Real Deals: Broadway Contracting begins $12.3M renovation for Simmons

The city of Siloam Springs recently issued a building permit to Broadway Contracting of Siloam Springs valued at $12.35 million.

The company is using the permit for an improvement project for Simmons Animal Nutrition at 1113 E. Ashley St.

The project will include 30,000 square feet of cold storage space and other renovations to existing warehouse space, receiving docks and employee parking areas. The project is scheduled for completion by the end of the year.

Simmons Animal Nutrition is a division of Simmons Foods Inc. and Affiliates.

BENTONVILLE LAND
Bentonville land along northbound Interstate 49 changed hands recently for $8 million.

Evans Investment Group LLC, a Delaware-registered entity, bought 37.74 acres at 209 Water Tower Road, south of East Battlefield Boulevard. The purchase price equals $4.87 per square foot. Paula Anderson, Margaret Jane Wilber, Cybill Hidee Duncan and Heather Finley were the sellers.

City Title & Closing of Fayetteville was the title agent.

The property last sold in 1984 for $39,900. It includes a single-story residence built in 1982 with 2,516 square feet.

MEDICAL OFFICE
A 12,244-square-foot medical office building in Bentonville’s Mid-Cities Crossing development sold recently for $7.75 million. The purchase price equals $632.96 per square foot.

California-based Hess-Junction Plaza LLC, led by Stanley Hess, bought the single-story building at the intersection of Southeast 30th Street and Northeast Mid-Cities Drive. PCBA Realty LLC was the seller.

Symetra Life Insurance Co. of Iowa backed the deal with a 30-year, $3.05 million loan. Waco Title Co. of Springdale was the title agent.

Little Rock-based Pain Treatment Centers of America (PTCOA) owns PCBA and remains the building tenant on a long-term lease. The company bought the land (1.74 acres) in August 2019 for $583,000.

FORT SMITH MULTIFAMILY
A 102-unit multifamily deal in Fort Smith tipped the scales at $4.79 million. The purchase price equals $47,000 per unit.

Tulsa, Okla.-based FSA Windsor LLC bought the units that include the Sunset Village Apartments and Windsor Apartments at 1100 S. 11th St. The combined square footage is 19,654.

Brian Wagers, partner with Texas-based Elevate Commercial Investment Group, was the seller.

Chickasaw Community Bank in Oklahoma City provided financing. City Title & Closing in Fayetteville was the title agent. Joshua Harmon of Harmon Real Estate Co. in Fort Smith brokered the deal.

The two-story property is 99% occupied.

MEDICAL OFFICE II
A standalone medical office building in Springdale sold for $1.75 million.

KKCK Defense LLC, led by Kenneth Smith, bought the 9,074-square-foot building at 1022 Jones Road west of Interstate 49. The purchase price equals $193.40 per square foot. Gary and Michelle Tollett were the sellers.

Advantage Title in Fayetteville was the title agent. Weichert, Realtors-The Griffin Co. in Springdale was the listing agent.

The single-story office was built in 2007 and is leased to Sageway Behavioral Health.

SPRINGDALE LAND
A 12.4-acre land sale in Springdale tipped the scales at $1.4 million. The purchase price equals $2.59 per square foot.

The Springdale School District bought the property at 2905 W. Huntsville Ave. Lots 102 Holdings, led by Melissa Sims, was the seller.

Waco Title Co. was the title agent.

The property is situated west of Central Junior High School and will be developed as part of the campus’ expansion project.

TONTITOWN LAND
Two commercial lots in Tontitown’s Venezia Piazza addition totaling 2.18 acres sold recently for $950,000. The purchase price equals $10 per square foot.

Kee LLC, led by Kirk Elsass, bought the property on Arkansas Highway 112, just south of the U.S. Highway 412 intersection. 112 Partners LLC/Lots 102 Holdings LLC, led by Melissa Sims, was the seller.

Zack Kifer and Payne Phillips with Moses Tucker Partners in Bentonville represented the seller.

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.