Real Deals: Elliott Electric expanding Springdale location
by February 23, 2023 1:54 pm 1,182 views
The city of Springdale recently issued a building permit valued at $3.18 million to Commerce Construction Co. of Springdale.
Commerce is using the permit to build a 40,016-square-foot warehouse addition for Elliott Electric Supply at 537 N. 40th St. Elliott is headquartered in Nacogdoches, Texas, and has over 170 locations with annual sales of $1.5 billion.
AMBER RIDGE ABODE
A 4,300-square-foot residence in Bentonville’s Amber Ridge at Woods Creek neighborhood changed hands for $1.02 million. The purchase price equals $238.37 per square foot.
Garrett and Christina Eidson bought the five-bedroom residence on Northeast Marina Drive. John and Jennifer Frank, trustees of the Third Floor Revocable Trust, were the sellers.
Waco Title Co. of Springdale was the title agent.
Curtis Realty Group with HomeQuest Realty in Rogers represented the seller. Sherry Hardie with Coldwell Banker Harris McHaney Faucette in Rogers represented the buyer.
JE Custom Homes of Rogers, led by Jonathon Enderle, finished construction of the residence on 1.12 acres in 2016. Frank paid $581,000 for the property in March 2016.
‘BEST’ BUY
A 23.63-acre residential property in Tontitown sold recently for $900,000.
Best Choice Holdings LLC, led by Robert C. Norman Jr., bought the property on Liberty Avenue. The Robert E. Pianalto Revocable Trust, whose trustees include, Sidney Pianalto, Scott Pianalto and Tina McDonald, was the seller.
Oklahoma-based Armstrong Bank backed the deal with a one-year loan of $765,000. Liberty Title & Escrow of Arkansas in Fayetteville was the title agent. Clint and Allison Penzo with Re/Max Associates in Fayetteville were the listing agents. Aaron Hawes with Landmark Real Estate & Investment in Fayetteville represented the buyer.
The property includes a 2,470-square-foot residence and multiple mobile homes and shop buildings. The new owner intends to sell the residence and subdivide the remaining acreage into residential estate tracts.
112 BUILDING
A 1.32-acre commercial property in Fayetteville sold recently for $775,000.
Kubald Ventures LLC, a real estate holding company led by Brandon Sebald, bought the property at 3538 N. Highway 112 near the intersection of Van Asche Drive. Grass Roots Landscaping LLC, whose members include Tanner Bassett and Kenn Hanle, was the seller.
First Security Bank in Fayetteville backed the deal with a two-year loan worth $775,000. Allegiance Title Co. in Fayetteville was the title agent.
Bassett and Hanle own and manage the 4,200-square-foot building’s previous tenant, Grassroots, a full-service landscape maintenance company. Hanle said the business has relocated to 3582 N. Highway 112.
After minor renovations, Sebald will use the building for office space to house two of his business ventures — Rare Bird Builders and Brew Crew, a 7 Brew Coffee franchise.
Brew Crew has the rights to open at least 75 new 7 Brew locations in Missouri, Arkansas, Louisiana and Texas. The company will open its 10th store this spring.
Sebald said he is working with Olsson civil engineers to develop 0.75 acres of the parcel to include mixed-use warehouse space of up to 10,000 square feet.
“We hope to have that leasable within 12 months,” Sebald said. “The uptown Fayetteville area has very little vacant space like this.”
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.