Apartments, Sonic restaurants among top Sebastian County property deals in February

by Talk Business & Politics staff ([email protected]) 2,910 views 

Duplexes near the Arkansas River Valley Nature Center at Chaffee Crossing sold for $7.195 million, making the deal the largest Sebastian County property sale in February, according to the office of Sebastian County Assessor Zach Johnson.

The property was sold by Platinum Building Group, owned Fort Smith-based Norris Group, to Bentonville-based Sanders Properties. The deal closed Feb. 5. Sanders Properties also paid $2.855 million in June 2023 for two apartment properties at 7800 Joseph St., and 1615 Jackson St., in Fort Smith.

The second largest deal was the sale of 4.06 acres adjacent to the McDonalds restaurant on Old Greenwood Road and the Interstate 540 exit 10 ramp. Chris Weeks, owner of Kelley Realty Company, sold the property in a $1.1 million deal to Boston-based Lisciotti Development. Lisciotti works with national franchise operations to find real estate. The deal closed Feb. 8.

There were two deals in February involving the sale of Sonic restaurants. A $943,177 deal closed Feb. 2 for the Sonic at 3100 S. Zero St., and a $708,499 deal closed Feb. 5 for the Sonic at 4730 Grand Ave.

The Zero Street Sonic was sold by Mark Mitchell to Davis Hull & Rowden LLC, and the Grand Avenue location was sold by the Michelle Mitchell Trust to Davis Hull & Rowden LLC. Arkansas-based Davis Hull & Rowden owns Sonic locations in Arkansas, Oklahoma and Tennessee, and owns Slim Chickens locations in Arkansas, Mississippi and Tennessee.

The top 10 Sebastian County property deals in February had a combined deal value of $12.991 million. The top 10 deals for each month in 2023 totaled $103.704 million. The largest deal in 2023 was the $5.7 million sale of Southbrooke apartments on 8201 U.S. 271 S., in Fort Smith. A $20.387 million sale of the new Veterans Affairs Clinic in Fort Smith and associated property was the largest Sebastian County property deal in 2022.

Following are the top 10 February transactions in Sebastian County, according to the Assessor’s office. The list is comprised from deed transfers that include the sale price.

FEBRUARY PROPERTY TRANSACTIONS
Transaction amount: $7.195 million
Seller: Platinum Building Group LLC
Buyer: Sanders Properties LLC
Sale Date: Feb. 5
Address: Chanel Place, Fort Smith (Chaffee Crossing)
Description: Residential-apartments

Transaction amount: $1.1 million
Seller: Century Drive Developers LLC (Kelley Realty Co.)
Buyer: Fort Smith CFA LLC (Lisciotti Development)
Sale Date: Feb. 8
Address: Old Greenwood Road/Century Drive, Fort Smith
Description: Commercial

Transaction amount: $943,177
Seller: Mark Mitchell
Buyer: Davis Hull & Rowden
Sale Date: Feb. 2
Address: 3100 S. Zero St., Fort Smith
Description: Commercial-restaurant

Transaction amount: $708,499
Seller: Michelle Mitchell Trust
Buyer: Davis Hull & Rowden
Sale Date: Feb. 5
Address: 4730 Grand Ave., Fort Smith
Description: Commercial-restaurant

Transaction amount: $575,000
Seller: Brooks Norris Farms LLC
Buyer: Mark Watson and Daniel Cochran
Sale Date: Feb. 9
Address: Fort Smith
Description: Residential-home

Transaction amount: $569,000
Seller: Carrington Creek Holdings LLC
Buyer: Tyler McKee
Sale Date: Feb. 9
Address: Fort Smith
Description: Residential-home

Transaction amount: $562,000
Seller: Paul and Bridget Langston
Buyer: Ethan and Cynthia Akin
Sale Date: Feb. 2
Address: Fort Smith
Description: Residential-home

Transaction amount: $475,000
Seller: Timothy Rainwater
Buyer: Anedolidhui LLC
Sale Date: Feb. 2
Address: 7004 S. Frenso St., Fort Smith
Description: Commercial

Transaction amount: $449,900
Seller: Randy and Toni Rundell
Buyer: Steven and Constance Vincent
Sale Date: Feb. 12
Address: Greenwood
Description: Residential-home

Transaction amount: $414,000
Seller: Rouse-Walker Properties Inc.
Buyer: Stephanie and Leonard Moore
Sale Date: Feb. 15
Address: Fort Smith
Description: Residential-home