Real Deals: Investors claim Centerton retail center for $2.4 million

by Paul Gatling ([email protected]) 1,436 views 

A 1.27-acre retail strip center in Centerton changed hands recently in a $2.4 million deal.

Pahul’s Company LLC, whose members include Pahul Singh and Navneet Kaur, bought the 9,213-square-foot building at 1409 E. Centerton Blvd. The purchase price equals $260.50 per square foot. Willow Crossing Development LLC, managed by Tim Graham II, was the seller.

Batesville-chartered The Citizens Bank backed the deal with a 10-year, $1.59 million loan. City Title & Closing of Fayetteville was the title agent. Third Street Realty Services was the listing agency.

The single-story building was built in 2019 and is 50% occupied with a restaurant and retail business.

KELLER CLAIM
A Class A office building in Fayetteville sold recently for $1.6 million.

1200 North College Fayetteville LLC bought the 6,859-square-foot building at the same address. Redbird Fayetteville Partners LLC, an affiliate of Oklahoma cannabis operator Redbird Bioscience, was the seller. The purchase price equals $233.27 per square foot

Signature Bank of Arkansas backed the deal with a five-year, $1.2 million loan. Mercury Title in Fayetteville was the title agent. Coldwell Banker Harris McHaney Faucette in Fayetteville was the listing agency.

Redbird paid $1.59 million for the single-story building in June 2020. Mark Zweig was the seller. Zweig paid $350,000 for the dilapidated building in 2013, then spent a couple of years renovating the property into a modern office building.

Multiple people are listed as managing members of 1200 North College — Mike Duley, Cameron LaGrone, Tina Johnson, Charis Barker, Lisa Darling and Jody Hendrix. They are all employed by Keller Williams Market Pro Realty in Northwest Arkansas.

Duley said the company will relocate its existing Fayetteville office (3801 Johnson Mill Blvd.) to the College Avenue property this summer.

BENTONVILLE ESTATE
A 6-acre gated estate in north Bentonville has a new owner after a $1.4 million sale.

Natalie and Christopher Pease bought the five-bedroom residence on Mockingbird Lane from Thomas and Judith Terrell.

Waco Title Co. of Springdale was the title agent.  USA Mortgage backed the deal with a 30-year, $960,000 loan.

The home was built in 2002 and includes 6,203 square feet. The property changed hands in July 2016 for $850,000.

DOWNTOWN RESIDENCE
New residential construction in downtown Bentonville sold recently for $1.16 million.

Bentonville STR I LLC, an Austin, Texas, entity registered to Bethany McCullough, bought the two-story home on Northwest Fourth Street. Huffman Residential 404 NW 4th LLC, managed by Brandon Huffman, was the seller.

City Title & Closing of Fayetteville was the title agent. Dee Rodes with Portfolio Sotheby’s International Realty in Rogers represented the buyer and seller.

The residence includes 3,357 square feet, and the purchase price equals $347.30 per square feet. The property includes a detached garage with an upstairs 576-square-foot (included in total square footage) apartment suite, which counts as a fifth bedroom.

Huffman paid $267,000 for the property in August 2020, then razed the previous residence.

SHADOW VALLEY SALE
A 4,655-square-foot residence in Phase V of Rogers’ gated Shadow Valley neighborhood sold recently for $1 million. The purchase price equals $214.82 per square foot.

Eric and Tara Howerton bought the four-bedroom home on West Valley View Road. Chris and Marcy Martinovic were the sellers.

City Title & Closing of Fayetteville was the title agent. Eileen Isola with Berkshire Hathaway Homeservices Solutions in Bentonville represented the seller. Ellie Combs with Better Homes and Gardens Real Estate Journey in Bentonville represented the buyer.

The home was built in 2006. Martinovic paid $615,000 for the 0.35-acre property in July 2018. Darrin and Sandra Robbins were the sellers. Robbins paid $528,500 for the residence in April 2014. Mark and Ana Mizelle were the sellers.

Mizelle paid Chris and Karen Benson $450,000 for the single-story home in November 2009. Benson bought the home in July 2006 for $645,000. PB Enterprises Inc. was 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.