Real Deals: Rogers office building purchase registers $6 million

Northwest Arkansas

by Paul Gatling ([email protected]) April 8, 2021 9:55 am 1,836 views 

A fully-leased Class B office building in the Metro Park complex west of Interstate 49 in Rogers has a new owner after a $6 million sale.

12M Commercial Properties, led by Oklahoma investor Raymond Merrill, bought the 28,480-square-foot building at 600 S. 52nd St. The purchase price equals $210.67 per square foot. Rogers Coliseum 52 Street LLC, a Delaware-registered entity whose members include Michael Sachs, was the seller.

Paragould-based First National Bank provided financing with a five-year loan worth $5.1 million.

Wade Smith and Tom Rystrom with Colliers International in Rogers represented the buyer. Marshall Saviers and Matt Imhoff with Cushman & Wakefield/Sage Partners in Rogers represented the seller.

The two-story building was built in 2007 and has a recently remodeled common area. Rogers Coliseum paid $5.1 million for the 2.78-acre property in 2008.

The J.M. Smucker Co. (20,120 square feet) is the building’s primary tenant. Vital Pharmaceuticals Inc. and Omnicom Group are other tenants.

12M Commercial Properties paid $6 million for this 28,480-square-foot office building at 600 S. 52nd St. in Rogers.

Colliers International will lease and manage the property for the new owner.

BEAVER LAKE ABODE
A 23-acre lakefront residence on Beaver Lake in Benton County came off the market in a deal worth $2.6 million.

Jacob and Amanda Handy bought the 6,220-square-foot residence on Old Campbell Road in Rogers. Stephan and Deborah Barnes were the sellers.

Citibank N.A. provided financing with a 30-year, $2.33 million loan. Waco Title Co. of Springdale was the title agent.

Debra Barnes with Coldwell Banker Harris McHaney & Faucette in Fayetteville represented the seller. Whitney Morgan, also with Coldwell Banker Harris McHaney & Faucette, represented the buyer.

Barnes paid $2.55 million for the property in November 2018. The five-bedroom home was built in 2005. The property includes a custom nine-hole golf course, private boat dock with eight slips and detached, 3,000-square-foot garage.

RETAIL CONSTRUCTION
The city of Bentonville recently issued a commercial building permit to Kinetic Design Inc. of California valued at $1.36 million.

The building permit is being used to build an 8,192-square-foot tire store for Arizona-based national tire retailer Discount Store at 3501 S.E. Macy Road, at the intersection of U.S Highway 71 Business and Arkansas Highway 12.

Discount Tire, through its Halle Properties LLC, bought the 1.7-acre site in July 2020 for $1.05 million. 48th Street LLC was the seller.

Helker and Crawford Constructors of Texas is the general contractor. Kinetic Design is the architect.

BENTONVILLE COMMERCIAL
A vacant commercial building in Bentonville changed hands recently for $1.25 million.

1404 SWB LLC, managed by Douglas MacMahon, Robert Parks III and John David Robertson, bought the 3,933-square-foot building at 1404 S. Walton Blvd. California REIT Realty Income Corp. was the seller. City Title & Closing was the title agent.

Plano-Texas-based Pizza Hut was the freestanding building’s most recent tenant.

Realty Income paid $1.05 million for the 1.03-acre development in 2001. The building was built in 1999.

CAERLEON RESIDENCE
A 5,123-square-foot residence in Cave Springs’ upscale St. Valery Downs neighborhood changed hands recently for $703,800. The purchase price equals $137.38 per square foot.

Sam and Anna Russell bought the Caerleon Circle home from Jhablass and Tonya Balmakund.

Loria Hamilton-Field with USRealty.com was the listing agent. Waco Title Co. was the title agent. First Security Bank provided financing with a 30-year loan worth $548,250.

The four-bedroom home was built in 2007, and appraised in 2018 for $660,000. Balmakund bought the two-story home in July 2008 from First Western Bank for $530,000. The bank acquired the home in February 2008. Leroy and Gloria Jean Meyer bought the land in May 2004 from The Arnold D. Lehman Revocable Trust for $92,000.

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.