Garden Park LLC Plucks Fayetteville Apartments (Real Deals)

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Garden Park Apartments LLC recently purchased the South Creekside Apartment complex, located at 900 N. Leverett Rd. in Fayetteville from South Creekside Holdings LLC for $6.15 million.

Steve Mansfield, owner of University Realty LLC, purchased the property, from his former wife Rexanne, who continues to operate Mansfield Property Management.

The property will be managed by University Realty.

South Creekside is registered to Ozark Duplexes Limited Partnership LLLP, which is registered to University Realty LLC and Steve Mansfield.

The apartment complex has a total of three buildings, one three-story building and two, two-story buildings.

The units range in size from 670-880 SF.

Sitton Occupies Rogers Plant

Sitton Properties LLC, registered to Mike Sitton of Tulsa, Okla., purchased the former Polymer Group Inc.- Scott Paper facility located at 400 W. New Hope Rd., in Rogers for $3 million.

After the purchase, the warranty deed was transferred to Strateline Industry’s name.

Sitton is the chairman of Strateline Industries, which is based in Wagoner, Okla.

The 250,000-SF plant is located on an 8.8-acre lot.

On December 4, Sitton announced that Strateline would occupy the plant and begin manufacturing recycled, fiber-based fabric for wet wipes and other nonwoven products in the automotive, home furnishings and medical industries.

Strateline plans to invest $63 million in the building and equipment over the next three years.

Triton Homes Tackles Fayetteville Housing

Iowa-based Triton Homes Inc. purchased a $1.75 million building permit from the city of Fayetteville for the first 5 units of the company’s Village at Shiloh affordable housing subdivision, located on west Hillshire Drive, north of Arkansas Highway 62 and west of Interstate 540 in Fayetteville.

Each unit will be 1,337-SF and will include two bedrooms, two-and-a-half-bathrooms and an attached two-car garage.

The garage will serve as the first floor of all the homes with two additional floors on top of the garage.

The master bedroom, located on the second floor, will have a walk-in closet, vaulted ceilings and an attached bathroom.

The main floor will have a kitchen, half bath, pantry and laundry room.

The subdivision will eventually have a total of 200 homes.

Triton Homes is the general contractor for the project.

White Oak Plants Roots

Luce Construction Inc. purchased a $1 million building permit from the city of Bentonville for a new White Oak Convenience Store.

The 11,687-SF station will be located in the Limestone Ranch Subdivision on SW Regional Airport Boulevard.

It will have five gas dispensers. The convenience store will be about 6,000-SF and the remaining 5,687-SF will be divided into a bank and a retail unit.

Tenants for the remaining space have not been secured.

Steve Turner of Petromark Inc. of Harrison is the project developer. Petromark purchased 1.9 acres for the development for $995,000 in April.

The store is expected to open in March 2008.

Frisco Finds New Space

Frisco Properties LLC, registered to David McDonough of Cornerstone and Christian Healthcare Inc., purchased 6,492 SF of downtown office space in Rogers on November 21 from JP Morgan Chase Bank, for $990,000.

The four-story office is located at 222 S. 1st St. in Rogers. It was constructed in 1997.

Schwyhart Hunts Perry Property

Bill Schwyhart, registered agent of HSG Holdings LLC paid Jerry and Joan White paid $950,000 for 1.14 acres of land located at 4724 W. Perry Road in Rogers.

A 1,896-SF home is located on the property.

In 2007 the property appraised for $171,300.

HSG Holdings LLC also recently secured a $2.1 million mortgage from J.B. Hunt Big Horn Lodge Financing LLC.

Johnelle Hunt is the registered agent for Big Horn Lodge Financing.

Developers Deal Land Exchange

Reagan Kirkland, owner of Kirkland Real Estate Services in Fayetteville, and Trey Trumbo, registered agent of Homestead Homes LLC, bought from and sold land in both Benton and Washington counties from one another on November 30.

Kirkland purchased four parcels of residential land in Phase III of the Clabber Creek Subdivision in Fayetteville for $720,000.

Homestead Homes then purchased one parcel of land in Fayetteville’s West End Addition, four parcels of land in Bentonville’s Eagle Crest Estates and two parcels of land in the Carriage Square Subdivision in Bentonville.

Area Owners Swap Lots for Lincoln Land

Keith Marrs, owner and executive broker of Legend Realty, and Robert Daugherty, operating through The Robert Daugherty Trust, recently swapped Fayetteville residential lots for Lincoln acreage.

Marrs, through his Twin Falls Development LLC, sold Daugherty four parcels of residential land located in the Fayetteville out lots for $695,000. Each parcel is 0.81 acres.

In return, Marrs, through RK Holdings LLC, paid Daugherty $695,000 for the Cal-Maine Foods Inc. building in Lincoln and the 6 acres included in the parcel. The 151 acres are currently vacant.

The building, which is no longer operated by Cal-Maine Foods, is about 43,000 SF and was built in 1971.

Marrs said he has no immediate plans for land and will allow it to remain used for cattle grazing until further plans are solidified.