Real Deals: Highfill pasture sells for $6.58 million

More than 94 acres of pasture and timber on Arkansas Highway 12 in Highfill recently changed hands for $6.58 million. The purchase price equals $69,844 per acre.

Holiday Island Retirement 2 LLC, a Missouri entity whose registered agent is Springfield, Mo., attorney Randell Wallace, bought the 94.25-acre property west of the Carroll Electric Cooperative Corp. substation. Wallace is a partner at Kutak Rock and handles mergers and acquisitions.

The sellers were Kenneth Insco and Alice Insco, who retained an adjacent 21.21 acres on Northwest Holland Avenue. City Title & Closing LLC was the title agent. The Insco family paid $38,000 for the property in July 1979. George Clark was the seller.

Bentonville Multifamily
A single-story, four-unit multifamily property on nearly 2 acres on Southeast Eighth Street in Bentonville has a new owner after a recent transaction worth $6.5 million. The purchase price equals $1.62 million per unit or $3.89 million per acre.

An affiliate of Little Rock-based Pinnacle Hotel Group bought the 2,494-square-foot multifamily property on 1.67 acres northeast of South Main and Southeast Eighth streets, across from Thaden School. The property also includes a single-story storage building.

The seller was Gaslight Properties LLC, whose sole member is Rhonda French. Malvern-based The Malvern National Bank provided an 18-month loan of $3.25 million.

Gaslight Properties acquired the property through multiple transactions between June 2014 and August 2018 for a total of $200,000. The sellers were Janis Vandiver and Main Street Holdings LLC, managed by French.

Walmart Land
About 9 acres of pasture on Arkansas Highway 265 in Fayetteville recently sold for $5.2 million. The purchase price equals $577,136 per acre. Bentonville-based retailer Walmart Inc. bought the 9.01-acre property east of North Crossover (Highway 265) and East Zion roads. Fayetteville City Council recently approved plans for The Market At Crossover to include grocery and convenience stores on the property.

The seller was Chandler Crossing LLC, managed by Brian Moore. City Title & Closing LLC was the title agent. Chandler Crossing acquired the property in August 2021 as part of a larger land transaction for $2.05 million. The seller was ECT Farmland LLLP.

Lowell Storage
A single-story, 58,725-square-foot self-storage facility on South Old Wire Road in Lowell recently sold for $4.8 million. The purchase price equals $81 per square foot.

A Cary, N.C.-based limited liability company managed by Allegiance Title Co. in Fayetteville bought Hunt Farms Self Storage on 5.24 acres at 437 S. Old Wire Road. The seller was MLTB LLLP, whose trustees are Mark Marquess and Lynda Marquess.

The seven-building storage facility was built in 2024. Fayetteville-based Signature Bank of Arkansas provided a three-year loan of $6 million.

Rogers Industrial
A single-story, 20,880-square-foot industrial building on North 13th Street in Rogers recently sold for $3.42 million. The purchase price equals $163 per square foot.

Fort Smith-based Harris & Harris Investments LLC, whose managing member is Anthony Harris, bought the building on 2.3 acres at 1999 and 2001 N. 13th St.

The seller was Springfield, Mo.-based Raven Rogers LLC, managed by Paul Scribner. Booneville-based First Western Bank provided a more than 26-year loan of $2.73 million. City Title & Closing LLC in Fayetteville was the title agent.

Raven Rogers paid $3.34 million for the property in September 2023. The sellers comprised limited liability companies, managed by Matt Sitton, Benjamin Butler and Matt Ahart.

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