Walton-led nonprofit spends $10 million for 11 acres in Bentonville

A limited liability company led by philanthropist Alice Walton, Richard Hosley, and Scott Eccleston recently paid $10 million for 2812 E. Central Ave. in Bentonville.

Hosley and Eccleston are executives of Art and Wellness Enterprises, which supports the operating nonprofits Walton founded. Walton is the only daughter of Walmart founders Sam and Helen Walton.

Bentonville nonprofit ALWF Lands LLC purchased the 11.5-acre site at the Interstate 49 and Central Avenue interchange. A spokeswoman for Art and Wellness Enterprises confirmed the purchase and said, “There are no immediate plans for the use of the property.”

The seller was Bentonville nonprofit Catalyst Church NWA Inc. City Title & Closing was the title agent.

Nate Sweeney, lead pastor of Catalyst Church, said the church will relocate to 3700 E. Central Ave., a 9-acre site about a half-mile to the east. Plans are still in the works, but the church is planned for 38,000 square feet, or about twice the size of the existing church building, which is approximately 30 years old. Tulsa-based Master’s Plan Church Design & Construction will handle construction and design. The church will remain at its existing location without rent until moving into the new building sometime in 2027.

The existing church site was purchased by Michael Payne and Kimberly Payne for $155,000 in June 2004. The seller was Christian Life Cathedral of Benton County Inc. The Paynes transferred the property to Christian Life Cathedral in September 2004. Christian Life Cathedral transferred the property to Catalyst Church in February 2012.

PEACOCK PURCHASE
Peacock Galactic LLC of Joplin, Mo., recently paid $2.97 million for 10 lots on 1.77 acres in the Apple Crossing addition in Highfill, west of Northwest Arkansas National Airport. The purchase price equals $297,300 per lot.

Schuber Mitchell Homes LLC of Joplin was the seller. Allegiance Title Co. of Fayetteville was the title agent.

First State Community Bank of Columbia, Mo., provided Peacock Galactic, managed by Joseph Harris, with an eight-month mortgage for $2 million.

Four of the lots are on Second Avenue, and six are on Third Avenue. The lots include new single-family homes comprising 1,550 square feet. The homes have four bedrooms, two bathrooms and an attached two-car garage. The lots range from 0.15 to 0.2 acres.

BENTONVILLE RESIDENCE
Darryl Zettle and Mary Zettle are the new owners of a 2,998-square-foot home on Southwest D Street in Bentonville. The Zettles acquired the home for $1.65 million, or $550 per square foot.

The sellers were Derek Dinsmore and Julie Dinsmore. TitleTech of Arkansas LLC in Rogers was the title agent. Rocket Mortgage LLC of Detroit backed the deal with a 30-year, $1.24 million loan.

Built in 2016, the two-story home is on 0.17 acres. In July 2022, the Dinsmores purchased the home for $1.2 million. The seller was Karen C. Mahan, trustee of the Karen C. Mahan Trust.

WEST END ABODE
Douglas Lindsay and Karina Lindsay recently purchased a 4,540-square-foot home in the gated West End neighborhood on Westend Avenue in Centerton for $1.29 million, or $285 per square foot. The sellers were Michael Roberts and Amanda Roberts.

The buyer was represented by Lauren Boozman Northey of Portfolio Sotheby’s International Realty. The seller was represented by Cameron Lagrone of Keller Williams Market Pro Realty – Bentonville. Waco Title Co. of Springdale was the title agent.

Built in 2022, the two-story brick home is on 1.24 acres. It has five bedrooms, four bathrooms, two half-bathrooms and a three-car attached garage.

In April 2021, the Roberts purchased the property for $135,000. The sellers were DWH LLC and HVM Construction Inc. of Bentonville.

Editor’s note: Information in this report was gathered with assistance from the office of Benton County Assessor Roderick Grieve.