Real Deals: Rip Gresham leading Williams Tractor project in Springdale

Two building permits with a combined value of $9.63 million are backing construction of a large-scale retail development along Interstate 49 in Springdale.

Fayetteville-based outdoor dealership Williams Tractor is building a Springdale superstore east of the interstate, south of Don Tyson Parkway.

Rip Gresham Construction of Springdale is the contractor. A $6.92 million permit is backing construction of a 63,856-square-foot building to house the company’s New Holland Agriculture and Bobcat business. A $2.71 million permit is backing construction of a 33,200-square-foot building to house Williams Tractor’s Freedom Power Sports business.

Freedom Power Sports will relocate dealerships from Rogers and Fayetteville to Springdale. The same goes for Bobcat of Northwest Arkansas in Rogers and Williams Tractor dealerships in Fayetteville.

The Williams family and Springdale businessman Gary Tollett own Williams Tractor. They paid $1 million for the Springdale land (20 acres) in March. Signature Bank of Arkansas was the seller.

MATHIAS ACQUISITION
A 4.05-acre commercial property in Fayetteville sold recently for $3.4 million.

Mathias Shopping Centers Inc., controlled by Mathias Properties of Springdale, bought the 49,716-square-foot building at 3053 N. College Ave. The purchase price equals $68.38 per square foot. Waldorf Shopping Mall Inc. of Maryland was the seller.

Bleaux Barnes with Mathias Real Estate of Springdale brokered the deal. Waco Title Co. of Springdale was the title agent.

Harps Food Stores of Springdale will remain the single-story building’s tenant.

BENTONVILLE ESTATE
A 47-acre, European-style estate home in Bentonville changed hands recently for $2.5 million.

Jeffrey and Jodi Bay bought the 15,039-square-foot gated residence on East McNelly Road. The purchase price equals $166 per square foot. Walker Colt LLC, whose members include John Schmelzle and George Westmoreland, was the seller.

Arvest Bank in Bentonville financed the deal, and Waco Title Co. of Springdale was the title agent. Kristen Boozman with Portfolio Sotheby’s International Realty in Rogers was the listing agent. Tyler Isabell with Crye Leike Real Estate in Bentonville represented the buyer.

Construction of the furnished home, led by developer Jim Brassart, was completed in 2008. Walker Colt paid Arvest Bank $1.5 million for the property in July 2011.

The residence includes a 1,200 bottle wine cellar, 100-yard underground shooting range and safe room with a bank vault door.

The property also includes a 4,909-square-foot, six-stall horse barn and a 6,000-square-foot workshop.

BAY CITIES BUY
A 8,027-square-foot vacant office building in Bentonville has a new owner after a sale worth $1.5 million. The purchase price equals $186.86 per square foot.

California-based Bay Cities Container Corp. bought the single-story building at 3607 S.E. Metro Parkway, just off Walton Boulevard. Englander NWA-Metro LLC, led by Marty Englander, was the seller.

Brennan Sharpe and Steve Fineberg with Steve Fineberg & Associates in Bentonville were the listing agents. Ed Belto with Newmark Moses Tucker Partners in Bentonville was the buyer’s agent.

Waco Title Co. of Springdale was the title agent.

Texas-based retail display and packaging company Englander dZignPak was the previous tenant but moved out of the building in early 2020. Packaging Corp. of America paid $56 million to acquire Englander in October 2018.

Bay Cities plans to relocate its Bentonville office on Southwest A Street to the Metro Parkway building.

Englander paid $910,000 for the 1.65-acre property in August 2013.

HEALTHCARE HOLDINGS
A New York-based private investment management firm focused on medical real estate paid $770,576 for a 1.28-acre lot in Centerton. The purchase price equals $13.82 per square foot.

Seavest Healthcare Properties bought the land at 1580 E. Centerton Blvd. (Arkansas Highway 102). The lot is west of the intersection with Tater Black Road. The Patton Family Revocable Trust was the seller.

A three-year, $5.82 million loan arranged through John Morris with Simmons Bank in Fayetteville backed the deal. Waco Title Co. of Springdale was the title agent.

Morris said Seavest did not want to disclose details of the project until a later date.

‘LA HA’ LAND
A 1.4-acre commercial lot on Arkansas Highway 112 (Southwest Regional Airport Boulevard) in Bentonville changed hands recently for $600,000. The purchase price equals $9.84 per square foot.

La Hacienda LLC, registered to attorney Robert Klock, bought the property from Tollett Wood LLC, whose members include Todd Wood. The lot is near the Southwest F Street intersection, near The Pointe Bentonville apartment complex.

City Title & Closing was the title agent.

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.