Sale of former Times Record building top Sebastian County deal in July

by Michael Tilley ([email protected]) 3,093 views 

A $2.5 million acquisition of the former Times Record building in Fort Smith was the largest Sebastian County property transaction in July. The deal, closed July 20, had Stephens Production selling the long vacant property to a company owned by Brooks Norris.

Norris, president and owner of Norris Group, plans to invest around $2 million to convert the 62,201 square foot building into a corporate headquarters for Norris Group, the parent company of numerous companies he operates in several states. The primary activities of the company are construction and management of apartments.

“We’re building apartments all over the place in multiple states. We have close to $1 billion in projects in the pipeline,” Norris told Talk Business & Politics.

He said about 60 employees will move into the building in about 60 days, with that number “likely to grow” by year end.

One of those employees will be Kelly Clark, a 43-year veteran of Walmart who has for many of those years managed the Bentonville-based retailer’s Zero Street store in Fort Smith. Clark was hired as chief operations officer for Norris Group.

Medical Investments Fort Smith LLC and Able Properties LLC on July 8 bought a medical office building at 2120 S. Waldron Road in Fort Smith for $2.1 million, making it the second largest county deal in July. The property was sold by Green Meadows Properties LLC.

The $9 million sale of an apartment complex in the southwest corner of Grand Avenue and Interstate 540 was the largest Sebastian County property transaction so far in 2022. FS3 Holdings LLC sold the apartment complex at 5901 Kinkead Ave., on June 7 to Rampart Enterprises Inc.

Following are the top 10 July transactions in Sebastian County, according to the Assessor’s office. The list is comprised from deed transfers that include the sale price.

Transaction amount: $2.5 million
Seller: Stephens Production
Buyer: Platinum Building Group LLC (Norris Group)
Sale Date: July 20
Address: 3600 Wheeler Ave., Fort Smith
Description: Commercial

Transaction amount: $2.1 million
Seller: Green Meadows Properties LLC
Buyer: Medical Investments Fort Smith LLC and Able Properties LLC
Sale Date: July 8
Address: 2120 S. Waldron Road, Fort Smith
Description: Commercial

Transaction amount: $1.5 million
Seller: WSD Properties LLC
Buyer: AUZ Traders LLC
Sale Date: July 15
Address: 1425 E. Center St., Greenwood
Description: Commercial

Transaction amount: $850,000
Seller: Ted and Kristi Bowman
Buyer: Dennis and Laura Moser
Sale Date: July 18
Address: Fort Smith
Description: Residential-home

Transaction amount: $600,000
Seller: Brad and Brook Ray
Buyer: Albert R. Snider Living Trust
Sale Date: July 18
Address: Fort Smith
Description: Residential-home

Transaction amount: $536,000
Seller: Andrew and Christina Smith
Buyer: Rachel Nelson
Sale Date: July 22
Address: Charleston
Description: Residential-home

Transaction amount: $517,000
Seller: High Maintenance Investments LLC
Buyer: Venkata Calai
Sale Date: July 18
Address: Fort Smith
Description: Residential-home

Transaction amount: $510,000
Seller: Peggy King-McMullen
Buyer: Michael Adams
Sale Date: July 15
Address: Fort Smith
Description: Residential-home

Transaction amount: $485,000
Seller: Carrington Creek Homes LLC
Buyer: Eric and Anam Nguyen
Sale Date: July 21
Address: Fort Smith
Description: Residential-home

Transaction amount: $475,000
Seller: Bordelon Construction LLC
Buyer: Stacy and Folden Banks
Sale Date: July 6
Address: Fort Smith
Description: Residential-home