Real Deals: Candlewood estate in Fayetteville registers $1.57 million

by Paul Gatling ([email protected]) 2,293 views 

A gated 3.28-acre estate situated in east Fayetteville’s Candlewood neighborhood came off the market in a $1.57 million sale.

James and Jacqui Lefler sold the East Township Street property to John and Carina Dellinger. It includes a 5,414-square-foot residence and 1,368-square-foot pool/guest house.

Virginia-based Navy Federal Credit Union backed the deal with a 30-year, $750,000 loan. Kelly Hanson with Portfolio Sotheby’s International Realty in Rogers represented the seller. Julie Wolfe with Weichert, Realtors-The Griffin Co. in Bentonville represented the buyer. Waco Title Co. of Springdale was the title agent.

Lefler paid $1.3 million for the property in August 2016. The Shelby P. Field Trust was the seller.

Field paid $1.5 million for the property in July 2014. Red Lion Properties LLC, managed by Chris May, was the seller.

Red Lion acquired the property in February 2011 for $1.95 million. 3122 Township LLC, led by Justin Salter, was the seller.

Salter paid $2 million for the property in December 2009. Jeff and Marshawn Whorton were the sellers.

Whorton paid Brandon and Keri Barber $1.55 million for the property in October 2008. The five-bedroom home was built in 2005 by Celtic Custom Homes of Fayetteville.

CACHE CLAIM
A commercial acquisition in Fayetteville that included a single-tenant office building and an adjacent undeveloped lot tipped the scales at $1.3 million.

Cache Land and Timber Co. LLC, managed by Rausch Enterprises of Fayetteville, bought the 17,000-square-foot building at 4044 N. Frontage Road. The deal also included an adjacent 0.82-acre lot on North Remington Drive.

Cherry Ridge LLC was the seller. Chambers Bank of Danville backed the deal with a 10-year, $1.04 million loan. Cherry Ridge is an affiliate of El Dorado-based Munoco Co., a family-owned company engaged in oil and gas exploration and production, as well as timber, real estate and farming operations.

Rausch Enterprises plans to use the building for future expansion. Another of its entities, homebuilder Rausch Coleman Homes, occupies about 29,000 square feet of the nearby 41,737-square-foot One Corporate Square office building at 4058 N. College Ave. Rausch Coleman Homes, through its American Residential Group LLC, paid Cherry Ridge $3.75 million for the three-story building in February 2018.

Arkansas Department of Human Services (DHS) is the existing tenant of the Frontage Road property. Rausch CFO Scott Peters did not disclose details of the DHS lease.

CLEAR CREEK ABODE
A 5,147-square-foot home in Phase II of the gated Clear Creek subdivision in Fayetteville recently sold for $1.25 million. The purchase price equals $242.85 per square foot.

Michael and Colette Crouse bought the five-bedroom home on Clear Creek Boulevard from Christopher and Robin Primm.

Texas-based Highlands Residential Mortgage backed the deal with a 30-year, $850,000 mortgage. Waco Title Co. of Springdale was the title agent.

The home was built in 2007, and its most recent appraisal was $1.04 million.

Primm paid $825,000 for the 1-acre property in August 2013. John and Jamie Banks were the sellers. Banks bought the lot in August 2006 from Jimmie and Cathy Hollingsworth for $138,000. Hollingsworth bought the lot in September 2003 from James and Tammy Young for $130,000.

Young bought the lot in June 2003 from Clear Creek Development LLC for $119,000.

STEARNS SALE
A 5,721-square-foot office building near U.S. Highway 71B in Fayetteville sold recently for $1.05 million. The purchase price equals $183.53 per square foot.

NWA Metro Holdings LLC, managed by Nick Limbird, bought the single-story building at 1148 E. Stearns St., north of Joyce Boulevard. Daugherty & Daugherty Properties LLC, whose members include Jason Daugherty and Robert Daugherty, was the seller.

The First National Bank of Fort Smith provided financing with a five-year loan of $1.06 million. City Title & Closing in Fayetteville was the title agent. David Erstine and Hunter Groce with CBRE in Fayetteville represented the seller.

Limbird and his wife, Tara Limbird, are co-owners of Rogers real estate firm Limbird Real Estate Group. They plan to develop the Fayetteville building for a second location.

SHADOW VALLEY HOME
A 3,920-square-foot residence in Phase V of Rogers’ gated Shadow Valley neighborhood has a new owner after a recent sale worth $710,000. The purchase price equals $181.12 per square foot.

Jason and Allison Van Matre bought the West Valley View property from Brent and Katherine Russell. Searcy-based First Security Bank backed the deal with a 30-year loan worth $548,250. Liberty Title & Escrow was the title agent.

The four-bedroom home was built in 2007. Russell paid Joel and Meredith Palmer $560,000 for the 0.5-acre property in May 2017. Palmer paid JBC Inc. $698,000 for the residence in August 2007.

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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