Real Deals: Dallas REIT acquires Centerton self-storage for $3.5M

A 4-acre self-storage facility in Centerton changed hands recently for $3.5 million.

AMR REIT of Dallas bought the property at 550 W. Centerton Blvd. J. Richard Murphy Jr., John Goodson and 2 Under LLC, led by Johnathan Sheppard, were the sellers.

Arvest Bank backed the deal with a five-year loan worth $2.2 million.

The Class A storage facility was built in 2003 and has 42,089 rentable square feet. It includes 313 units of various sizes and 48 rentable surface parking spaces.

The facility was 91% occupied when it sold.

SILOAM SPRINGS ACREAGE
A 75.1-acre parcel in Siloam Springs sold recently for $2.5 million. The purchase price equals $0.76 per square foot.

RGBS Airport North Development LLC, led by Brandon Sewell, bought the property at 15524 S. Highway 59, near the city’s Smith Field Airport, north of the U.S. Highway 412 intersection. Highpockets LLC, managed by Robert Sample, was the seller.

Delton Williams with Crye-Leike Realtors in Gentry brokered the deal.

Highpockets paid $1 million for the land in April 2008.

ROGERS LAND
A 7.59-acre land sale east of Interstate 49 in Rogers changed hands for $1.77 million. The purchase price equals $5.36 per square foot.

PAV Holdings LLC, a Delaware-registered entity, bought the property at 4007 W. Arapaho Drive, north of New Hope Road. First United Pentecostal Church of Rogers Arkansas Inc. was the seller.

Dan Smith with Colliers Arkansas in Rogers represented the seller. Matthew Greer with RG Real Estate Services in Bella Vista represented the buyer.

LINCOLN INDUSTRIAL
A 7.8-acre industrial property in Lincoln changed hands recently for $1.65 million.

St. Louis-based Millman Lumber Co. bought the property at 2265 E. Pridemore Drive. Latta Land Co., led by Charles Davidson, was the seller.

Jason Keeling and Steve Fineberg of Steve Fineberg and Associates in Bentonville brokered the deal. City Title & Closing of Fayetteville was the title agent.

The property was part of the former Latco Truss headquarters. It includes seven buildings totaling 53,300 square feet.

WEST END RESIDENCE
A 4,950-square-foot residence in Centerton’s gated West End neighborhood sold recently for $1.32 million. The purchase price equals $267.67 per square foot.

Bradley and Susan Sutton bought the West End Avenue home from Sean-Michael and Brenna Callahan.

DAS Acquisition Company of St. Louis backed the deal with a 30-year, $726,200 loan. Waco Title Co. of Springdale was the title agent. Colliers & Associates Realtors Dana Reynolds (seller) and Caleb Bailey (buyer) brokered the deal.

The five-bedroom home was built on 1.2 acres in 2022. Callahan paid $1.12 million for the residence in June 2022. Shannon McElfish was the sellers.

McElfish paid Landon and Kylee Fisher $143,000 for the lot in May 2021.

DOWNTOWN BENTONVILLE
A 4,200-square-foot residence in downtown Bentonville sold recently for $1.3 million. The purchase price equals $310 per square foot.

Oommen and Neetu Thomas bought the four-bedroom home on Southeast Fifth Street. Next Road Investments LLC, led by Gloria Harris, was the seller.

Unify Financial Federal Credit Union of California backed the deal with a 30-year, $1.04 million loan. Waco Title Co. of Springdale was the title agent.

Dee Rodes with Portfolio Sotheby’s International Realty in Rogers represented the seller. Starr Arellano with Youngblood Real Estate represented the buyer.

Construction of the two-story home was completed earlier this year.

LOWELL LAND
A 1.29-acre land sale east of Interstate 49 in Lowell registered $545,000. The purchase price equals $9.70 per square foot.

Lowell Family Medical Properties LLC, led by Caleb Gaston and Robert Wilson III, bought the parcel on North Dixieland Road. Northwest Holdings LLC, managed by Jimmy Dill, was the seller.

Searcy-chartered First Security Bank backed the deal with a one-year, $463,000 loan. Ben Salmonsen with Salmonsen Group Realtors of Keller Williams Market Pro Realty in Bentonville was the listing agent. Jason Smith with Smith & Associates Real Estate Services of Fayetteville represented the buyer.

Gaston and Wilson are Northwest Arkansas physicians. They plan to build a family medical practice at the site.

PROMENADE PROPERTY
A vacant property along Promenade Boulevard in Rogers changed hands recently for $420,000.

7th of September LLC, led by Taye Jones, bought the 1.08-acre property at 303 S. Promenade Boulevard, just south of the Walnut Street intersection. Oakley Chapel United Methodist Church (203 S. Promenade Blvd.) was the seller.

Arvest Bank provided financing, and City Title & Closing was the title agent. Jared Smith with Gibson Real Estate in Rogers was the listing agent. Margie Moldenhauer with RE/MAX Associates in Fayetteville represented the buyer.

Jones, a Pine Bluff native who works remotely in Northwest Arkansas for Microsoft Corp., said he is in discussions with the city to develop the property for residential use. The parcel is adjacent to the Turtle Creek Trail and includes two structures — a brick storage building and a 1,635-square-foot residence that was once the church parsonage.

Jones said the structures will be remodeled in two phases.

Real Deals submissions: Submit tips about Northwest Arkansas 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.