Real Deals: Lindsey starts $29M addition to The Greens at Blossom Way

by Paul Gatling ([email protected]) 1,106 views 

Lindsey Construction Co. Inc. of Fayetteville recently paid the city of Rogers for 10 commercial building permits with a combined valuation of $28.9 million.

Lindsey is using the permits for Phase II of The Greens at Blossom Way, a 384-unit apartment complex along southbound Interstate 49.

The second phase will add 10 buildings and 270 units on about 11 acres at the northeast corner of Bellview Road and 28th Street.

Paragould-based First National Bank is financing construction.

MULTIFAMILY SALE
An 82-unit apartment complex in Springdale sold recently for $4.5 million. The purchase price equals $54,878 per unit.

Noth LLC, led by Nancy Cullins, bought the Foxfire Apartments at 1701 S. West End St. LW Foxfire LLC, led by Brian Wagers, was the seller.

Arvest Bank financed the deal with a five-year, $3 million loan. City Title and Closing was the title agent.

Zack Kifer and Josh Singleterry with Newmark Moses Tucker Partners in Bentonville represented the seller. Melissa Lee with Keller Williams Market Pro Realty in Fayetteville represented the buyer.

LW Foxfire paid $2.9 million for the 4-acre property in May 2019. It includes three, two-story buildings.

JOHNSON COMMERCIAL
A 15,424-square-foot commercial building and adjacent 0.62-acre outparcel just off Interstate 49 in Johnson has a new owner after a recent sale worth $2.3 million.

OIG LLC, led by Will Anthony, bought the fully leased Shoppes at the Mill development at 3801 Johnson Mill Blvd., east of Interstate 49. It’s situated on 1.82 acres in the Maverick Commercial Park.

Anthony owns Ozark Iron Gym, one of the building tenants. Other tenants include Keller Williams Market Pro Realty and Arkansas Biomechanics & Rehabilitation.

KWMPR 3801 Main LLC, led by Keller Williams executive broker Larry Robison, was the seller. Bank OZK backed the deal with a 10-year, $1.15 million loan.

Cameron Clark with Bennett Commercial Real Estate in Rogers represented the buyer. Brandon Robison with Keller Williams Market Pro Realty represented the seller.

KWMPR 3801 Main paid $2.56 million for the building and adjacent lot in June 2017.

SUNSET SALE
An 8,126-square-foot commercial property in Springdale changed hands recently for $800,000. The purchase price equals $98.44 per square foot.

Think Big Realty LLC, whose members include Gangaraju Bhaskaka Raju, Prathima Muppala, Venu Dullipalli and Swetha Dullipalli, bought the building at 2200 W. Sunset Ave. from Coleman Properties of NWA, managed by Jason Coleman.

Paragould-based First National Bank provided financing with a 20-year, $640,000 loan. Realty Title & Closing Services in Rogers was the title agent.

Krystal Tronzano with Collier & Associates in Bentonville was the listing agent. The property includes three buildings with 6,582 square feet of retail space and 1,544 square feet of office space. They are fully occupied by multiple tenants.

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.