Real Deals: CarMax claims Rogers land for 1st Arkansas superstore

A 17.4-acre land sale east of Interstate 49 in Rogers’ Pleasant Crossing area closed recently for $5.16 million. The purchase price equals $6.82 per square foot.

CarMax Auto Superstores Inc. bought the property at 6360 S. Dixieland Road, just north of the Lowell city limits. PWX LLC, an affiliate of Whisinvest Realty of Little Rock, was the seller.

Allegiance Title Co. was the title agent. Steve Lane with Colliers Arkansas in Rogers represented the buyer. Burke Larkin with Whisinvest represented the seller.

Used-vehicle retailer CarMax, the largest buyer and seller of used cars in the U.S., will develop the site as the company’s first superstore in Arkansas. CarMax operates nearly 250 stores in 41 states nationwide.

“This was a great fit for the buyer,” Lane said. “We knew Pleasant Crossing was meant for a large retailer like CarMax. The future growth of this area is unbelievable, and it’s exciting that Colliers Arkansas can be a part of making it happen.”

DOWNTOWN BENTONVILLE RESIDENCE
A 4,183-square-foot custom home in downtown Bentonville sold recently for $2.35 million. The purchase price equals $563 per square foot.

Voltz Interests LLC, a Texas entity, bought the two-story home on Northeast Second Street east of the downtown square. Jeff and Tammy Mores were the sellers.

The Funk Group with Engel & Volkers in Bentonville brokered the deal. Allegiance Title Co. was the title agent.

Homes of Distinction, a Bentonville custom homebuilder, built the home in 2016. Mores paid $863,000 for the 0.45-acre property that summer.

ROGERS COMMERCIAL
A 19,224-square-foot commercial building in Rogers changed hands for $2.1 million. The purchase price equals $109.23 per square foot.

Ingui Land Holdings LLC, led by Lucas Ingui, bought the 1.93-acre property at 2005 N. 13th St. Faith Builders Family Church, led by Tim Horton, was the seller.

Arvest Bank backed the deal with a three-year loan worth $1.68 million.  Waco Title Co. of Springdale was the title agent. Dan Smith with Colliers Arkansas in Rogers represented the buyer. Sharon Pickens with Arkansas Homes & Land Realty represented the seller.

Ingui Art will be relocating their custom cabinet business to Rogers from 5180 N. Oak St. in Springdale.

ELM SPRINGS ESTATE
A 2.19-acre estate in Elm Springs with 12,230 square feet of living space changed hands recently for $1.95 million. The purchase price equals $159 per square foot.

Christy L. Rutledge, trustee of the Christy L. Rutledge Revocable Trust, bought the eight-bedroom residence on Churchill Downs Drive. Jesse Taylor was the seller.

The Limbird Team with Limbird Real Estate Group in Rogers represented the seller. Christopher Dinwiddie with The Exclusive Real Estate Group in Fayetteville represented the buyer. Harbor Closing Co. in Rogers was the title agent.

The home was built in 2007. Taylor paid Sam and Kelly Rothschild $1.75 million for the property in June 2022. Rothschild paid Derek Collison $1.4 million for the property in December 2016.

Collison paid Michael and Karyn Bournival $1.6 million for the residence in December 2009.

CLEBURNE CLAIM
A 5,626-square-foot commercial building west of Interstate 49 in Tontitown changed hands for $1.5 million.

Cleburne County Partners LLC, led by Renae Estes, bought the 1.6-acre property at 1161 W. Henri De Tonti Blvd. Callmax LLC, managed by Michael Callahan and Clay Maxey, was the seller.

Central Bank in Little Rock backed the deal with a $1.5 million loan. Waco Title Co. was the title agent.

Callmax paid $1.19 million for the building in 2019. It formerly was an auto dealership, Clay Maxey NWA, which closed this fall.

SPRINGDALE INDUSTRIAL
A Springdale industrial property with 11,126 square feet sold recently to a regional end user for $1.35 million. The purchase price equals $121.33 per square foot.

Greenway Real Estate Investment Holdings, managed by R. Trent Curry, bought the two-building warehouse property at 1001-1010 Schmieding Ave. Advanced Capital Development LLC, led by Frederick Dunn, was the seller.

Cameron Clark and Palmer Hays with Bennett Commercial Real Estate in Rogers represented the seller. Jason Trenary with Capstone Commercial Advisors in Rogers represented the buyer.

Waco Title Co. was the title agent. Academy Bank of Kansas City, Mo. backed the deal with a $1.08 million loan.

Trenary said the new owner is an investor who is offering the building for lease. Capstone is marketing the property.

LEASE ACTIVITY
A franchisee for a Texas-based bakery chain has signed a leasing agreement for 1,659 square feet at The Crossings retail development in Springdale.

Pig Town Bakeries Two LLC, managed by Joel and Shannon Neece, is the franchisee for Nothing Bundt Cakes.

The Crossings is at the southwest corner of Gene George Boulevard and West Sunset Avenue (U.S. Highway 412) west of Interstate 49. It will include multiple commercial buildings ranging from 6,000 to 8,000 square feet. C.L. George & Sons LP, led by Gary George and Cathy George Evans, is the owner/developer.

Mason Wood and Alan Cole with Colliers Arkansas in Rogers represented the landlord in the lease agreement. Greg Stanislawski of The Retail Strategy Real Estate Group in Texas represented the tenant.

“The retail center at The Crossings development is nearly complete,” Wood said. “Great and exciting things are coming to this side of town and Nothing Bundt Cakes will flourish from this location.”

Founded in 1997 and based in Addison, Texas, Nothing Bundt Cakes is a franchisor of gourmet bakeries offering specialty Bundt cakes and related merchandise items. Roark Capital, an Atlanta-based private equity firm, is the owner.

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.