Real Deals: Willow Creek building in Springdale sells for $2.6M

by Paul Gatling ([email protected]) 1,629 views 

A 13,424-square-foot medical office building in Springdale changed hands recently for $2.6 million. The purchase price equals $193.68 per square foot.

OZRE Capital bought the two-story building at 5230 Willow Creek Drive. John and Patricia Kendrick were the sellers.

Waco Title Co. in Springdale was the title agent. Pat Morrison and Chuck Dicus with Devereux Real Estate Investments in Rogers represented the buyer. Lee Ward with Realty Concepts in Fayetteville represented the seller.

OZRE is a real estate fund managed by Steve Brooks and Conner Eldridge, partners with Rogers law firm Eldridge Brooks, Tom Gordon and Greg Smart, founders of Fayetteville-based restaurant chain Slim Chickens, and Dewitt Smith, president of Devereux Management Co. in Rogers.

“This is our fourth transaction, and our investments in NWA real estate are currently valued at approximately $50 million,” Eldridge said in a statement.

The Willow Creek property was built in 2009 and has three tenants.

OFFICE INVESTMENT
Three fully leased office buildings in Rogers with multiple tenants sold recently for $1.9 million. The buildings total 18,708 square feet and the purchase price equals $101.56 per square foot.

HKNC Investments LLC, led by Henry Washington and Kezie Odunukwe, bought the buildings at 201 S. 19th St. Hogeye Properties LLC, managed by Cliff Slinkard, was the seller.

First National Bank of NWA financed the deal with a five-year loan worth $1.52 million. Advantage Title in Fayetteville handled the closing. Ashley Joyner with Fayetteville-based Collier and Associates and Odunukwe brokered the deal.

Hogeye paid $2.4 million for the buildings in June 2004.

HEATHROW HOME
A 7,599-square-foot residence in Bentonville’s Heathrow neighborhood has a new owner after a recent sale worth $1.46 million. The purchase price equals $192.78 per square foot.

James and Katherine Thorpe bought the six-bedroom home on Northwest Harvard Walk. Richard and Jessica Toledo were the sellers.

Mississippi-based Cadence Bank backed the deal with a 30-year loan worth $1.39 million. Waco Title Co. of Springdale was the title agent.

Kate Cox with Keller Williams Market Pro Realty in Bentonville represented the seller. Curtis Realty Group with HomeQuest Realty represented the buyer.

The home was built in 2009 and renovated in 2020. Toledo paid $760,000 for the 0.84-acre property in August 2019. William and Summer Hooper were the sellers. Hooper paid $875,000 for the property in March 2016.

PEA RIDGE LAND
The sale of 22 single-family lots in the Sedona Rose subdivision off of Arkansas Highway 94 in Pea Ridge totaled $1.27 million. The purchase price equals $58,000 per lot.

Bentonville homebuilder Constellation Properties, led by Aaron Wilkerson, bought the lots from Riggins Construction and Development Inc. The lots range in size from 0.25 to 0.30 acres.

City Title & Closing of Fayetteville was the title agent. Kendall Riggins with Lindsey and Associates was the listing agent.

Wilkerson said Constellation will start building 18 single-family homes in September ranging from 1,900 to 2,500 square feet. The builder is still finalizing sales prices.

Ben Buergler with First National Bank of NWA arranged construction financing.

VERSAILLE HOME
A 4,124-square-foot residence in Centerton’s Versaille subdivision sold recently for $1.13 million. The purchase price equals $275.70 per square foot.

Brian and Marsha Wadsworth bought the five-bedroom home on Dauphine Court.  Mark and Wendy Walter were the sellers.

Arvest Bank backed the deal with a 30-year loan worth $737,000. Waco Title Co. was the title agent. Mya Adloo with Coldwell Banker Harris McHaney Faucette represented the seller. Sheryl Carman with Coldwell Banker Harris McHaney Faucette represented the buyer.

The home was built on a 1-acre lot in 2015. Walter paid $629,000 for the property in July 2018