Real Deals: Missouri buyer orders up Burger King investment in Bentonville

by Paul Gatling ([email protected]) 131 views 

A 3,014-square-foot retail building in Bentonville’s Commerce Centre development recently sold for $2.2 million, or $729.92 per square foot.

Curtis Jared, a commercial real estate investor in Springfield, Mo., bought the single-story building at 1700 S. Walton Blvd. The Christoffers Revocable Trust, led by trustee Debra Christoffers, was the seller.

Guaranty Bank in Springfield, Mo., backed the deal with a $1.32 million loan. City Title & Closing of Fayetteville was the title agent.

The single-story building was built in 2000 and remodeled in 2015. It is triple-net leased to Burger King, which has approximately 11 years left on a 20-year lease. The building sold with a cap rate of 6.56%. The restaurant is operated by a franchisee.

In 2019, Christoffers paid $2.57 million for the property, which equaled $852.68 per square foot. Kwangho Taehee LLC, managed by Kwang Ho Cha, was the seller.

BEAVER LAKE ABODE
A 2,728-square-foot residence on Beaver Lake in Benton County sold recently for $1.32 million. The purchase price equals $468 per square foot.

Stan and Kelly Fulk bought the three-bedroom residence on Ravenshoe Road. Erin Kyle was the seller.

HSBC Bank USA of New York backed the deal with a 30-year, $993,750 loan. Harbor Closing & Title of Rogers was the title agent. The Limbird Team with Limbird Real Estate Group of Rogers represented the buyer. Jan Holland with Coldwell Banker Harris McHaney & Faucette of Bentonville represented the seller.

The 1.16-acre development was built in 2008. It includes a private boat dock with four slips. Kyle paid $1.1 million for the property in December 2022. Josh and Shannon MacNeel were the sellers. MacNeel paid $90,000 for the land in March 2007. Marc and Brenda Riney were the sellers.

Riney paid $75,000 for the lot in March 2004. Will and Libby Green were the sellers.

PINNACLE RESIDENCE
A 5,858-square-foot residence inside the gated Pinnacle Country Club neighborhood in Rogers sold recently for $1.3 million. The purchase price equals $222 per square foot.

Casey and Brittany Flippo bought the five-bedroom home on West Champions Boulevard. Barnes Ventures LLC, led by Rodney Barnes, was the seller.

Central Bank in Little Rock backed the deal with a 30-year, $1.28 million loan. Advantage Title in Bentonville was the title agent. The Limbird Team with Limbird Real Estate Group in Rogers was the listing agent. Jackson Hogue with Collier & Associates in Fayetteville represented the buyer.

Camelot Construction built the home in 2006 on a 0.37-acre lot. Barnes Ventures paid $1 million for the property in September 2021. Michael Cattaneo was the seller. Cattaneo bought the residence in September 2017 for $649,000. National Equity Inc. was the seller.

HUDSON HOLDINGS
Commercial acreage north of West Hudson Road (Highway 62) near the entrance to Lost Springs Golf & Athletic Club in Rogers sold recently for $1.2 million.

Knuckleheads Investments LLC, a Texas company, bought the 2.57-acre site, which is bordered to the west by North 23rd Street and to the east by North 22nd Street. Ashley Rehabilitation and Health Care Center is to the north.

Louis and Shannon Froud were the sellers. The purchase price equals $10.72 per square foot.

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.