Real Deals: Fayetteville School District secures 32 acres for $4.6M

A 31.8-acre land sale in Fayetteville tipped the scales at $4.6 million. The purchase price equals $3.31 per square foot.

Fayetteville School District bought the land at 3145 E. Joyce Blvd. near the Crossover Road intersection. Exdire LLC of Texas, led by David Knox, was the seller.

Waco Title Co. of Springdale was the title agent.

The school district plans to develop the property for a junior high school campus and relocate Woodland Junior High School from East Poplar Street.

LEFLER DEAL
A 2.5-acre office/warehouse development just off U.S. Highway 71 Business in Springdale sold recently for $3.32 million.

Fayetteville asset management firm Lefler Capital, led by T.J. Lefler, bought the property at 1086 Athens Ave. Sasnakra LLC was the seller.

Russellville-based First State Bank backed the deal with a five-year, $3.07 million loan. City Title & Closing of Fayetteville was the title agent. Barry Graves with Weichert, Realtors-The Griffin Co. of Springdale brokered the deal.

The property has two buildings totaling 34,755 square feet. It is divided into 15 spaces and is 100% leased. Most are local independent contractors, all of whom intend to remain under the new ownership.

FAYETTEVILLE APARTMENTS
A 13,536-square-foot apartment complex in Fayetteville sold recently for $2.3 million. The purchase price equals $170 per square foot.

Volunteer Holdings LLC, managed by Donald J. Smith, sold the two-story property at 1705-1758 N. Templeton Place to Templeton Apartments LLC, managed by Ken Hall.

Legacy National Bank of Springdale backed the deal with a three-year loan of $1.75 million. Greg Taylor with Weichert, Realtors-The Griffin Co. of Springdale was the listing agent. Fayetteville-based City Title & Closing was the title agent.

The 0.91-acre development was built in 2005 and has 38 units. Volunteer Holdings paid $1.4 million for the development in 2014.

SPRINGDALE COMMERCIAL
A 9,006-square-foot commercial property just off U.S. Highway 412 east of Interstate 49 in Springdale sold to an investor recently for $1.14 million. The purchase price equals $126.58 per square foot.

Mside Fay LLC, managed by T.J. Lefler, and Ribble Investment Co. LLC, led by R. Alan Ribble, sold the single-story industrial/flex property at 1107 Shaver St. to Fishing Bridge Investments LLC, led by Gregory Von Brown and Sharon Stanley.

Fayetteville-based Signature Bank of Arkansas backed the deal with a three-year loan worth $890,860. City Title & Closing of Fayetteville was the title agent.

Stephanie Farmer with Cushman & Wakefield/Sage Partners in Rogers represented the seller. Jeremy Kennedy with Fayetteville-based Lindsey & Associates was the buyer’s representative.

LEASE ACTIVITY
Glad Manufacturing Co., recently signed a five-year renewal agreement to lease a 402,500-square-foot industrial warehouse at 1101 Easy St. in Rogers.

Stag Rogers 2 LLC owns the 19.5-acre property. Wade Smith with Colliers Arkansas in Rogers represented the landlord. Marshall Saviers with Cushman & Wakefield/Sage Partners in Rogers represented the tenant.

Smith also recently negotiated a lease renewal and expansion for Post Consumer Brands at 202 N. Walton Blvd. in Bentonville. The new seven-year lease will increase the company’s footprint from 7,500 square feet to 8,750 square feet.

Randy Crossno with Capstone Commercial Advisors in Rogers represented the landlord, SH&S Limited Partnership II LLLP.

Real Deals submissions: Submit tips about 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.