A 13.3-acre commercial property in Bentonville changed owners recently in a deal worth $22.5 million.
Limited liability companies in New Jersey, led by majority owner FEM Rainbow Farm Road LLC, formed a tenants-in-common partnership to buy a 175,000-square-foot industrial/flex building at 4501 S.W. Rainbow Farm Road, at the southwest corner of Rainbow Farm Road and Southwest Regional Airport Boulevard. The purchase price equals $128.57 per square foot.
CrossMar Investments, a commercial development group in Bentonville led by Chris Crossland and Phil Martz, was the seller.
BOK Financial in Fayetteville provided financing with a five-year, $13.5 million loan arranged by Phil Whitehead. City Title & Closing in Fayetteville was the title agent.
Crossmar built the two-story building two years ago, and it’s fully-leased to Walmart Inc.
Mimi Feliciano manages FEM Rainbow Farm Road. She is the co-founder and CEO of FEM Real Estate in Montville, N.J., an investment firm that develops, owns and manages commercial real estate across the United States.
A pair of Fayetteville multifamily developments with a combined 132 units sold recently in separate deals worth $10 million. The purchase price equals $75,757 per unit.
Limited liability companies controlled by Jake Newell, Ray Osment and Mitch Moore paid $6 million for the Club at the Creek property (84 units) at 701 W. Sycamore St. and $4 million for the Vineyards on Garland Apartments (48 units) at 2000 N. Garland Ave.
Greg House sold both properties. They are both fully leased.
City Title & Closing of Fayetteville was the title agent. Philip Schmidt with Kelley Commercial Partners in Springdale represented the buyer.
Osment said the new owners plan some light renovations to the Vineyards property. The Club property will be rebranded following more extensive renovations that will include the addition of bike storage, a dog park, fitness center and smart technology.
Signature Bank of Arkansas in Fayetteville is funding the upgrades with two loans worth a combined $9.15 million.
A 11,300-square-foot retail center in Springdale has a new owner after a recent sale worth $4.37 million. The purchase price equals $387.16 per square foot.
NZZB Properties, led by Zach and Natalie Dixon, bought the fully-leased multitenant building, known as Sunset West Plaza, at 7322 W. Sunset Ave. Burke Larkin, through his Sunset West FW Plaza LLC, was the seller.
Booneville-based First Western Bank financed the deal with a 25-year loan of $3.93 million. City Title & Closing of Fayetteville was the title agent. Alan Cole with Colliers Arkansas in Rogers brokered the deal.
The single-story building’s tenants include First Western Bank, US Pizza, Glo Nail Bar and Hotworx.
Larkin paid $1.02 million for the land (1.78 acres) in June 2018.
A single-tenant commercial property in Springdale changed hands recently for $4.35 million.
Sunset & Go LLC, a Colorado-based investor, bought the 4,968-square-foot building at 2351 W. Sunset Ave. The purchase price equals $875.60 per square foot Hurd Real Estate, an Iowa-based real estate development and investment firm, was the seller.
First Security Bank of Searcy backed the deal with a $3 million loan. Zach Wright with Blue West Capital in Colorado brokered the deal for both sides.
Convenience store operator Kum & Go is the tenant under a long-term, triple-net lease. There are no landlord responsibilities and fixed rental increases every five years.
Hurd paid $3.91 million for the 1.26-acre property in January 2021.
A multitenant commercial development in Bentonville sold recently for $2.34 million.
Greenway Trail Properties LLC, managed by Aaron and Susan Woodward, bought the 11,510-square-foot retail center at 1706 S.E. Walton Blvd. The purchase price equals $203.73 per square foot. John Lykins, through his Lykins Leasing LLC, was the seller.
Arvest Bank backed the deal with a five-year loan worth $2.46 million. City Title & Closing was the title agent.
The development is 100% occupied by multiple tenants including Game X Change, Lafferty Family Care and GEICO Insurance Agency.
The Razorback Regional Greenway runs next to the property.
Lykins paid $1.76 million for the 1.31-acre property in August 2015.
A vacant commercial building in Rogers’ Scottsdale Center development sold recently for $900,000.
Kalludra Properties LLC, managed by Alex Kalludra, bought the 8,342-square-foot building at 463 N. 46th St. The purchase price equals $107.88 per square foot. SA Holdings Inc., managed by Greg Kossover, was the seller.
Equity Bank in Pea Ridge backed the deal with a four-year loan worth $723,048. Allegiance Title was the title agent. Philip Schmidt with Kelley Commercial Partners in Springdale brokered the deal.
Kalludra owns Rogers restaurant Napoli’s and will relocate the business to North 46th Street once the building is renovated.
Copeland’s of New Orleans was the previous restaurant tenant. The building has been vacant for several years.
OWL CREEK HOME
A 3,068-square-foot residence in Farmington’s Owl Creek subdivision sold recently for $655,000. The purchase price equals $213.49 per square foot.
Ryan Crouser bought the four-bedroom home on Blue Sky Road from Charles and Susan Trantham.
Waco Title Co. of Springdale was the title agent. Michael Sims with Bassett Mix & Associates of Fayetteville represented the buyer.
The home was built in 2003. Trantham bought the land (4.9 acres) that year for $64,000.
COUNTRY CLUB LAND
Undeveloped land surrounding Fayetteville Country Club changed hands recently for $600,000.
RCJH LLC, managed by Rick Lawson, bought three parcels totaling 51 acres from the Claudia Mary Kate Arrington Revocable Trust. The purchase price equals 27 cents per square foot.
Waco Title Co. in Springdale was the title agent. Amy Hutcherson with Lindsey & Associates represented the seller. John David Lindsey with Lindsey & Associates represented the buyer.
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