A 10,093-square-foot estate in Fayetteville’s gated Ridgewood neighborhood changed hands recently for $1.47 million. The purchase price equals $146.14 per square foot.
Barry and Tia Odom bought the property on North Bentwood Lane from Richard and Julie Roblee. The University of Arkansas hired Barry Odom this past December as an assistant coach (defensive coordinator) for the Razorback football team.
Arvest Bank provided financing with a 30-year loan of $1.32 million. Meza Harris with Lindsey & Associates represented the buyer and the seller. Realty Title & Closing was the title agent.
The six-bedroom residence sits on 3.59 acres. It was built in 1996 and appraised last year for $1.42 million.
SOUTH FAYETTEVILLE SALE
A 15,094-square-foot commercial property in south Fayetteville sold recently for $1.2 million. The purchase price equals $79.50 per square foot.
Ridgecrest LRAR LLC of California bought the two-building development at 1153 S. School Ave. Berman Delaware Properties LLC, led by Joseph H. Berman, manages Ridgecrest. M.G. and B.J. Price Family LLC, managed by Mike Price was the seller.
Partners Bank in Helena backed the deal with a five-year loan worth $789,499. Jordan Jeter with Kelley Commercial Partners in Springdale represented the buyer. City Title & Closing of Fayetteville was the title agent.
The buildings consist of 4,800 square feet and 10,294 square feet and are 100% occupied. Tenants include Rick’s Iron Skillet, Big Al’s Pawn Shop, El Amanecer Market, Tobacco Outlet and Advantage 1 Auto Insurance.
The 1.18-acre property last changed hands in August 2007 for $1 million.
KUM & GO DEVELOPMENT
A national retail chain is planning a new development along U.S. Highway 62 in Rogers following a real estate deal worth $675,000.
Iowa-based Kum & Go bought three parcels totaling 2.31 acres from Pine Bluff-based Simmons Bank. The property at 200 W. Hudson Road (Highway 62) includes a 3,552-square-foot building, an empty bank branch, plus an adjacent 1.2-acre lot that’s vacant.
David Erstine with CBRE in Fayetteville represented the buyer. Wade Smith with Colliers International in Rogers represented the seller. Waco Title Co. was the title agent.
The existing structure on the property will be razed and a new convenience store built. Erstine said an adjoining 0.37-acre property at 204 W. Hudson Road is part of the development. That deal closed separately for $300,000. Greg and Donna Henry were the sellers. The property includes a 2,000-square-foot structure that will be razed. It previously housed a business called The Radiator Shop.
Priority Global Express Inc. signed a lease to occupy a 24,144-square-foot building at 416 W. Stribling Drive in Rogers.
CFKS Investments LLC, registered to Springdale attorney Jeb Joyce, is the building owner. Wade Smith with Colliers International in Rogers represented the tenant. Clinton Bennett with Bennett Commercial Real Estate in Fayetteville represented the landlord.
The building includes approximately 4,517 square feet of office space and 19,483 square feet of warehouse space.
CFKS paid $975,000 for the 3.5-acre property in January. The Peter Martin Coco Revocable Trust was the seller.