Real Deals: Pediatric provider pays $5.8M for Bentonville’s Agility Center

by Paul Gatling ([email protected]) 1,019 views 

A 30,636-square-foot medical office building in Bentonville has a new owner-user after a $5.8 million sale. The purchase price equals $189.31 per square foot.

Children’s Therapy Services Inc., led by Kym Hannah, bought the two-story Agility Center building at 1500 S. 28th St. MLC Inc., led by Ann McKenzie, was the seller.

Arvest Bank backed the deal with a five-year loan worth $4.6 million. City Title & Closing was the title agent.

Hannah is co-founder and CEO of Children’s Therapy T.E.A.M., an outpatient pediatric therapy provider in Northwest Arkansas.

“We have called the Agility Center rehabilitation building home since 2015, so purchasing and expanding the space feels really natural,” Hannah said. “The purchase allows us to bring our three Bentonville clinics into the same complex.”

The Agility Center houses the region’s only warm water pediatric therapy pools, pediatric physical therapy gyms, orthotics and equipment area, and functional play therapy space. Expansion will include the addition of fully accessible Activities of Daily Living (ADL) suites, a feeding and swallowing lab and pediatric treatment rooms.

WEDINGTON LAND
The last undeveloped parcel on Fayetteville’s busy Wedington Drive retail corridor west of Interstate 49 is off the market after a recent sale worth $4.9 million.

AFT Development LLC, managed by Kenneth V. Smith, bought 10.38 acres on West Wedington Drive. The purchase price equals $10.84 per square foot. The property is across the street from Ozarks Electric Cooperative corporate headquarters. Wedington Place LLC, managed by Joseph E. Terminella Sr., Frank Terminella and Manny Terminella, was the seller.

Arvest Bank backed the deal with a one-year loan worth $5.76 million. Philip Schmidt and Matt Strom with Kelley Commercial Partners in Springdale represented the seller and the buyer.

The new owner plans to subdivide the land into eight separate lots, most with Wedington frontage and develop them into freestanding retail uses. Several lots are already under contract and one pending ground lease.

DOWNTOWN BENTONVILLE
A 3,264-square-foot residence on a 0.17-acre lot in downtown Bentonville sold recently for $1.72 million. The purchase price equals $528.49 per square foot.

Jeffrey and Caroline Schneider bought the two-story residence on Southwest D Street from Marisa and Brian Murphy.

City Title & Closing of Fayetteville was the title agent. Nicky Dou with Collier & Associates in Bentonville was the listing agent. Dee Rodes with Portfolio Sotheby’s International Realty in Rogers was the buyer’s agent.

The five-bedroom home was built in 2016. The property also includes a 542-square-foot guest apartment. Murphy paid $825,000 for the property in May 2019.

MAIN STREET RESIDENCE
New residential construction on a 0.17-acre lot in downtown Bentonville sold recently for $1.46 million.

JGSherman LLC, led by Jackie Sherman, bought the 3,939-square-foot residence on North Main Street. The purchase price equals $372.53 per square foot. Brandon Huffman, through his Huffman Residential 104 NE Park LLC, was the seller.

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

The four-bedroom home was built in 2022. Huffman paid $205,000 in October 2020 for the existing residence. It was razed for the new construction.

PRAIRIE GROVE PROPERTY
A 3,089-square-foot residence on 17.7 acres in Prairie Grove changed hands recently for $1.22 million. The purchase price equals $397 per square foot.

Zachary and Katherine Hollowell bought the home on Doc Hall Road from Crawley Cattle Co. LLC, managed by Justin Crawley.

Lauren Boozman Northey with Portfolio Sotheby’s International Realty in Rogers represented the seller. Mindy Foster with Collier & Associates in Farmington represented the buyer. Waco Title Co. of Springdale was the title agent.

Among the property’s other structures are an insulated equestrian barn with 15 stalls, tack and feed room and Olympic-sized 200-foot-long by 70-foot-wide arena.

Crawley paid $242,500 for the land ($0.31 per square foot) in February 2020. James and Kayvonne Primm were the sellers. The four-bedroom home was built in 2021.

STEELE SALE
A 1.2-acre commercial lot in Fayetteville sold recently for $1.17 million. The purchase price equals $22.50 per square foot.

3956 N Steele Blvd LLC bought the property at that address, which is an outparcel of the Malco Razorback Cinema. Lightman Fayetteville Co LLC, an affiliate of Michael Lightman Realty Co. of Memphis, Tenn., was the seller.

Chris Allcorn with Specialized Real Estate Group of Fayetteville was the listing agent. Lenders Title Co. of North Little Rock was the title agent.

The buyer is an affiliate of KPOP Korean BBQ and Bar, a woman-owned business led by restaurateur and chef Jae Yim Shim. The company will develop the Fayetteville site for its third KPOP location.

MARKHAM HILL ABODE
A 2,844-square-foot residence in a new Fayetteville neighborhood on Markham Hill near the University of Arkansas campus sold recently for $975,000. The purchase price equals $342.82.

Leslie Belden bought the four-bedroom home on North Cross Avenue just west of Donald W. Reynolds Razorback Stadium. Specialized Real Estate Group of Fayetteville, the neighborhood developer, was the seller.

John Carpenter with Lindsey & Associates in Fayetteville represented the seller. Martha C. Haguewood with Lindsey & Associates represented the buyer.

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.