Real Deals: ‘DaVita’ deal in Bentonville tips scales at $2.46 million

by Paul Gatling ([email protected]) 2,628 views 

A medical office building in Bentonville changed hands recently for $2.46 million.

EIG Bentonville LLC bought the 7,933-square-foot building at 1104 S.E. 30th St. EIG is led by Elliott Bay Capital Trust, a privately held real estate investment firm in Seattle, and Equity Investment Group, a real estate investment company based in Fort Wayne, Ind.

Northwest Arkansas Renal Investments LLC, managed by Fred Louis Smardo, was the seller.

Matt Imhoff and Tommy Van Zandt with Cushman & Wakefield/Sage Partners in Rogers marketed the property.

The single-story building was built in 2006 and is triple-net leased with a cap rate of 6.5%. Total Renal Care Inc., a subsidiary of healthcare company DaVita Inc., is the tenant. The existing lease term expires in 2028.

TONTITOWN SALE
Four parcels totaling 7.07 acres along U.S. Highway 412 in Tontitown sold recently for $1.75 million.

Recreational Endeavors Inc., led by Chris Owens and Lee J. Farris, bought the property at 1358 W. Henri De Tonti Blvd.

The Bolek family was the previous owner.

Dave Holland with First National Bank of NWA in Rogers arranged financing and City Title & Closing of Fayetteville was the title agent. Barry Graves and Bob Downum with Cantrell-Griffin Business Brokers in Springdale were the listing agents.

The site includes Wheels Motor & RV Dealership. The business, owned by the Boleks for more than two decades, also transferred to Recreational Endeavors for an undisclosed price.

Graves said Owens and Farris work in the RV business in the Fort Smith metro and have more than 20 years combined experience.

“The new owners will bring fresh energy and new ideas to a changing marketplace in the RV industry,” Graves said. “They will continue to operate with the same personalized customer-first policy and look forward to growing this store to help more customers in Northwest Arkansas.”

Wheels RV has approximately 20 employees who continue under the new owners.

LAKEFRONT HOME
A fully-furnished home on Beaver Lake in Rogers changed hands but remained in the Tyson Foods C-Suite in a deal worth $1.5 million.

Scott and Joanna Spradley bought the 4.11-acre residence on Kilpatrick Road from Noel and Patricia White. Scott Spradley is Tyson Foods’ chief technical officer. Noel White is the company’s chief executive officer.

Arvest Bank backed the deal with a 30-year loan worth $750,000. City Title & Closing was the title agent. Nicky Dou with Keller Williams Market Pro Realty in Bentonville represented the seller. Keith Dixon with Smith & Associates Real Estate Services of Fayetteville represented the buyer.

White paid $1.07 million for the property in May 2018.

The gated residence includes six bedrooms and is approximately 7,700 square feet.

SOUTHGATE SALE
A 4,750-square-foot residence in one of Rogers’ newest gated neighborhoods sold recently for $1.29 million. The purchase price equals $271.57 per square foot.

Marc and Peggy Killebrew bought the 1-acre property in the Estates at Southgate. The neighborhood is across the street from the main entrance to Shadow Valley Country Club. Southgate Designs Group LLC, registered to Nicholas Dozier, was the seller.

Arvest Bank financed the deal and City Title & Closing was the title agent. Lauren Boozman Northey with Portfolio Sotheby’s International Realty in Rogers was the listing agent. The Mayer Team, led by John Mayer, with Better Homes and Garden Real Estate Journey in Bentonville represented the buyer.

Mark Phillips Construction of Rogers built the single-story home.

PINNACLE ABODE
A 4,565-square-foot residence in Phase IV of the gated Pinnacle Country Club neighborhood sold recently for $880,000. The purchase price equals $192.77 per square foot.

Matthew and Sarah Peacey bought the four-bedroom home on West Newhaven Lane. Ken and Gina Plunk were the sellers.

Waco Title Co. of Springdale was the title agent. Quicken Loans provided financing. Sherry Hardie with Coldwell Banker Harris McHaney Faucette in Rogers was the listing agent. Michael Sims with Bassett Mix & Associates in Fayetteville was the buyer’s agent.

The home was built in 2007 and appraised for $939,350 in 2018. Plunk bought the home and 0.58-acre lot in August 2007 from Johnson Home Venture LLC for $965,000. Johnson Home Venture bought the lot in January 2005 from Tallchamps LLC for $119,000.

WOODBROOK RESIDENCE
A renovated residence in Fayetteville came off the market recently in a deal worth $505,000.

Ryan and Laura Kee bought the 3,092-square-foot property on East Woodbrook Drive. The purchase price equals $163.32 per square foot. Mark Zweig Inc. of Fayetteville was the seller.

Arvest Bank provided financing and Lenders Title Co. was the title agent. Dale Carlton Jr., owner of Carlton Realty of Fayetteville, represented the seller. Katie Mihalevich with Flyer Homes Real Estate of Fayetteville represented the buyer.

Zweig paid $250,000 for the four-bedroom home and 0.6-acre lot in 2018. The home was built in 1973 and originally owned by the late John Lewis, a well-known civic leader and known by some as “Mr. Fayetteville.”

‘BUMPER’ BUY
A 6,486-square-foot commercial building in Rogers changed hands in an all-cash deal worth $425,000. The purchase price equals $65.52 per square foot.

Reinboth Lynch LLC, managed by Jeffrey D. Lynch, bought the single-story building at 103 W. Chestnut St. Kenny Comstock and Dan Crouthers were the sellers.

Bumper to Bumper (Crow Burlingame Co.) is the building tenant.

Fred Wanger with Coldwell Banker Harris McHaney Faucette in Rogers represented the seller. CRD Real Estate & Development of Rogers, led by Hannah Cicioni, represented both buyer. PCI Advance Title in Rogers was the title agent.

LEASE ACTIVITY
Steelworx Industrial Group LLC, led by Eric Wright, has agreed to lease an industrial warehouse at 2049 S. Barrington Road in Tontitown.

The lease is for 15,462 square feet.

Wagner Family LP, led by Mick Wagner, is the building owner. The building was built in 1961 and includes six offices, a break room and a common area.

Wade Smith with Colliers International in Rogers represented the landlord in the lease transaction.

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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