Real Deals: Tennessee developer pays $3.5 million for Rogers land

by Paul Gatling ([email protected]) 3,804 views 

Land approved for a multifamily development in Rogers’ Pinnacle Hills area changed hands recently for $3.58 million.

Hutton, a Chattanooga, Tenn.-based commercial real estate, development and investment company, bought 14.3 acres at the southwest corner of Champions Drive and Walsh Lane. The purchase price equals $5.76 per square foot.

Dolle Realty LLC, led by Paul W. Dolle, was the seller. Colliers International in Rogers was the listing agency.

City planners approved Hutton’s development plan earlier this year. It includes a five-building, 313,500-square-foot development with 285 units.

City planners rezoned the property last fall from agriculture to uptown neighborhood transition. The site is partially bounded to the east by the Beau Chene Farms neighborhood.

AUTOMOTIVE LAND
Land under consideration for a Volkswagen dealership in Rogers changed hands recently for $2.12 million.

Arkansas-based auto retailer Everett Auto Group, through its 4510 West Poplar Street LLC, bought approximately 6.07 acres at the same address. The site is along northbound Interstate 49 just south of Outback Steakhouse. The purchase price equals $8.04 per square foot. Spark Rose Investments LLC, led by Steve Rose, was the seller.

Searcy-based First Security Bank backed the deal with a one-year loan worth $2.12 million. Waco Title Co. of Springdale was the title agent. Devereux Real Estate Investments of Rogers, led by Pat Morrison and Chuck Dicus, represented the seller. Dan Moudy with Baxley Penfield Moudy Realtors in Bryant was the buyer’s agent.

In February this year, Everett Auto Group filed a preliminary development plan with the city of Rogers for technical review, signaling its intention to build a car dealership on the property.

According to the document, the dealership will be about 24,000 square feet. The document did not indicate what vehicle brands the dealership would sell. Engineering firm Hope Consulting and architectural firm Black, Corley, Owens and Hughes, both of Benton, are leading the preliminary design work.

Dwight and Susie Everett and two of their sons-in-law, Chad Hendrix and Brandon Hudspeth, own Everett Auto Group, which operates four dealerships in central Arkansas — Everett Buick GMC, Everett Chevrolet, Everett Ford and Infiniti of Central Arkansas.

Rogers city planner Ethan Hunter said the project is still under review and has not yet gone to planning commission for approval.

SUNBRIDGE SALE
A 11,662-square-foot office building in Fayetteville has a new owner after a sale worth $1.45 million.

RJT Holdings LLC, managed by Richard Roblee, bought the 1.24-acre development at 158-162 E. Sunbridge Road. Alpha Farms LLC, managed by Maynard Neas Anderson, was the seller.

Chambers Bank of Danville financed the deal with a $1.23 million mortgage. City Title & Closing was the title agent. Bleaux Barnes with Mathias Real Estate in Springdale was the listing agent. Tommy Van Zandt with Cushman & Wakefield/Sage Partners in Rogers represented the buyer.

The single-story building was built in 2004 and last sold in May 2016 for $950,000.

Roblee Orthodontics was the building’s tenant when it changed hands, occupying roughly 60%. Natural State Aesthetics PLLC has leased the building’s remaining space (4,573 square feet).

CALLIHAN CLAIM
A 6,931-square-foot custom home in Springdale changed hands recently for $1.05 million. The purchase price equals $151 per square foot.

Dustin and Stephanie Shockley bought the 20.49-acre property on Callihan Loop, west of Arkansas Highway 112. Richard and Deborah Placek were the sellers.

Waco Title Co. of Springdale was the title agent. Lisa Darling with Keller Williams Market Pro Realty in Fayetteville was the listing agent. Susie Sparkman with McGraw Realtors in Bentonville represented the buyer.

The five-bedroom home was built in 1991. Placek bought the land in 1987 for $41,000.

LOCH LOMOND RESIDENCE
An updated Bella Vista lake home on Loch Lomond has a new owner after a recent sale worth $929,000.

Lani Guilmette, trustee of the Lani Cathryn Durbin Trust, bought the 4,602-square-foot home on Lois Lane. The purchase price equals $202 per square foot. James and Toni Granacher were the sellers.

Waco Title Co. of Springdale was the title agent. Brenda Parker with RE/MAX Real Estate Results in Bentonville was the listing agent. Greg Hughes with Elite Realty in Springdale represented the buyer.

The single-story home was built in 1995. Granacher paid $565,500 for the three-bedroom home in November 2011. Geiser Family Trust was the seller.

CHAPEL HILL HOME
A fully remodeled residence in Bentonville’s Chapel Hill neighborhood sold recently for $895,000.

Lollybrook LLC, organized by Spencer McMillon, bought the 5,432-square-foot residence on Chapel Hill Drive. The purchase price equals $164.76 per square foot. Rodney and Katherine Redman were the sellers.

Waco Title Co. was the title agent. Robbie Musson with Engel & Völkers NWA in Bentonville represented the seller. Christina Gervasi with Coldwell Banker Harris McHaney & Faucette in Rogers represented the buyer.

Redman paid $622,000 for the residence in December 2010. Homes of Distinction was the seller.

TONTITOWN WAREHOUSE
A 13,400-square-foot vacant warehouse on 0.95 acres in Tontitown has a new owner after a $790,000 sale.

CJDG Properties LLC, led by Dakota Riggins, bought the steel-frame building at 175 Via De Tonti. Donark Properties LLC was the seller.

Zack Kifer with Newmark Moses Tucker Partners in Bentonville represented the buyer. Bill McClard and Ben Grissom with Lindsey & Associates in Fayetteville represented the seller.

Powersports dealer Tribal Motorsports will occupy 4,000 square feet. Kifer is listing the remaining space for lease.

C STREET RESIDENCE
A 2,675-square-foot residence in downtown Bentonville sold recently for $645,000. The purchase price equals $241.12 per square foot.

Jason and Rachel Iacobucci bought the three-bedroom home on Southwest C Street. Gregory and Kate Schaffer were the sellers.

Marcus Necessary with Weichert, Realtors-The Griffin Co. represented the seller. Rebecca Seba with Weichert, Realtors-The Griffin Co. represented the buyer. Waco Title Co. of Springdale was the title agent.

The Jacobs Group, led by Todd Jacobs, built the two-story residence in 2017. Schaffer bought the property in August that year for $589,000.

CASEY’S CLAIM
A $415,000 land purchase in Springdale is paving the way for a Casey’s General Store development.

The Ankeny, Iowa-based company bought two parcels totaling 2.62 acres at 2100 E. Robinson Ave., at the intersection of Oriole Street.  The purchase price equals $3.64 per square foot.

Cypert Family Revocable Trust and Dewey Johnson sold one lot (0.81 acres) for $161,888. Jon and Tamara Dellinger sold the other lot (1.81 acres) for $253,112.

Zack Kifer and Payne Phillips with Newmark Moses Tucker Partners in Bentonville represented the sellers. Ethan Tisdale with Steve Fineberg and Associates in Bentonville represented the buyer.

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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