazelton Road, north of Arkansas Highway 72. The purchase price equals 53 cents per square foot. R&R Gregg Street Partners, whose members include Russ Plumley and Rick Woods, was the seller.

Winter Park also paid $325,000 for an adjoining 5.82-acre residential property on Hazelton Road. The estate of Brently Bone was the seller.  The property includes a 2,467-square-foot residence built in 1999 and two storage buildings.

Team Nina Clare and Dave with RE/MAX Real Estate Results in Bentonville was the listing agent for the Bone property.

Arvest Bank provided financing with a three-year loan worth $2.88 million.

Waco Title Co. of Springdale was the title agent.

POPEYES PROPERTY
Two land deals in Benton County totaling $1.48 million are paving the way for new restaurant development.

Whisinvest Realty of Little Rock, which is represented in Northwest Arkansas by Burke Larkin, sold a 1.1-acre lot on West Pleasant Grove Road in Rogers, east of Smoothie King, for $718,740. The purchase price equals $15 per square foot.

A limited liability company controlled by developer Rich Richardson of Springdale sold a 1.4-acre lot on East Centerton Boulevard in Centerton, north of Watercolors of Centerton Apartments, for $770,000. The purchase price equals $12.62 per square foot and Jordan Jeter with Flake & Kelley Commercial in Springdale represented the seller.

The buyer in both transactions is a franchisee for Louisiana-based fast-food chain Popeyes Louisiana Kitchen Inc.

OAK TREE RESIDENCE
New construction in Centerton’s gated Oak Tree neighborhood recently sold for $725,000.

Brent Duersch and Jennifer DePalma-Duersch bought the 4,444-square-foot residence on Oak Tree Drive. The purchase price equals $163.14 per square foot.

Split Tens LLC of Farmington, registered to Matt Hicks, was the seller.

Realty Title & Closing of Rogers was the title agent.

Limbird Real Estate Group of Rogers was the listing agent.

Centerton-based JSN Properties of NWA, owned by Jeremy and Shasta Neisler, was the homebuilder.

Split Tens paid $90,000 for the 0.62-acre lot in February 2018. Homes of Distinction Inc. of Bentonville was the seller.

THE BLUFFS ABODE
A recently remodeled home in The Bluffs neighborhood in Bentonville came off the market for $720,000.

Mark Crowe bought the 6,311-square-foot home on Palisades Circle. The purchase price equals $114.09 per square foot.

David Scott and Keisha Scott were the sellers.

Waco Title Co. of Springdale was the title agent.

The EJ Johnson Group was the listing agent, and Gary Johnson with the Ruby Poole Team was the selling agent. Both Realtors work for Keller Williams Market Pro Realty in Bentonville.

The four-bedroom home was built in 2006 and was assessed in 2018 for $788,750.

Scott paid $670,000 for the 0.90-acre property in June 2014.

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