Real Deals: Pinnacle Hills property draws $6.75 million sale

by Paul Gatling ([email protected]) 2,388 views 

An 18,546-square-foot office building in Rogers’ Pinnacle Hills area sold recently for $6.75 million. The purchase price equals $363.95 per square foot.

Campeones LLC, led by Tom Rystrom, bought the single-story building at 3728 S. Pinnacle Hills Parkway, near the front gate of Pinnacle Country Club. BSB Office Center LLC, managed by John Schmelzle & Associates Inc. of Rogers was the seller.

Pine Bluff-based Simmons Bank backed the deal with a three-year, $4.27 million loan. City Title & Closing of Fayetteville was the title agent.

Rystrom is an investment broker with commercial real estate firm Colliers Arkansas in Rogers. Colliers will manage the property, which was built in 2019 and is fully leased. Tenants are Taylor Farms, Saputo and Precision Surgical Center of Northwest Arkansas.

Rystrom and Steve Lane with Colliers Arkansas represented the buyer’s side in the transaction.

SPRINGDALE MULTIFAMILY
A 54-unit multifamily portfolio in downtown Springdale closed recently for $3.5 million. The purchase price equals $64,814 per unit.

Garfias Investments LLC, led by Juan Gabriel Garfias Osorio, bought the four properties on Park and Powell streets and Texas Lane. Springdale Rental Properties LLC, led by Brian Wagers, was the seller.

City Title & Closing of Fayetteville was the title agent. Zack Kifer and Josh Singleterry with Moses Tucker Partners in Bentonville brokered the deal.

The properties include seven buildings and were 100% leased at the time of the transaction. The average unit size is 595 square feet.

DOWNTOWN BENTONVILLE
A 3,584-square-foot commercial building on the Bentonville square sold recently for $2.35 million. The purchase price equals $655.69 per square foot.

MLC Inc., registered to Ann Bogle McKenzie, bought the two-story building at 102 E. Central St. August 31 Holdings LLC, managed by Ben Butler, was the seller.

Josh Holland with Coldwell Banker Harris McHaney & Faucette in Bentonville represented the buyer. Butler, with Rogers real estate office Sitton Group, was also the listing agent. City Title & Closing was the title agent.

Matt Coburn Fine Art Inc. leases the building’s first floor and Downtown Bentonville Inc. leases the second floor.

August 31 Holdings paid $950,000 for the property in September 2014.

MLC paid $2.75 million for the adjacent 4,552-square-foot building at 104 E. Central St. in June 2021. Arend LLC, registered to Debi Havner, was the seller.

Visit Bentonville, the city’s tourism bureau, is the building tenant at 104 E. Central.

FAYETTEVILLE OFFICE
A fully leased, 6,500-square-foot office building in Fayetteville sold recently for $1.54 million.

EAL Properties LLC, managed by Erika and Alan Levar, bought the two-story building at 2961 N. Point Circle. Hillcrest Holdings LLC, managed by Gary Nichols, was the seller.

Southern Bancorp in Arkadelphia backed the deal with a 20-year loan worth $1.2 million. Waco Title Co. of Springdale was the title agent. Jordan Jeter and Matt Strom with Kelley Commercial Partners in Springdale were the listing agents.

Hillcrest Holdings paid $1.2 million for the building in September 2016. It was built in 2008.

THE MEADOWS ABODE
New construction in The Meadows neighborhood in Little Flock sold recently for $948,500.

Michael and Amy Morbeck bought the 4,608-square-foot residence on Rolling Meadows Drive. The purchase price equals $205.83 per square foot. 0806 Investments LLC, registered to Michael Hodges, was the seller.

Arvest Bank backed the deal with a 15-year, $240,000 loan. Waco Title Co. was the title agent. Hodges, an agent with Keller Williams Market Pro Realty in Bentonville, brokered the deal. Scott Waymire with Berkshire Hathaway HomeServices Solutions in Bentonville represented the buyer.

0806 Investments paid $68,000 for the 1.28-acre lot in November 2020.  David and Jamie Fietkau were the sellers. The five-bedroom home was completed in 2022.

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.