Real Deals: Walmart buys Tontitown land for $10.4 million

More than 40 acres of pasture adjacent to the interchange under construction for the second phase of the Springdale Northern Bypass has changed hands in separate transactions for a combined $10.4 million. The combined purchase price equals $238,066 per acre.

Bentonville-based retailer Walmart Inc. purchased the 43.71 acres at the northeast corner of Old Highway 68 and U.S. Highway 412 in Tontitown. The property is adjacent to the Arkansas Highway 612 interchange that’s under construction.

Five J Farms, whose authorized agents include William Jackson Butt II and James E. McClelland Jr., and Warehouse Space LLC, managed by Jim Bob Duggar and Michelle Duggar of Springdale, were the sellers. The Duggars were featured on the reality TV series “19 Kids and Counting.” Jim Bob Duggar was previously a Republican member of the Arkansas House of Representatives.

City Title & Closing LLC in Fayetteville was the title agent.

The Five J Farms property was 27.45 acres and included a 1,254-square-foot, single-family home built in 1911 and multiple sheds. Five J Farms paid $570,000 for the property in January 1996. The Warehouse Space land comprised 16.26 acres. The Duggars acquired the land in separate transactions between October 2021 and January 2024 for a combined $1.63 million.

Asked about plans for the property, Walmart provided the following statement: “We’re always exploring areas for growth and new opportunities to better serve communities and have no additional information to share at this time.”

Walmart provided the same statement when asked about plans for the 23.32 acres it recently purchased southwest of Monroe Avenue (Arkansas Highway 264) and Bellview Street in Lowell for a combined $8.38 million.

Springdale Land
More than 25 acres of pasture west of Arvest Ballpark in Springdale recently sold for $7.26 million. The purchase price equals $280,734 per acre.

Portage, Mich.-based Edward Rose Development Co. bought 25.86 acres at the southeast corner of South 64th Street and Watkins Avenue. The company shares an address with Edward Rose & Sons, a real estate development and management company of multifamily properties, including the 240-unit Dodson Pointe Apartment Homes off South Dodson Road in Rogers.

The seller was Taldo Properties LLC, whose member is Philip Taldo of Springdale. Taldo is the broker and co-owner of Griffin Company Realtors Commercial Division and Weichert Realtors – The Griffin Co. The property includes an 1,821-square-foot, single-family home built in 1957, a barn and sheds.

Taldo acquired the property in separate transactions between October 2001 and May 2021 for a combined $615,500.

Springdale Building
A 27,000-square-foot commercial building along Interstate 49 in Springdale was recently acquired for $5.63 million. The purchase price equals $208 per square foot.

Springdale Powersports Real Estate LLC, whose registered agent is Jeffrey William Johnson of Fayetteville, bought the Heartland Honda building on nearly 2 acres at 824 S. 48th St.

Johnson is also the registered agent for Wood Powersports, which has locations in Fayetteville, Harrison and Springdale. Blake Young is manager/member of Springdale Powersports Real Estate and managing partner at Wood Powersports in Fayetteville. The company’s Springdale location at 4184 S. 48th St. is the buyer’s address.

The sellers were Nancy L. Donahoe and Jack H. Donahoe. Green Forest-based Anstaff Bank provided a five-year loan of $4.8 million. First National Title Co. in Fayetteville was the title agent. The Donahoe family purchased the property in August 2005 for $1 million.

Centerton Lots
Nearly 60 residential lots southwest of North Tycoon and Edgewood roads in Centerton have a new owner after a transaction worth $5.49 million. The purchase price equals $94,750 per lot.

Arlington, Texas-based homebuilder D.R. Horton Inc. bought 58 lots in the first phase of the Huber Place addition on Tycoon Road, about 1 mile south of Arkansas Highway 102. The homesites are in the 1000 block of Thornwood Place, the 2300 and 2400 blocks of Longfellow Drive, the 1000 block of Shine Place, and the 2300 and 2400 blocks of Max Avenue.

The seller was XNA Properties, managed by Michael K. Dzurik of Shreveport, La.

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