Real Deals: Trio of Tontitown buildings change hands for $5M

by Paul Gatling ([email protected]) 739 views 

A three-building commercial project totaling 39,600 square feet in Tontitown sold recently for $5 million. The purchase price equals $126 per square foot.

Mrs Duh Holdings LLC, managed by Melissa Sims and Clinton Anderson, bought the multi-tenant buildings at 246-256 S. Maestri Road. Lots 102 Holdings LLC, whose members also include Sims and Anderson, was the previous owner.

Grand Savings Bank in Fayetteville provided financing with a $3.9 million loan. Waco Title Co. of Springdale was the title agent.

The buildings were built in 2019. Lots 102 Holdings paid $600,000 for the land (4.8 acres) in August 2018.

FAYETTEVILLE LAND
An undeveloped 15-acre lot in Fayetteville sold recently for $4.2 million. The purchase price equals $6.43 per square foot.

Razorback Housing LLC, managed by Carl David Bird Jr., of Florida, bought the land at 920 W. Elm St., east of Garland Avenue. Michael Thomas, Rachel Dupont and The Carolyn Lee Moulton Trust (John Moulton) were the sellers.

Malvern National Bank backed the deal with a five-year loan worth $3.15 million. Mark Thomas of Fathom Realty in Rogers brokered the deal.

GEMINI GRAB
A 13.8-acre industrial property in Lowell sold recently for $4.05 million.

Gemini NW Holdings, whose members include Jim and Holly Harp, bought the property at 121 S. Lincoln St. Naples Tierra LLC, managed by Susan Naples, was the seller.

Grand Savings Bank in Bentonville backed the deal with a $2.22 million loan.

David Erstine and Alex Schemel with CBRE in Fayetteville represented the seller. Barry Graves with Weichert, Realtors-The Griffin Co., in Springdale, represented the buyer.

The property includes a single-story office/warehouse building with 40,390 square feet. It was previously a recycling facility for Oldcastle.

The Harps own Quality Millwork Inc. in Springdale (5556 Market St.) and will use the Lincoln Street property to expand operations.

DIAMONDHANDS DEAL
A 14,472-square-foot commercial building in Springdale sold recently for $1.83 million. The purchase price equals $127 per square foot.

Diamondhands LLC, led by Collin Sanders, bought the building at 3920 Cawood Lane. Middleton Heat & Air, through its LAM Investment Holdings LLC, was the seller.

City Title & Closing of Fayetteville was the title agent. Palmer Hays with Bennett Commercial Real Estate of Rogers brokered the deal.

Middleton will remain the building tenant on a short-term leaseback agreement. The company paid $1.15 million for the 0.82-acre property in July 2021.

SPRINGDALE BUILDINGS
Three commercial buildings totaling 14,065 square feet in Springdale changed hands recently in an investment deal worth $1.82 million. The purchase price equals $130 per square foot.

NWAWHSE LLC, managed by Lyle Wilson, bought the buildings at 1101, 1103 and 1105 Shaver St. MSide Fay LLC, managed by TJ Lefler, and Ribble Investment Company LLC, managed by R. Alan Ribble, was the seller.

City Title & Closing of Fayetteville was the title agent. Palmer Hays with Bennett Commercial Real Estate in Rogers represented the buyer. Stephanie Farmer with Cushman & Wakefield/Sage Partners in Rogers represented the seller.

Hays said Springfield Mechanical Services Inc. is the new tenant of the 1103 building, which was vacant upon closing. Johnson Equipment (1101) and DoorTech Sales & Service (1105) occupy the other two buildings.

FAYETTEVILLE CONDO
A 1,962-square-foot condo in downtown Fayetteville changed hands recently for $1.24 million. The purchase price equals $637 per square foot.

Kevin and Stephanie Wilcox bought the two-bedroom property on North Church Avenue, a half block off Dickson Street. Gumball LLC, managed by Robert G. Bridewell Sr., was the seller.

Waco Title Co. of Springdale was the title agent. Juliana Carlton with Homes & Spaces Real Estate of Fayetteville represented the seller. Mitch Weigel with Downtown Properties Real Estate Group Inc. of Fayetteville represented the buyer.

Bridewell paid $725,000 for the property in October 2021. Niblock Ventures, led by George Niblock Jr., was the seller. Niblock bought the unit in December 2019 for $629,000. Mark Zweig Inc. of Fayetteville was the seller.

Zweig paid $712,500 for the vacant building in May 2016 and renovated it. It’s now called Dickson Square Condominiums, a two-story property with five units, each with their own garage.

The building was built originally in 1965 and designed by architect Warren Seagraves.

CAERLEON CLAIM
A 6,051-square-foot residence in the gated St. Valery Downs subdivision in Cave Springs sold recently for $1.12 million. The purchase price equals $186 per square foot.

Frank and Keri Palladino bought the five-bedroom home on Caerleon Circle. Shaun and Miriam Turner were the sellers.

Eden Mejia-Ashburn with Keller Williams Market Pro Realty in Bentonville represented the seller. Kate Cox with Coldwell Banker Harris McHaney and Faucette in Bentonville represented the buyer. Waco Title Co. of Springdale was the title agent.

The home was built in 2004. Turner bought the 1.16-acre lot in May 2003 from The Arnold D. Lehman Revocable Trust for $75,000.

SPRINGDALE LAND
A 2.03-acre parcel in Springdale changed hands recently for $700,000. The purchase price equals $7.92 per square foot.

The city of Springdale bought the land at 3058 S. 48th St. from the Cherilee Joy Bryan Trust. The land is situated adjacent to the Randal Tyson Recreational Complex and north of St. Nicholas Orthodox Church.

Aaron Hawes with Landmark Real Estate & Investment in Fayetteville represented the seller. Greg Taylor with Weichert, Realtors-The Griffin Co. of Springdale represented the buyer.

The city has no immediate plans to develop the property.

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.