Fayetteville Bank Sells Convenience Store

The Village Market convenience store at 2103 S. Powell Ave. in Springdale was sold June 30.

The Bank of Arkansas sold the store to Woodridge Estates Mobile Home Park LLC for $138,667. The deed was signed by Wayne Stone as president of the bank and Kelly Turner as secretary.

The purchase was financed with a loan from the Bank of Arkansas. Woodridge Estates received a $647,820 mortgage from the bank, which included refinancing an existing debt on the former City View Estates Mobile Home Park that the company bought two years ago. The loan was signed by Robert and Betty Wheeler as trustees of the Wheeler Family Trust and Duane and Ruth Pennington as trustees of the Duane and Ruth Pennington Revokable Trust.

The Village Market is a 5,000-SF convenience store that also includes a coin-operated laundry. The store was built in 1985 and appraised in 1996 for $276,750. The bank had