Commercial Deal Developing in Bentonville

We’ve heard that a significant sale of some office space on Commerce Drive near South Walton Boulevard in Bentonville might be right around the corner.

Spurces tell us that FBE Limited LLC, a private investment firm in New York, is working on a deal to get the Commerce Centre under contract.

The wrap-around office park — situated behind two strip mall centers, the Bentonville Post Office and Burger King — has eight buildings totaling about 120,000 SF, an average of approximately 15,000 SF per building.

It’s currently 30 percent occupied and has an asking price of $4.2 million. That’s right around $35 per SF.

Considering the eight buildings most recently appraised in 2011 for a combined $9.3 million, you needn’t be in the real estate business to recognize that bargain.

U.S. Bank NA is the current owner.

If you’ll remember, FBE Limited owns the nine-story Bentonville Plaza office building and 15 surrounding acres across from the Walmart Home Office.