Real Deals: Tontitown commercial building registers $4.48 million sale

by Paul Gatling ([email protected]) 1,556 views 

A 23,500-square-foot building in Tontitown changed hands recently for $4.48 million.

GC Investment Properties LLC, managed by Caleb Bronn and Jared Hiltzik, bought the building at 750 E. Henri De Tonti Blvd. McCain & Madden LLC, whose members include Phillip Coates, was the seller.

Realty Title & Closing of Rogers was the title agent. Fayetteville-based Signature Bank of Arkansas backed the deal with a five-year, $3.48 million mortgage.

The purchase price includes the business sale of the building tenant. Ozark Sportsman Supply, Ozark Outpost and The Flying Axe House will be rebranded to Ozark Sportsman, an indoor shooting range, retail shop and corporate event center.

CARLEY CLAIM
Siloam Springs land that’s been approved for residential development changed hands recently for $4.09 million.

EBGB Investments LLC, managed by Ed Blalock, bought 79 lots totaling 22.26 acres at the intersection of Arkansas Highway 43 and Lawlis Road. The purchase price equals $4.22 per square foot. Riggins Commercial Construction & Development Inc. of Fayetteville, led by Kevin Riggins, was the seller.

Paragould-based First National Bank financed the deal with a two-year loan of $2.81 million. The lots are in Phases I and II of the Carley Crossing subdivision.

EBGB Investments LLC is owned by Springdale-based homebuilder Sunrise Homes.

BENTONVILLE RESIDENCE
A 5,074-square-foot residence near Bentonville’s downtown square sold recently for $1.9 million. The purchase price equals $374.45 per square foot.

Brad and Jeannette Crain bought the five-bedroom home on Northeast Second Street. Nancy Berg Mitchell was the seller.

Waco Title Co. was the title agent. Arvest Bank provided financing with a 15-year, $1.4 million loan. Natalie Edwards with Better Homes and Gardens Real Estate Journey in Bentonville represented the seller. Scott Waymire with Berkshire Hathaway Homeservices Solutions in Bentonville represented the buyer.

Mitchell paid $1.22 million for the 0.2-acre property in July 2020. Jeff and Dawn Scroggins were the sellers.

PINNACLE LAND
Two commercial lots totaling 1.41-acres in Rogers’ Pinnacle Hills area sold recently for $1.32 million. The purchase price equals $21.62 per square foot.

The Pinnacle Residences LLC, managed by Tom Allen, Marshall Saviers and Nick Dozier, bought the property at the intersection of South Champions Drive and South Pinnacle Hills Parkway. Two business entities led by Johnelle Hunt previously owned the land.

Springdale-based United Bank backed the acquisition with a one-year loan of $1.37 million. City Title & Closing of Fayetteville was the title agent.

Allen said the new owners are still determining development plans for the property.

FAYETTEVILLE INDUSTRIAL
A vacant 19,600-square-foot industrial building in the Fayetteville Industrial Park changed hands recently for $1.15 million. The purchase price equals $58.67 per square foot.

1860 Pump Station Rd LLC, whose members include Eric Wright, Zach Holderfield, Chris Elkins and Christopher Barton, bought the building at the same address. A court-appointed receiver for Brite Source Properties LLC, whose members include Luis Sosa and Katie Webb, was the seller.

First Community Bank of Batesville backed the deal with a five-year loan worth $1.33 million. Realty Title & Closing Services of Rogers was the title agent.

The manufacturing facility includes 4,000 square feet of finished office space. Brite Source paid $1.04 million for the 4.05-acre property in July 2020. ARMI Properties LLC was the seller.

HANOVER HOUSE
A 3,348-square-foot remodeled residence in Phase II of Bentonville’s Hanover subdivision sold recently for $826,500. The purchase price equals $246.86 per square foot.

Robert and Jessica Meier bought the four-bedroom home on Regency Court from Brad and Jeannette Crain.

Danville-based Chambers Bank backed the deal with a 30-year, $436,500 loan. Waco Title Co. of Springdale was the title agent. Brandi Mallard with Collier & Associates in Rogers represented the buyer. Scott Waymire with Berkshire Hathaway Homeservices Solutions in Bentonville represented the seller.

The two-story home was built in 1994. Crain paid $521,000 for the 0.6-acre property in March 2020. Susan and Cole Patton were the sellers.

Patton paid $407,000 for the residence in August 2018. Robert and Judy DeGarmo were the sellers. DeGarmo paid $271,000 for the property in November 1996. John and Linda Hamilton were the sellers.

SLOAN ESTATES SALE
A 4,294-square-foot residence in east Fayetteville’s Sloan Estates neighborhood came off the market recently in a $799,900 deal. The purchase price equals $186.28 per square foot.

Bryan Jesse and Katherine Linder-Jesse bought the five-bedroom home on North Nevis Court from Christopher and Heather Clouse.

Tennessee-based First Horizon Bank backed the deal with a 30-year, $500,000 loan. Waco Title Co. of Springdale was the title agent. Melanie Gabel with Lindsey & Associates in Fayetteville brokered the deal.

Clouse bought the 0.36-acre lot in 2014 for $74,000 and built the house in 2015.

DOMINO’S DEVELOPMENT
A 1.8-acre commercial lot in Centerton changed hands recently for $411,642. The purchase price equals $5.25 per square foot.

A&M Pizza Real Estate LLC of Missouri bought the lot at the corner of Centerton Boulevard and Monroe Street. Jeff Quam Construction Inc. was the seller.

City Title & Closing of Fayetteville was the title agent. Alan Cole with Colliers Arkansas in Rogers represented the buyer. Steve Fineberg with Fineberg & Associates in Bentonville represented the seller.

The property was split from the original 2.88-acre parcel located at the site. A&M Pizza is a Domino’s Pizza franchisee and will develop the site as a standalone restaurant.

LEASE ACTIVITY
Fayetteville-based real estate firm The Sudar Group signed a lease agreement for 2,100 square feet at The Hub at Chaffee Crossing in Fort Smith.

Fort Smith natives Doug and Corrine Sudar own the business. ERC Properties of Rogers owns The Hub.

Bob Cooper Jr. with Ghan & Cooper Commercial Properties in Fort Smith represented both sides in the lease agreement.

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.