Real Deals: Washington County poultry farm sells for $7.9 million

An 80.64-acre poultry farm northeast of U.S. Highway 62 and Arkansas Highway 59 in Summers has changed hands after a sale worth $7.9 million. The purchase price equals $97,957 per acre.

Tonga Farms Arkansas LLC, whose registered agent is Brian Nguyen of Summers, bought the farm spanning four addresses in the 10100 block of Highway 59 South. The sellers were Anthony Nguyen and Hoa Le of Summers.

The property includes 12 poultry houses, a 2,362-square-foot single-family home, a 1,200-square-foot single-family home, a 1,200-square-foot mobile home, and utility buildings and sheds. The 33,000-square-foot poultry houses were built in 2016. The one-story homes were built in 2016, 2021 and 1995, respectively.

Russellville-based Farm Credit Services of Western Arkansas provided a 15-year loan of $6 million and a three-year loan of $295,000.

Anthony Nguyen and Hoa Le purchased the land in March 2016 for $416,000. The seller was Heartiness LLC, whose managing member is Man Ngo.

Fayetteville Land
More than 13 acres of commercial land in the mixed-use Drake Farms development in Fayetteville has a new owner after a recent sale worth $5.81 million. The purchase price equals $435,600 per acre.

Fayetteville nonprofit Washington Regional Medical Services bought 13.35 acres northwest of West Drake Street and North Gregg Avenue. The seller was 1155 Properties LLC, whose registered agent is Neal R. Pendergraft of Fayetteville.

A Washington Regional spokeswoman said the health care company purchased 15 acres in the Drake Farms development in 2021. Combined with the recent purchase, Washington Regional now has 28 acres adjacent to its hospital at 3215 N. Northhills Blvd. that’s available for expansion. “Plans for the property include facilities for expanded inpatient and outpatient hospital services, undergraduate and graduate medical education, workforce development, ambulatory care services, and a center for wellness,” the spokeswoman said.

Timelines for when the new facilities will open have yet to be set. City Title & Closing LLC in Fayetteville was the title agent.

Motel Acquisition
A two-story, 94-room motel property across from Fiesta Square in Fayetteville recently sold for $4.25 million. The purchase price equals $45,212 per room.

Palos Verdes Estates, Calif.-based Motelier Fayetteville LLC, whose managing members include Charles Mackey and Polly Watts, bought 2980 N. College Ave., which was most recently a Motel 6. Mackey and Watts are also managing members of Dwellist LLC, a boutique principal investor and developer of residential real estate.

The seller was RSH Hospitality LLC, whose members include Santosh Jayal, Honey Goel and Ravi Pritmani. Poplar Bluff, Mo.-based Sterling Bank provided a two-year, $6.46 million loan.

The 2.9-acre property includes three buildings, comprising 35,832 square feet, built in 1974. Plans for the property are in the works and have yet to be submitted to the city.

RSH Hospitality purchased the property in March 2019 for $3.2 million. The seller was Anuradha Hospitality LLC, managed by Dixit Bhakta.

Fayetteville Duplexes
A six-unit multifamily development on South Duncan Avenue in Fayetteville recently was acquired for $2.75 million. The purchase price equals $458,333 per unit.

Nerenberg Investments LLC bought the property on 0.65 acres in the Parksdale addition, south of West 15th Street. The seller was BCL Group LLC, managed by JB Group LLC of Overland Park, Kan. Janelle Benninghoff is manager of JB Group.

The 10,542-square-foot development, built in 2024, comprises three two-level luxury duplexes. Each 1,757-square-foot unit has three bedrooms, three full bathrooms and one half bathroom.

The buyer and seller were represented by Blake Smith with Lindsey & Associates. Realty Title & Closing Services LLC in Springdale was the title agent. BCL Group purchased the property in July 2023 for $525,000. The seller was Black Pine Construction & Development LLC, managed by Dakota Riggins and William Hansen.

Cottages Claim
Over 10 homes in the Joyce Street Cottages addition on Joyce Street east of Fayetteville in Washington County recently sold in separate transactions for $2.5 million. The purchase price equals $227,500 per home.

Landmarc Custom Homes in Tontitown bought 11 of the homes. Chris Bradley and Tim Boudrey are owners of Landmarc Custom Homes. The sellers were Volunteer Holdings LLC, managed by Donald J. Smith, and Vernon Richardson and Connie Richardson.