Real Deals: Fayetteville surgery center, clinic sells for $15.3 million

A 28,055-square-foot medical office building south of East Joyce Boulevard in Fayetteville has a new owner after a recent transaction worth $15.3 million. The purchase price equals $545 per square foot.

An affiliate of Greensboro, N.C.-based real estate investment firm TM Medical Properties bought the building on 3.45 acres at 1695 E. Rainforest Road.

The seller was Dr. Josh Roller, founder of bariatric surgery clinic Roller Weight Loss and Advanced Surgery and medical director of Roller Surgery Center. Roller said the sale-leaseback deal has 12 years remaining on the lease and allows the focus to be “on the practice and medicine and less on real estate. [Roller Weight Loss] is not going anywhere.”

Pine Bluff-based Simmons Bank provided a five-year loan of $10.1 million.
Roller bought the land for $625,000 in August 2013. The seller was Missouri-chartered Enterprise Bank & Trust.

Rogers Office
A three-story, 43,499-square-foot office building in the Pinnacle Hills area of Rogers recently changed hands for $12 million. The purchase price equals $275 per square foot.

A limited liability company managed by Fayetteville financial adviser Patrick Cameron bought the building on 2.05 acres at 3350 S. Pinnacle Hills Parkway.

The sellers comprised limited liability companies managed by Les Baledge, Andrew Burnett, Johnelle Hunt and T.J. Lefler.

Matthew Allen and Tom Allen, both of Cushman & Wakefield / Sage Partners in Rogers, represented the sellers. Philip Schmidt of Kelley Commercial Partners in Springdale represented the buyer, who plans to keep the building as is for investment purposes and will lease it as is. City Title & Closing was the title agent.

The sellers bought the property for $10.42 million in June 2018. The seller was a partnership that included The Infinity Group, a privately owned investment holding company in New York City, and area developer Dean Eisma.

Lowell Pasture
More than 26 acres of pasture along Interstate 49 in Lowell and a two-story, 9,892-square-foot commercial building on almost 4 acres in Springdale recently sold for a combined $8.05 million. The purchase price equals $262,642 per acre.

An affiliate of Monroe, La.-based Scott Equipment Co. bought 26.85 acres of pastureland southeast of West Oakwood Avenue and North Goad Springs Street and the company’s location on 3.8 acres at 4831 N. Thompson St. (U.S. Highway 71B), north of Wagon Wheel Road (Arkansas Highway 264). Scott Equipment provides sales, rental, parts, and service of heavy-duty construction machinery and cranes.

The sellers were company affiliates. Nashville, Tenn.-based Pinnacle Bank provided a seven-year loan of $51.85 million.

The Scott company affiliates paid a combined $6.04 million for the land and building in separate transactions in October 2014, December 2021 and January 2022. The sellers were William Pritchard and Karen Pritchard, Marvin Chadwick and Janis Chadwick and Dewitt Goff.

Springdale Pasture
About 23 acres of pastureland along Interstate 49 in Springdale sold recently for $7.06 million. The purchase price equals $304,211 per acre.

Fellowship Bible Church of Northwest Arkansas in Rogers bought the 23.22-acre property on South 48th Street, north of the U.S. Highway 412 and I-49 interchange.

A Springdale-based limited liability company managed by Brian Moore was the seller. City Title & Closing was the title agent.

The property includes a 2,026-square-foot, single-family home built in 1968 and various sheds. The seller bought the property for $2.17 million in February 2023. Sheila Vaughn of Springdale was the seller.

Fayetteville Store
A 4,020-square-foot convenience store on West Martin Luther King Jr. Boulevard in Fayetteville recently sold for $6.77 million. The purchase price equals $1,684 per square foot.

An affiliate of New York-based real estate investment firm Fulton Realty Capital, managed by Lawrence Kaplan, bought the Maverik store on 1.55 acres at 2222 W. Martin Luther King Jr. Blvd.

The seller was Los Angeles-based real estate investment firm Maple St Management, led by Berel Bakaleynik. Mason City, Iowa-based First Citizens Bank provided a 10-year loan of $4.85 million. Maple St Management paid $6.7 million for the property in December 2024.

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