An investor group closed a $7.6 million deal recently for a 219,000-square-foot industrial warehouse in Rogers. The purchase price equals $34.70 per square foot.
Rogers 13th Street Properties LLC, led by Isaac Smith of Little Rock, bought the building at 1315 N. 13th St. Smith is president of commercial real estate firm Colliers Arkansas.
The multi-tenant industrial warehouse is fully leased and in a certified Opportunity Zone. Features include a heated warehouse, multiple loading docks, sprinkler system, large parking lot/loading area and high electrical capacity. Tenants include Customized Distribution Services, L&W Supply and VSC Fire & Security Inc.
“This property is a great investment for the new ownership group,” Smith said. “In addition to being fully leased, it’s located just minutes from the future Walmart Home Office campus, NorthWest Arkansas Community College, Mercy Hospital and the future Water Tower Road expansion.”
RMS Warehouse 1315 LLC, led by Scott Senyard, was the previous owner. Matt Mozzoni and Marshall Saviers with Cushman & Wakefield/Sage Partners represented the seller.
RMS paid $4.1 million for the property in June 2019.
“Scott Senyard and his partners have been great clients over the years,” Mozzoni said. “We were pleased to get the leasing assignment for the property when it was a vacant warehouse. Now, fully leased and repositioned in the market, we were able to reach our client’s goal of selling the property.”
Colliers will provide professional management services for the property.