Real Deals: 110 acres of Benton County pastureland sells for $7.5 million

More than 110 acres of pastureland west of Centerton in Benton County recently changed hands in separate transactions for a combined $7.59 million. The purchase price equals $68,701 per acre.

EBGB Investments LLC, managed by Ed Blalock, bought 110.55 acres northwest of Arkansas highways 102 and 279. The property included a pole barn and a 1,320-square-foot, single-family home built in 1963.

The seller was Coughlin Family LLC, managed by Cynthia H. Coughlin. EBGB Investments is owned by Springdale-based homebuilder Sunrise Homes. City Title & Closing LLC in Fayetteville was the title agent.

Benton County Office
A 6,693-square-foot office building in downtown Bentonville has a new owner after a sale worth $6.5 million. The purchase price equals $971 per square foot.

Moro Development Co., managed by Buddy Philpot, purchased 201 N.E. Second St. comprising Benton County Circuit Court Division II. Philpot is senior family adviser for Walton Enterprises in Bentonville.

The seller was Benton County, led by County Judge Barry Moehring. The two-story building sits on 0.31 acres. The transaction also included an adjacent 0.31-acre parking lot. Waco Title Co. in Springdale was the title agent.

Commercial Space
More than 48,000 square feet of commercial space on U.S. Highway 412 in Springdale recently sold for $4.55 million. The purchase price equals $94 per square foot.

Shrewsbury, N.J.-based SRS Emily LLC, led by Christopher Stout, bought 1810, 1840 and 1860 W. Sunset Ave. and 1772 and 1776 W. Sunset Ave. The properties, located north of Sunset Avenue (Highway 412) and west of South West End Street, comprise 48,192 square feet of office, shopping center and warehouse space. The single-story buildings, built from 1974 to 2001, range from 2,400 to 13,260 square feet.

The seller was Five Forty Properties LLC, managed by Aaron Burkes, the CEO of Northwest Arkansas National Airport. City Title & Closing LLC in Fayetteville was the title agent. In August 2014, Five Forty Properties acquired the property as part of a larger acquisition for $2.5 million. Mathias Shopping Centers Inc. of Springdale was the seller.

Car Wash
A 3,960-square-foot tunnel car wash in Pea Ridge sold recently for $4.54 million. The purchase price equals $1,146 per square foot.

Highcroft Commons LLC and Lil Black Creek Farm LLC of North Carolina bought 323 Slack St., comprising a Splash Car Wash built on 1.13 acres in 2024. Highcroft acquired a 35% interest in the property, while Lil Black Creek Farm has a 65% interest.

The seller was Splash Pea Ridge LLC, managed by Drew Holbert, principal and vice president of brokerage at Colliers Arkansas in Little Rock. City Title & Closing LLC in Fayetteville was the title agent.

Bentonville Hotel
A 102-room hotel in Bentonville, north of Northwest Arkansas National Airport, recently sold for $4 million. The purchase price equals $39,215 per room.

Magness Hospitality Bentonville Airport LLC, managed by Benny Magness of Gassville, bought the four-story, 60,566-square-foot Wingate by Wyndham Bentonville Airport at 7400 S.W. Old Farm Boulevard. The hotel, which has been undergoing renovations, was built on 2.53 acres in 2005.

The seller was MAM Hospitality LLC, whose managing members are Jeffrey Magness and Murad Mandani. Fayetteville-chartered Arvest Bank provided a one-year, $6.5 million loan.
In June 2016, MAM Hospitality purchased the property for $2 million. The seller was Aero Airport Investors LLC.

Big Red Barn
A 16.52-acre property comprising Fayetteville event venue The Big Red Barn was recently acquired for $3.72 million. The purchase price equals $225,484 per acre.

Travis M. Ruff and Cynthia K. Taylor purchased 3287 N. Rupple Road, which includes the 9,567-square-foot venue, built in 2017, and a 576-square-foot single-family home, built in 2016. The seller was CIRQUE551 LLC, managed by Donald Dean King and Charlotte King of Fayetteville.

City Title & Closing LLC in Fayetteville was the title agent. In January 2015, the Kings purchased the property for $465,000. The seller was Simmons First National Bank.

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