Commercial space in Fayetteville’s Legacy Building listed for sale

by Paul Gatling ([email protected]) 1,515 views 

Real estate watchers in Washington County report a notable commercial space for sale one block north of Dickson Street in downtown Fayetteville.

The entire second floor (8,741 square feet) of the 84,000-square-foot Legacy Building at 401 W. Watson St. recently hit the market for $2.1 million. The asking price equals $240.24 per square foot.

A limited liability company managed by Julia Youngblood paid $1.7 million for the space in February 2019. The seven-story building has 38 condo units on floors three through seven.

Youngblood’s husband, Fawaad Welch, is the founder and CEO of the previous tenant, Slipstream Creative, a computer software firm based in Fayetteville that targets new car dealerships.

The business is still a going concern, but the Fayetteville employees are all now working remotely.

According to an online property listing, the second-floor space is Class A and “boasts high-end, high-quality, first-class finishes, high-tech security, including an elevator and parking garage for easy access.”

Sara Posey with Fayetteville firm Collier & Associates is marketing the property.

The Legacy Building was built in 2007 and was a notable project of convicted developer Brandon Barber, who pleaded guilty in July 2013 to three charges — conspiracy to commit bank fraud, money laundering and conspiracy to commit bankruptcy fraud — and was sentenced in October 2014 to 65 months in federal prison.

A former restaurant space on the first floor of the Legacy Building remains independently owned and for sale. The 4,377-square-foot space is owned by Clint Boutwell of Oxford, Miss. He opened a casual fine dining restaurant called The Grillehouse Steak and Seafood in the fall of 2015 and was originally leasing the space from Kyle Naples.

Through his Steakhouse Holdings LLC, Boutwell bought the space in July 2016 for $808,426. The restaurant closed in May 2017.

Brennan Sharpe with Steve Fineberg & Associates in Bentonville is marketing that space for $895,000. The asking price equals $240.24 per square foot.

Sharpe said an undisclosed tenant signed a lease for the space March 8, but it remains for sale for an investment buyer.