Real Deals: New Firestone store in Centerton sells for $3.42 million

by Paul Gatling ([email protected]) 1,279 views 

Agree Stores LLC has purchased a new Firestone Complete Auto Care store in Centerton for $3.42 million.

The automotive service center at 1743 E. Centerton Blvd. was built in 2019 by Concept Development Inc., a Firestone developer based in Florida. The site is 1.05 acres and the building is 6,116 square feet. The purchase price equals $560.39 per square foot.

Firestone is the single-story building’s tenant with a 15-year NNN lease.

Agree Stores is based in Bloomfield Hills, Mich. The company is associated with Agree Realty Corp., which develops, acquires and leases retail sites nationwide for several national brands, including McDonald’s, The Home Depot, Dollar General, CVS and Big Lots.

DOWNTOWN FAYETTEVILLE
Two office buildings totaling 19,000 square feet in downtown Fayetteville changed hands recently for $2.8 million.

Daugherty Commercial LLC, led by Jason Daugherty, bought the buildings at 1 and 5 W. Mountain St. Five West Mountain LLC, managed by John G. Bradberry, was the seller.

Simmons Bank in Fayetteville financed the deal with a five-year loan of $2.38 million.

David Erstine and Hunter Groce with CBRE in Fayetteville represented the seller. Waco Title Co. of Springdale was the title agent.

Combined, the two buildings are 79% leased by multiple office tenants. 1 W. Mountain St., built between 1910 and 1920, is a three-level building (including basement) totaling 8,800 square feet. 5 W. Mountain, built in 2004, is a seven-story building totaling 10,200 square feet. The top four levels are built out as a single-family residence, which is vacant.

WALTON RETAIL
A 10,681-square-foot retail building in Bentonville has a new owner after a recent sale worth $1.07 million.

1301 N. Walton LLC, managed by Matt Sitton, Benjamin Butler, Carrie Butler and B. Shane Perry, bought the single-story building at the same address. Westar Enterprises LLC, managed by Michael McKenzie, was the seller.

The First National Bank of Fort Smith financed the deal with a five-year loan worth $1.34 million. Realty Title & Closing of Rogers was the title agent.

Finnegan’s Wine & Spirits occupies most of the building, which will undergo a renovation. Roughly 1,100 square feet will be available for lease.

SHADOW VALLEY SALE
A 5,170-square-foot residence in Phase VII of the Shadow Valley neighborhood in Rogers sold recently for $689,000. The purchase price equals $133.26 per square foot.

Talia McGowan bought the five-bedroom custom home on West Altamonte Drive from Horton Homes Inc., led by Dean Horton.

Waco Title Co. of Springdale was the title agent. Caliber Home Loans Inc. of Texas backed the purchase with a 30-year loan of $510,400. Paige Ferguson of Coldwell Banker Harris McHaney Faucette in Rogers represented the buyer. EJ Johnson Group with Keller Williams Market Pro Realty of Fayetteville represented the seller.

Horton built the home in 2011, and it appraised in 2019 for $735,500. Horton paid $125,000 for the 0.38-acre lot in December 2010.

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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