Medical/Office Properties Sold for $7.2 Million
by February 3, 2014 12:00 am 127 views
A pair of medical/office properties in Bella Vista and Springdale are now under the ownership of a Fortune 500 company following a sale worth $7.2 million.
Universal Health Services Inc., a publicly held hospital management company in Pennsylvania, bought a 14,257-SF building at 1102 N.W. Lowes Ave. in Bella Vista and a 9,761-SF building at 3057 Springdale Ave. in Springdale.
Northwest Health System of Springdale is the primary tenant of both buildings.
BV Ventures LLC, led by Travis Ruff, was the seller of both properties. The transaction also included an additional 0.75 acres adjacent to the Springdale property.
Ruff is the co-founder of Milestone Construction Co. of Springdale.
BV Ventures bought the 1.01-acre Springdale development in September 2012 for $650,000. The seller was Harrison-based First Federal Bank, which took ownership via commissioner’s deed in November 2009 from the previous owner, Gary Combs, who owned the property through his Landside Acquisitions LLC.
The building was renovated by Milestone Construction and now houses The Children’s Center.
BV Ventures bought the Bella Vista land, 1.64 acres, for $1 million in December 2011. The seller was SDI North Bentonville LP of Houston, led by Charles W. Shears.
Milestone also built the building that sits just north of Lowe’s Home Improvement Warehouse on U.S. Highway 71 in Bella Vista.
Northwest Medical Plaza at Sugar Creek occupies between 8,000 and 9,000 SF of that building.
UHS also owns four other facilities in Arkansas, including Springwoods Behavioral Health, built in 2009 at at 1955 W. Truckers Drive in Fayetteville.