Real Deals: Highway 264 land in Lowell sells for $4.3M

A 49.3-acre land sale in Lowell west of Interstate 49 tipped the scales at $4.31 million. The purchase price equals $2.01 per square foot.

Dallas-based developer Bridger Cos. bought the undeveloped property at the southwest corner of Zion Street and Arkansas Highway 264. The John & Reta Mae Remington Revocable Trust was the seller.

Forrest City-based Armor Bank backed the deal with a two-year loan worth $3.27 million. City Title & Closing of Fayetteville was the title agent. Salmonsen Group Realtors with Keller Williams Market Pro Realty in Bentonville represented the buyer and seller in the transaction.

Bridger develops and operates residential communities and plans to improve the land for that purpose.

AT&T ACQUISITION
A 6,720-square-foot commercial building in Springdale sold recently for $2.6 million. The purchase price equals $387 per square foot.

AW Feng Investments LLC, led by An Wei Feng, bought the single-story building at 4489 W. Sunset Ave. Starmax AR Wireless LLC of Florida was the seller.

Arvest Bank backed the deal with a two-year loan worth $1.85 million. Waco Title Co. of Springdale was the title agent. Matt Strom (seller) and Jordan Jeter (buyer) with Kelley Commercial Partners in Springdale brokered the deal.

The property is triple-net leased to AT&T.

RETAIL SALE
A 15,008-square-foot retail center in Rogers changed hands recently for $2.1 million. The purchase price equals $140 per square foot.

Storm Properties LLC, managed by Scott Foster, bought the recently renovated building at 2511 N. Second St. Warrington LLC, an affiliate of Colliers Arkansas in Rogers, was the seller.

The First National Bank of Fort Smith backed the deal with a five-year loan worth $500,000. Waco Title Co. of Springdale was the title agent. Steve Lane and Tom Rystrom of Colliers Arkansas represented the seller. Mindy Foster with Collier & Associates of Fayetteville represented the buyer.

Colliers formed an investment group to purchase the property in February 2021 for $1.37 million. It’s now 100% leased. Tenants include State Farm, Onin Staffing, Improvyze, Tekilas Bar & Grill and others.

SUNSET SALE
A 4,190-square-foot residence near Donald W. Reynolds Razorback Stadium in Fayetteville has a new owner after a sale worth $1.3 million. The purchase price equals $310 per square foot.

Sid Pickle, through his SSP Investments LLC, bought the residence on West Sunset Place. George Niblock Jr., through his Niblock Ventures Inc., was the seller.

Robin Collins with Weichert, Realtors-The Griffin Co. represented the seller. Amanda Gainey with Concierge Realty NWA represented the buyer.

Niblock bought the house in 2021 for $775,000 and undertook a complete renovation. The house was originally built in 1986 by the late Charles Scharlau, the former chairman, president and chief executive officer at Southwestern Energy Co.

Real Deals submissions: Email Paul Gatling at [email protected] with tips about Northwest Arkansas lease activity, construction, transactions, or upcoming projects valued at $300,000 or more. Please write ‘Real Deals’ in the subject line.