Real Deals: Bentonville office buildings register $3.7 million sale

by Paul Gatling ([email protected]) 1,339 views 

A pair of Bentonville office buildings totaling 28,955 square feet changed hands recently for $3.7 million. The purchase price equals $127.78 per square foot.

KBR Bentonville Properties LLC, managed by Bapuji Kothapalli of New Jersey, bought the single-story buildings at 105 and 109 S.E. 22nd St. in the South Walton Plaza development. Brunwick Development Group LLC, managed by Alex Baumeister, was the seller.

Springdale-based Legacy National Bank backed the deal with a five-year loan worth $2.97 million. City Title & Closing of Fayetteville was the title agent.

Cameron Clark with Bennett Commercial Real Estate in Rogers represented the buyer. Butch Gurganus and Oksana DeMaris with Focus Commercial Real Estate in Bentonville represented the seller.

105 S.E. 22nd is 16,755 square feet and 84% occupied by multiple tenants. 109 S.E. 22nd is 12,200 square feet and fully leased by a single tenant.

CHAMPIONS DRIVE
A 4.71-acre commercial property in Rogers’ Pinnacle Hills area has a new owner after a recent sale worth $2.12 million.

KBR Rogers Pinnacle LLC, managed by Bapuji Kothapalli of New Jersey, bought the property on South Champions Drive, south of Uptown Terrace mixed-use development. Martin and Lisa Porter were the sellers.

Cameron Clark and Clinton Bennett with Bennett Commercial Real Estate in Rogers represented the buyer and the seller. Grand Savings Bank of Bentonville backed the deal with a one-year loan worth $1.59 million.

The property is zoned A-1 agricultural but is slated for a URDC (Uptown Rogers Development Code) rezoning. It includes a 5,026-square-foot single-family residence built in 1999.

MORTGAGE MOVE
A 3,849-square-foot vacant commercial building in Rogers’ Pinnacle Hills area sold recently for $1.6 million. The purchase price equals $415.69 per square foot.

Rogers That LLC, managed by Jeff Allen and Micah Macias, bought the single-story building at 3000 S. Pinnacle Hills Parkway. Sharky’s Modern Mexican Kitchen and Bean & Vine were the building’s previous tenants.

SharkFX Holdings LLC, managed by W. Rodney Coats, was the seller. Allegiance Title Co. of Fayetteville was the title agent, and Regent Bank of Tulsa backed the deal with a five-year loan worth $1.29 million.

Allen (owner/CEO) and Macias (president) are principals of AMC Mortgage, a Tulsa-based mortgage banker. The company will repurpose the Sharky’s space to house an AMC Northwest Arkansas office. The new owners will lease the Bean & Vine space to a new restaurant called 52 Kilo. The buildout should be completed later this year.

Katelyn Huddleston is AMC’s Northwest Arkansas regional manager. She started the regional office in July 2021. It’s in leased space at 1701 W. Industrial Drive in Rogers and has six employees. From August through December, AMC NWA closed $10.1 million in mortgage loans.

Huddleston said AMC has plans to add other Northwest Arkansas offices in the future. The company has offices in Oklahoma (6), Texas (2) and Arkansas (1).

LITTLE ELM RESIDENCE
A recently updated residence on 4.8 acres in Farmington changed hands recently for $1.3 million.

Derek and Kacie Travis bought the 7,351-square-foot home on Little Elm Road. Semmie and Shanda Guenther were the sellers.

Arvest Bank backed the deal with a 30-year loan worth $1.04 million.

Waco Title Co. was the title agent. Mindy Foster with Collier & Associates in Farmington represented the seller, and Kelsey Roemer with Lindsey & Associates in Fayetteville represented the buyer.

The six-bedroom home was built in 2005. Guenther paid $674,900 for the property in April 2020. Donnie and Elizabeth Ganoung were the sellers.

SPRINGSWOODS SALE
A 4.65-acre commercial lot in Fayetteville’s Springwoods development sold recently for $1 million. The purchase price equals $4.94 per square foot.

OZRE Partnership Holdings LP, a Delaware-registered company, bought the land on West Truckers Drive near Sam’s Club. Springwoods Investments LLC, managed by Gerald Johnson, was the seller.

Waco Title Co. was the title agent. Chuck Dicus with Devereux Real Estate Investments in Rogers represented the buyer. Randy Crossno with Capstone Commercial Advisors in Rogers represented the seller.

ST. VALERY DOWNS ABODE
A recently updated home in Phase I of Bentonville’s St. Valery Downs subdivision changed hands recently for $950,000.

David and Deborah Prator bought the 4,392-square-foot property on Daventry Drive from the Jim and Melissa Cole Trust. The purchase price equals $216.30 per square foot.

Waco Title Co. of Springdale was the title agent. The EJ Johnson Group with Keller Williams Market Pro Realty in Bentonville was the listing agent.

The 1.2-acre residence was built in 2004. Cole paid $586,000 for the four-bedroom home in January 2015. The Penny A. Wells-Sims Trust was the seller. Wells-Sims bought the home in September 2004 from Winning Designs Inc. for $630,000. Winning Designs bought the lot in October 2003 from The Arnold D. Lehman Revocable Trust for $80,000.

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.