Real Deals: Buffington builds in Springdale’s Cottages at the Park

by Paul Gatling ([email protected]) 1,891 views 

A Fayetteville homebuilder closed a deal to buy 27 lots in Benton County for $2.02 million.

Buffington Homes of Arkansas, led by Clay Carlton, bought the lots in Phase II of the Cottages at the Park neighborhood. The site is at the corner of West County Line Road and South Downum Road, adjacent to Shaw Family Park on Springdale’s northwest side.

Springdale custom homebuilder Landmarc Custom Homes, led by Tim Boudrey, was the seller.

City Title & Closing of Fayetteville was the title agent.

Landmarc paid $916,000 for the land (47.5 acres) in March 2018.

‘WHATA’ DEAL
A North Carolina investor paid $1.9 million for a new retail ground lease development in Siloam Springs.

JFS Holdings LLC bought the 3,751-square-foot building at 2690 E. U.S. Highway 412. The purchase price equals $506.53 per square foot. Madison Capital Group LLC, managed by Ryan Hanks, was the seller.

Texas burger chain Whataburger leases the 1.25-acre property on a 15-year absolute net ground lease. Construction is nearing completion, and the restaurant will open soon.

JFS bought the property at a 4.5% cap rate.

KUM & GO CLAIM
A national retail chain is planning a new development along U.S. Highway 71 (West Walnut Street) in Rogers following two deals worth $1.85 million.

Iowa-based Kum & Go bought two parcels totaling 1.91 acres at the southeast corner of the intersection of West Walnut and South 28th streets. Elvis and Janice Moody sold the former Stockdale Funeral Services property (3,892 square feet) for $900,000. The McKinney Group Inc., led by Brandi McKinney, sold an adjacent 5,510-square-foot office building for $950,000.

Waco Title Co. of Springdale was the title agent.

Kum & Go will raze the structures and develop the site to include a 3,968-square-foot store with multiple fueling pumps. The store will operate 24 hours a day, seven days a week.

Ozark Civil Engineering Inc. in Bentonville is the civil engineer.

CLEAR CREEK RESIDENCE
A 7,350-square-foot residence at Blessings Golf Club inside Phase II of Johnson’s gated Clear Creek neighborhood sold recently for $1.22 million. The purchase price equals $167 per square foot.

T&B White Family Trust, led by Taylor and Brooks White, bought the five-bedroom home on Jean Lane from Matt and Jessica Dearnley.

Waco Title Co. was the title agent. Mary Bassett with Bassett Mix & Associates of Fayetteville brokered the deal.

Dearnley paid $155,000 for the 0.6-acre lot in 2004; the home was built in 2006.

SPRINGDALE OFFICE
A 6,170-square-foot office building in Springdale has a new owner after a recent sale worth $1.12 million. The purchase price equals $181.52 per square foot.

Good Shepherd Holdings LLC, whose members include Chip and Lory Brown, bought the vacant two-story building at 3895 George Anderson Road. Burrell Inc. was the seller, successor by a merger with Youth Bridge Properties Inc.

City Title & Closing of Fayetteville was the title agent. Regions Bank backed the deal with a 10-year loan worth $896,000.

Clinton Bennett and Cameron Clark with Bennett Commercial Real Estate in Rogers represented the seller.

The Browns own Good Shepherd In-Home Senior Care and will use the building for their company offices.

Youth Bridge paid $1.28 million for the 3.4-acre property in August 2009. One Springdale Inc., led by Philip Taldo and Gary Griffin, 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.