Real Deals: Fayetteville School District buys nearly 20 acres for $4 million

Fayetteville School District is the new owner of 19.72 acres east of North College Avenue in separate deals with a combined value of $4.05 million. The purchase price equals $205,547 per acre.

The adjacent properties, 3.01-acre and 16.71-acre sites, are east of the College Avenue intersection with Poplar Street and between Township and Sycamore streets. The sellers were KLBFW LLC, led by Kevin Farmer; Mico Investments LLC, led by Andrew Henson; and Overlook Holdings LLC, led by Ralph Simon III.

Allegiance Title Co. in Fayetteville and Waco Title Co. of Springdale were the title agents.

A school district spokesman said the land will be used for the location of the new Ramay Junior High School. Construction is expected to start in three to four years. Plans are in the works to determine the future use of the existing school building on South Sang Avenue once it relocates to the new site in about five years.

Dream Valley
Sign Studio LLC, led by Mark Daniels and Kimberly Daniels, recently acquired a 35,700-square-foot industrial building and 6.63 acres on Dream Valley Road in Rogers for $3.2 million. The purchase price equals $89.63 per square foot.

The seller was S & T Of Camden LLC, led by Stephen McCann and Teresa McCann of Bentonville. The title agent was City Title & Closing LLC in Fayetteville. Mississippi-chartered Cadence Bank provided a 20-year mortgage of $2.89 million.

Built in 1992, the one-story industrial building is on 5.63 acres. The purchase included an adjacent 1-acre lot. In November 2021, S & T Of Camden purchased the property for $3.25 million. The seller was Darrow Garner Inc. of Rogers.

Millsap Purchase
A 16,283-square-foot office building on Millsap Road in Fayetteville recently changed hands for $2.7 million. The purchase price equals $165 per square foot.

Acadia Management Inc., led by Bruce Bethell of Fort Smith, purchased the property from LCY Day LLC, led by Sandra Y. Rainey. The buyer was represented by Matt Mozzoni, director of brokerage at Cushman & Wakefield/Sage Partners. The seller was represented by Bob Hopmann and Jeremy Kennedy of Lindsey & Associates.

The title agent was City Title & Closing LLC in Fayetteville. Lonoke-based First State Bank provided a 25-year mortgage of $2.7 million.

Built in 1995, the two-story building sits on 0.94 acres. In March 2010, LCY Day purchased the property for $1.57 million. ADT Properties LLC was the seller.

Talamore Residence
Kelly J. McCulloch and Lewis Joseph McCulloch recently purchased a 6,377-square-foot home on 6.5 acres in the Talamore neighborhood in Bentonville for $2.08 million. The purchase price equals $326 per square foot.

The sellers were Eric C. Haskel and Julie A. Haskel. The sellers were represented by LaDawna Whiteside of Keller Williams Market Pro Realty in Bentonville. The buyers were represented by Kate Cox of Coldwell Banker Harris McHaney & Faucette. The title agent was City Title & Closing LLC in Fayetteville.

Built in 2017, the two-story home on Pembrook Circle includes five bedrooms, six full and two half bathrooms, a heated, salt-water pool, and a climate-controlled garage bay finished as a workspace with kitchen and half bath plus walkable garage storage space under the house and a whole house generator.

In May 2017, the Haskels purchased the property for $1.31 million. The seller was KOA LLC.

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