Real Deals: Pleasant Crossing retail center in Rogers rings up $7.5 million sale

A 20,908-square-foot retail center just off Interstate 49 in Rogers has a new owner after a recent sale worth $7.5 million. The purchase price equals $358.71 per square foot.

A limited liability company led by Ray Osment of Jonesboro bought the Pleasant Crossing Shoppes at 2600 W. Pleasant Crossing Drive. Limited liability companies managed by Isaac Smith, Mark Bentley, Kevin Huchingson and Donald Coulter III sold the property.

Simmons Bank in Jonesboro backed the deal with a 10-year loan worth $5.68 million. City Title & Closing of Fayetteville was the title agent.

Philip Schmidt and Jordan Jeter with Kelley Commercial Partners in Springdale represented the buyer. Alan Cole with Colliers Arkansas in Rogers represented the seller.

The multi-tenant building is fully leased. Tenants include Moe’s Southwest Grill, Mattress Firm, Eyemart Express, Aloft Nail & Spa and Supercuts.

The 3.98-acre development is six years old.

FOUNTAIN FIND
A 28,832-square-foot office building in Bentonville sold recently for $4.85 million. The purchase price equals $168.21 per square foot.

Fountain of Beauty LLC, managed by Marsha Martin, bought the two-story building at 802 S.E. Plaza Ave. in the Fountain Plaza development. Dynamic Development Inc., led by Todd Fleeman, was the seller.

City Title & Closing of Fayetteville was the title agent. David Erstine with CBRE in Fayetteville was the listing agent.

On-Shelf Marketing leases approximately 25% of the building, which was built in 2005. The remainder is vacant.

Martin is the founder and CEO of Onyx Brands, a cosmetic products manufacturer and distributor based in central Arkansas.

CONVENIENT CLAIM
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.

DOWNTOWN DEAL
The sale of a multitenant commercial building in downtown Rogers tipped the scales at $2.39 million.

Sawbuck LLC, managed by Karisa Sprague of Rogers, bought the 12,560-square-foot building at 210-216 S. First St. The purchase price equals $190.68 per square foot. CCV Rogers DT Holdings LLC, managed by Randy Crossno, was the seller.

Arvest Bank in Rogers backed the deal with a five-year, $2.03 million loan.

City Title & Closing of Fayetteville was the title agent. Capstone Commercial Advisors in Rogers was the seller’s agent. Fred Johnson with Lindsey & Associates represented the buyer.

The two-story building is 100% leased by multiple tenants including David James Salon, Alexander Baking Co., Threads 3 Fourteen, Jack T. Carter Co. and Capstone Commercial Advisors.

SPRINGDALE LAND
A land sale in Springdale tipped the scales at $1.15 million.

Fishing Bridge Investments LLC, managed by Greg Brown, bought 20 acres at the northwest corner of Butterfield Coach Road and Don Tyson Parkway. Thomas R. Cantrell was the seller.

An 18-month, $862,500 loan arranged by Will Gladden with Signature Bank of Arkansas in Fayetteville backed the deal. City Title & Closing of Fayetteville was the title agent. Chad and Bonnie Beebe with Weichert, Realtors-The Griffin Co. in Springdale brokered the deal.

The property includes a 1,915-square-foot residence and other structures. Brown said negotiations are pending, and he will announce development plans for the property at a later date.

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.