Real Deals: Rogers land in Promenade vicinity sells for $3.65 million

by Paul Gatling ([email protected]) 1,528 views 

Three parcels totaling 15.57 acres east of Pinnacle Hills Promenade in Rogers sold recently for $3.65 million. The purchase price equals $5.38 per square foot.

Technical Park Development GP LLC, managed by Nick Dozier, bought the land from PHP Holdings LLC, managed by Tamara Martin. The property is situated east of Bellview Road behind Fox Trail Distillery.

Conway-based Centennial Bank backed the deal with a $2.92 million loan. City Title & Closing of Fayetteville was the title agent. Melissa Sims with First Star Realty in Fayetteville represented the buyer.

Dozier, principal and CEO of Rogers retail technology firm Centric, said he is in the initial planning stages of developing the land to include retail and entrepreneurial flex office space. The land is zoned urban commercial (UCOM).

SKILLERN SALE
A gated residential estate situated on 18.8 acres in east Fayetteville changed hands recently for $3.5 million.

Skillern Road LLC, managed by Little Rock attorney Katie Watson Bingham, bought the property on East Skillern Road across from the entrance to the Savanna Estates neighborhood.

The Doris Ann Yates Revocable Trust and L. Carl Yates Trust were the previous owners.

City Title & Closing of Fayetteville was the title agent. Mary Bassett with Bassett Mix & Associates in Fayetteville represented the seller, and Joe Hendrix with Keller Williams Market Pro Realty in Fayetteville represented the buyer.

The custom built home includes 8,883 square feet with three levels plus a walk-out basement.

WALTON ASSET
An 18,984-square-foot commercial building in Bentonville changed hands recently for $3.45 million. The purchase price equals $181.73 per square foot.

Wobbe Lane LLC, led by Raymond Merrill, bought the two-story building at 1201 S. Walton Blvd. Keith Naples, through his 1201 S. Walton LLC, was the seller.

Oklahoma-based RCB Bank backed the deal with a 25-year loan of $2.7 million. Capital Abstract & Title of Fort Smith was the title agent. Wade Smith and Tom Rystrom of Colliers Arkansas in Rogers represented the buyer.

The building is 100% leased. Tenants include Orangetheory Fitness, Parachuting Penguins, Rich Products, Royal Oak and Marque of Brands.

Colliers Arkansas will continue as the property manager.

Naples paid $3 million for the property in 2015.

MISSION HOME
A 3,724-square-foot residence near downtown Fayetteville changed hands for $745,000. The purchase price equals $200 per square foot.

Mark Zweig and Sonya Stout bought the five-bedroom home on North Mission Boulevard from Dr. Robert and Cathy Irwin.

Lenders Title Co. of Fayetteville was the title agent. First Western Bank in Rogers provided financing. Beverly Harrison with Lindsey & Associates represented the seller and Dale Carlton with Carlton Realty represented the buyer.

The 1.1-acre residence was built in 1870 and had a second-floor addition in 1892.

CENTERTON LAND
A 2.02-acre commercial lot in Centerton sold recently for $475,000. The purchase price equals $5.40 per square foot.

Jayabheri LLC, whose members include Swetha Dullipalli, Anjana Nallapati, Yogitha Pasapula and Satya Pachipulusu, bought the lot at the southwest corner of West Centerton Boulevard (Highway 102) and North Vaughan Road. Centrex LLC, managed by Ramsay Ball and Kent Starr, was the seller.

Paragould-based First National Bank provided financing and City Title & Closing was the title agent. Wade Smith of Colliers Arkansas represented the seller.

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.