Real Deals: Springdale Tractor land changes hands for $3.5 million

by Paul Gatling ([email protected]) 1,466 views 

A 20.5-acre commercial development west of Interstate 49 in Springdale recently sold for $3.5 million.

KNWA RE Springdale LLC, led by president John Scott, bought the Springdale Tractor Co./Kubota property at 6160 W. Sunset Ave. The Eugene Baker Revocable Trust was the seller.

City Title & Closing LLC was the title agent.

Scott is president of Springdale Tractor Co., comprised of six Kubota dealerships in Oklahoma (3) and Arkansas (3). He and two other investors purchased four dealerships in Springdale, Berryville, Harrison and Grove, Okla., in 2012 for an undisclosed amount. Gene Baker, who died June 2, 2012, owned and operated Springdale Tractor for 40 years.

When the Bakers sold the business that year, they kept ownership of the Springdale land and leased it to the new business owners.

“This is our largest store, and we needed to own the property here for long-term stability,” Scott said. “We’ve got room to expand if we decide to do that, but there are no immediate plans to do anything. Other than sell tractors.”

Scott said the Sunset Avenue building is approximately 11,000 square feet. He said the company still leases the land at some of its other dealerships. Since the 2012 acquisition, Springdale Tractor has added Oklahoma dealerships in Pryor and Tulsa.

BENTONVILLE ESTATE
An 11,982-square-foot estate home on 33 acres in Bentonville came off the market recently in a deal worth $2.65 million.

Phillip and Dayna Martz bought the private, gated residence on Northeast McCollum Road from Justin and Juliana Whaley.

City Title & Closing of Fayetteville was the title agent.

The five-bedroom home was built in 1998 and appraised in 2016 for $2.59 million. It includes a two-story foyer with staircase, two-story great room, formal dining room, paneled home office, paneled game room, wet bar, home theater, gym, golf simulation room with wet bar, garage and more.

Outdoor features include a fountain, porte-cochère, patio, saltwater swimming pool with spa, greenhouse and a pond with gazebo.

Whaley bought the property from Martz in October 2014 for $2.6 million.

DOWNTOWN ROGERS
A renovated 16,008-square-foot commercial property in downtown Rogers recently changed hands in a deal worth $2.17 million.

Haute Catacomb LLC, registered to Clint Lazenby, bought the building at 718 N. Second St. The purchase price equals $135.89 per square foot.

Reinboth Lynch LLC, managed by Jeffrey D. Lynch, was the seller.

BancorpSouth Bank in Rogers provided financing and PCI Advance Title in Rogers was the title agent. CRD Real Estate & Development of Rogers, led by Hannah Cicioni, represented both buyer and seller.

Lazenby is a principal of Rogers-based Legacy Retail Solutions. The company will occupy a portion of the single-story building. Other tenants include Java Dudes Coffee, OPP Prototype and Ozark Axe House. The occupancy rate is 90%.

Reinboth Lynch paid $550,000 for the 1.28-acre property in September 2017.

LOWELL LAND
Two commercial lots along Interstate 49 in Lowell recently sold for $2.1 million.

Oklahoma-based Metro Builders Supply Inc. bought the lots at the intersection of North Goad Springs Road and Metro Place, adjacent to the company’s retail store at 801 Metro Place. The lots total 8.95 acres and the purchase price equals $5.38 per square foot.

Brookside Developers of Missouri, led by president DuWayne Eoff, was the seller.

City Title & Closing of Fayetteville was the title agent. Richard Stone with Real Estate and Auction Co. brokered the deal.

Stone said Metro Builders has no development plans for the land and has relisted the two lots for $2.4 million.

CREEKSTONE RESIDENCE
New construction in Phase III of Bentonville’s gated Creekstone subdivision sold recently for $1.03 million.

Donald and Melissa Silvia bought the 6,457 estate on N.W. Serenity Cove. The purchase price equals $161 per square foot. Van Construction Inc. of Bentonville was the seller.

Arvest Bank of Fayetteville provided financing and Springdale-based Waco Title Co. was the title agent. Gay Vandevoir with Absolute Realty represented the seller. Michael Sims with Bassett Mix & Associates of Fayetteville represented the buyer.

LOWELL ESTATE
A custom estate home on 3 acres in Lowell recently sold for $850,000.

Tim Kenny and Katelyn Huddleston bought the 4,367-square-foot residence on East Brown Road. The purchase price equals $194.64 per square foot. Roger and Amanda Song were the sellers.

Arvest Bank backed the deal with a three-year loan of $680,000. City Title & Closing was the title agent.

Jerry Dou with Keller Williams Market Pro Realty in Bentonville represented the seller. Marcus Necessary with Weichert, Realtors-The Griffin Co. in Bentonville represented the buyer.

Roger Song, owner of Luxe Homes & Remodel, paid $90,000 for the land in September 2016. Luxe finished construction of the residence in 2018.

ICE HOUSE HOLDINGS
A commercial investment in downtown Fayetteville’s historic Ice House building tipped the scales at $773,887.

Ice House Holdings LLC, a Kansas company led by Ben Bolan, bought three commercial suites totaling 5,396 square feet at 339 N. West Ave., just off Dickson Street. The purchase price equals $143.41 per square foot. The spaces measure 1,690, 1,730 and 1,976 square feet.

The Ice House LLC, led by Darrick Bradley, was the seller.

Missouri-based Great Southern Bank provided financing, City Title & Closing of Fayetteville was the title agent and Krystal Tronzano with The Brandon Group in Bentonville brokered the deal.

Bolan is president of Sethmar Transportation Inc., which recently opened a Fayetteville office at the Ice House building. Ice House Tattoo and In Motion Clothing occupy the other two suites of the mixed-use building, which also includes several residential units.

Tronzano said the new owners have plans to remodel and make renovations to the commercial spaces, using local contractors including Brian Bailey with Illuminati Signs in Fayetteville and Jesse Weegens with American Estates in Rogers.

Real Deals submissions: Submit tips about lease activity, construction, transactions or upcoming projects valued at $300,000 or more to Paul Gatling at [email protected]. Please write ‘Real Deals’ in the subject line.

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