Harps Buys Land For Lowell Store Near Interstate 49

Two tracts totaling nearly 19.5 acres in Benton County recently sold for $2.62 million.

Harps Food Stores Inc. of Springdale bought the property at the northwest corner of the North Goad Springs Road/Arkansas Highway 264 intersection, just west of Interstate 49.

REO Holdings II LLC, an entity controlled by Simmons First National Bank, sold 10.04 acres for $522,720.

Fayetteville Real Estate & Development LLC, managed by businessman Don Pitts, sold 9.3 acres for $2.1 million. Pitts is chairman of United Holding Co., the holding company that operates United Bank and United-Bilt Homes Inc., both headquartered in Springdale.

City Title & Closing LLC of Fayetteville was the title agent.

Brian Shaw, managing partner with Fayetteville commercial real estate firm Sage Partners, represented Harps in both transactions.

Ramsay Ball with Colliers International in Bentonville was the listing agent for the REO Holdings parcel. The Fayetteville Real Estate parcel, the hard corner land, was not listed.

Harps plans to build a 32,000-SF store on the property, though a construction timeline has not been determined.

 

Talamore Residence

A 5,958-SF residence on a 4-acre lot in the Talamore subdivision west of Bentonville recently sold for $950,000, a purchase price of $159.44 per SF.

Route 71 Development Co. LLC, which lists Richard Levin of Fayetteville as the registered agent, bought the property on Kennesaw Drive from Roger L. Plourde and Mary M. Flowers.

Realty Title & Closing Services LLC of Springdale was the title agent.

Meza Harris with Lindsey & Associates in Rogers had the listing.

The six-bedroom home was built in 2006 and appraised in 2012 for $1.06 million.

Plourde and Flowers acquired the property in February 2009 for $935,000. Henry and Caroline Jordan were the sellers.

Jordan bought the lot in October 2004 for $115,000. Distinguished Homes Inc. was the seller.

 

Enfield Estate

A recently renovated estate home near the downtown square in Bentonville has a new owner after a $1.16 million sale.

Shane and Keri Wilkinson bought the five-bedroom home on Enfield Road from Michael and Jenny Webb.

Arvest Bank of Fayetteville provided financing with a three-year mortgage of $1.16 million.

Waco Title Co. of Springdale was the title agent.

Trina Hammond with RE/MAX Real Estate Results of Bentonville had the listing.

The residence, now 9,000 SF, was originally built on 1.63 acres in 1980. Amenities include a saltwater swimming pool, five-car garage and guest house.

Webb bought the property in July 2006 for $560,000.

 

Stonecrest Activity

A Siloam Springs home builder recently paid $832,000 for 52 residential lots in Phases 4, 5 and 6 of the Stonecrest neighborhood of Siloam Springs. The purchase price equates to $16,000 per lot.

Matt Timboe, owner of Seven Pillars Contracting LLC, bought the property from Overland Development Inc. of Rogers, led by Dave Covington.

Realty Title & Closing Services LLC of Springdale was the title agent.

The subdivision is east of North Airport Road near the Arkansas Highway 412 intersection.

The purchase also includes a 3-acre common property.

 

Shetland Sale

A 3,964-SF home inside the gates of the Pinnacle Country Club neighborhood of Rogers recently sold for $770,000, a purchase price of $194.24 per SF.

Maarten and Diane Jager bought the Shetland Lane residence from Michael and Curry Del Pozzo.

Angela Kestner with Coldwell Banker Harris McHaney Faucette in Fayetteville had the listing at $770,000.

Mercury Title LLC in Fayetteville was the title agent.

The four-bedroom home was built in 2006 and appraised in 2013 for $626,800.

Del Pozzo acquired the home in July 2013 for $710,000. Christopher and Holly Nagelson were the sellers.

Nagelson bought the property in May 2006 for $695,000. Johnny King Construction Co. was the seller.

 

Whataburger Land

Land for a planned Whataburger restaurant in Springdale has officially changed hands for $787,360.

Whataburger Real Estate LLC of Texas paid for the 1.12-acre lot at the northwest corner of Elm Springs Road and North 40th Street, just east of Interstate 49.

John Pak, through his Elm Springs Center LLC, was the seller.

Stewart Title in Little Rock was the title agent.

The fast-food chain is expected to open its third Northwest Arkansas location at the site later this fall.

 

Multifamily Investment

A half-acre multifamily development near the University of Arkansas in Fayetteville has a new owner after a sale worth $765,000.

Ryan Botha bought the Sunrise Apartments complex at 1030 W. Rochier St. The property has 21 one-bedroom units, which equals a purchase price of $36,428 per unit.

Silva Properties LLC, led by Mark Silva, was the seller.

Arvest Bank of Fayetteville provided financing with a five-year mortgage of $815,224.

Waco Title Co. of Springdale was the title agent.

The two-story building totals 13,500 SF. Silva acquired the property in 2011 for $780,000. Sunrise Apartments LLC, led by Jacob and Carolyn Rymel, was the seller.

 

Restaurant Deal

A new restaurant in Fayetteville is in the works after a commercial real estate purchase of $628,000.

KMAJ LLC, led by Mike Rohrbach and Keith Burmylo, bought the building at 2036 N. College Ave.

ROLF Enterprises LLC, led by Kevin G. Rolf of Missouri, was the seller.

Liberty Title & Escrow of Bentonville was the title agent

The Bank of Fayetteville provide financing with a four-year mortgage of $614,500.

Tim Salmonsen with Keller Williams Market Pro Realty in Bentonville had the listing.

Andy Hague with Mathias Properties in Fayetteville represented the buyer.

Backyard Burgers was the previous tenant. KMAJ is planning a renovation of the 2,158-SF building into an Italian-themed restaurant called Bocca. It should open before the end of the year.

Rolf bought the building in May 2007 for $600,000.