Real Deals: CDI, BRR partner on downtown Bentonville parking deck

The city of Bentonville recently issued a commercial building permit to BRR Architecture in Bentonville valued at $26 million.

The permit is backing construction of a parking garage at 300 E. Central Ave. The parking garage is for an independent hotel under construction downtown at the intersection of Southeast A Street and East Central Avenue. CDI Contractors in Fayetteville is the parking garage’s general contractor.

According to planning documents, the parking garage will include 1,585 square feet of retail space and a 167,806-square-foot parking garage with 456 parking spaces.

RETAIL INVESTMENT
A 34,080-square-foot commercial building in Bentonville changed hands recently in a $4.55 million deal. The purchase price equals $133.50 per square foot.

RTA Investments LLC, led by Antonio Trujillo and Juan Trujillo, bought the multi-tenant retail center at 2003 S.W. Regional Airport Blvd. at the intersection of Southwest Bright Road. Brightwood Business Park LLC, managed by Michael Charlton, was the seller.

Fayetteville lender Signature Bank of Arkansas backed the deal with a 30-year, $3.41 million loan. Waco Title Co. of Springdale was the title agent. Keller Williams Market Pro Realty of Bentonville was the listing agency.

The 3.7-acre property was built in 2006 and is 100% leased.

COFFEE CLAIM
Stonebridge Holdings LLC of Bentonville, whose members include Chris and Anita Bryant and Nic and Cristal Bryant picked up a construction mortgage from First Commonwealth Bank in Pennsylvania valued at $1.83 million.

The funding is backing construction of an 864-square-foot building at 1602 S.E. J St., north of Bentonville High School’s Tiger Athletic Complex.

Stonebridge Holdings is a franchisee of Colorado-based Ziggi’s Coffee. They are developing the site to include a standalone building with a drive-thru and walk-up window where coffee drinks will be served. It will be the first Ziggi’s Coffee in Arkansas.

Stonebridge Holdings recently paid $532,000 for the 1.03-acre property, which includes a vacant 2,320-square-foot residential structure. JBV LLC, led by Roger Boskus, was the seller. David Erstine and Alex Schemel with CBRE in Fayetteville represented the buyer.

JBV paid $300,000 for the property in October 2019.

FARMINGTON ESTATE
A 53-acre estate residence north of Farmington sold recently for $1.8 million.

Nathaneal and Emilie Franks bought the property on Harmon Road. Jeffrey and Vicky Chandler were the sellers.

The property was listed by Morgan Chandler with Portfolio Sotheby’s International Realty in Rogers and sold by Terri Smallwood with Sagely & Edwards Realtors in Fort Smith. City Title & Closing of Fayetteville was the title agent.

The property includes a 3,661-square-foot, four-bedroom craftsman farmhouse built in 2019.

BANK BUY
A 3,747-square-foot commercial building in Fayetteville sold recently for $1.67 million. The purchase price equals $447 per square foot.

First Community Bank of Batesville bought the single-story building at 3150 W. Wedington Drive. Farmers and Merchants Bank in Stuttgart was the seller.

City Title & Closing of Fayetteville was the title agent. David Erstine with CBRE in Fayetteville represented the buyer.

Farmers and Merchants, which does business in Fayetteville as The Bank of Fayetteville, recently closed the branch. It was one of the company’s interactive teller machine (ITM) locations.

First Community Bank plans to renovate the building and open a branch there next spring. The company opened its first Northwest Arkansas bank branch in October 2022 at 5100 W. Park Ave. in Rogers’ Pinnacle Heights development west of Interstate 49.

BEAVER LAKE HOME
A 6-acre residence on Beaver Lake in Benton County sold recently for $1.2 million.

Pamela and Phillip Smith and Luke Escude bought the 2,380-square-foot home on Far Side Lane in Garfield. The Spencer Family Trust, led by Jerry and Patricia Spencer, was the seller.

Waco Title Co. of Springdale was the title agent. Jenny Miller (buyer) and The Roe Team (seller) with Collier & Associates brokered the deal.

The four-bedroom home was built in 2001. Spencer paid $405,000 for the property in May 2017. Lawrence and Rebecca Thurston were the sellers.

BEAVER LAKE ABODE
A 2,300-square-foot residence on Beaver Lake in Carroll County sold recently for $1.1 million. The purchase price equals $478 per square foot.

Tatum Smith Welcher Engineers Inc. of Rogers bought the four-bedroom property on County Road 150 in Eureka Springs. Andrew and Joanne Raymond were the sellers.

The Limbird Team with Limbird Real Estate Group in Rogers was the listing agent. Bo Morrison with Coldwell Banker Harris McHaney Faucette in Rogers represented the buyer. Harbor Closing Co. in Rogers was the title agent.

The two-story residence was built in 1990 and recently renovated. The sale includes a private, three-slip boat dock.

WALTON BOULEVARD LAND
Two parcels totaling 1.76 acres on North Walton Boulevard in Bentonville sold recently for $650,000. The purchase price equals $8.48 per square foot.

M Properties 2 LLC, led by Talon and Aimee Maningas, bought the commercial lots directly north of Mostyn Prettyman law firm. Burckart Family LLC, led by John Buckart, was the seller.

Mid-Missouri Bank in Joplin, Mo., provided financing with a one-year, $520,000 loan. City Title & Closing of Fayetteville was the title agent. Dan Smith with Colliers Arkansas in Rogers represented the seller. Ryan Flanagan of the Flanagan Group in Joplin represented the buyer.

The land is zoned C-1 for neighborhood commercial use. The buyer intends to develop the property for a medical office project. Talon and Aimee Maningas own Maningas Cosmetic Surgery in Joplin.

Real Deals submissions: Submit tips about Northwest Arkansas lease activity, construction, transactions or upcoming projects valued at $300,000 or more to Paul Gatling at [email protected]. Please write ‘Real Deals’ in the subject line.