Neighborhood Market Land Claimed for $3.25 Million
by May 25, 2015 12:00 am 186 views
The real estate for a planned Walmart Neighborhood Market in south Fayetteville has officially changed hands for $3.25 million.
Wal-Mart Stores Inc. bought 11 parcels totaling 6.1 acres at the northwest corner of South Government Avenue and Martin Luther King Jr. Boulevard. An auto repair shop and several other buildings currently occupy the site.
The Burton Dougan Hanna Revocable Trust was the seller.
Waco Title Co. of Springdale was the title agent.
The new 43,101-SF Neighborhood Market is being designed by Harrison French & Associates of Bentonville.
Candlelight Claim
A 56-unit multifamily development in Fayetteville recently sold for $3 million.
12M Multi-Family LLC of Sallisaw, Oklahoma, led by businessman Raymond Merrill, bought the Candlelight Place Apartments at 1766-1790 N. Gregg Ave.
Pat McGowan, through his Candlelight Place LLC, was the seller.
Arvest Bank of Fayetteville financed the deal with a five-year mortgage of $2.55 million.
The apartments were built in 2003. McGowan bought the land, approximately 4 acres, on October 2001 for $185,000.
There are seven buildings in the complex, including an office. The one-bedroom units range from 620 to 660 SF. The two-bedroom units range from 960 to 1,100 SF.
MadSky Rentals LLC of Fayetteville is the property manager. The development has an occupancy rate of 100 percent.
Crossland Corrals Land
A warehouse development in Bentonville is potentially underway after a land purchase worth $1.09 million.
Rogers Warehouse Development IV LLC, an affiliate of Crossland Construction Co. of Columbus, Kansas, bought a 14.75-acre tract at the southwest corner of 28th and J streets in Bentonville.
The Louise Bishop Revocable Trust, led by trustee George Skupien, was the seller.
Realty Title & Closing Services LLC of Springdale was the title agent.
Arvest Bank of Fayetteville provided financing.
Pat Morrison with Colliers International in Bentonville had the listing and represented the seller.
Of the entire 26-acre tract, the buyer purchased and rezoned the back 14.75 acres for future industrial use.