by August 1, 2022 7:29 am 841 views
A 6,256-square-foot residence in Phase I of the Clear Creek neighborhood in Johnson sold recently for $3.2 million. The purchase price equals $511 per square foot.
Sound Gambit LLC, led by Joseph and Gabrielle Morse, bought the five-bedroom home on Clear Creek Boulevard. Nathan and Tina Hodne were the sellers.
Alabama-based Regions Bank backed the deal with a 13-year loan worth $1.7 million. Tina Hodne with Coldwell Banker Harris McHaney & Faucette in Fayetteville was the listing agent. Morgan Chandler with Portfolio Sotheby’s International Realty in Rogers was the buyer’s agent. Mercury Title in Fayetteville was the title agent.
Fayetteville home builder Celtic Custom Homes built the three-level home in 2019. Hodne paid $200,000 for the land (1 acre) in April 2018. Clear Creek Residential LLC was the seller.
OFFICE INVESTMENT
A four-building office park in Fayetteville has a new owner after a recent sale worth $3 million.
Mockingbird Holdings LLC, led by Kezie Odunukwe, bought the multi-tenant Joyce Business Park at 1668-1682 Joyce Boulevard next to the U.S. Post Office. Joyce Office Park LLC, led by Matt Dearnley, was the seller.
Armstrong Bank in Springdale backed the deal with a 20-year, $2.55 million loan. City Title & Closing was the title agent. David Erstine and Hunter Groce with CBRE in Fayetteville brokered the deal.
The four buildings combined have 25,600 square feet. The purchase price equals $117.18 per square foot.
Joyce Office Park paid $2.13 million for the 1.93-acre development in December 2011. First Security Bank of Searcy was the seller.
SPRINGDALE APARTMENTS
A 42-unit apartment complex in downtown Springdale changed hands for $2.8 million. The purchase price equals $66,666 per unit.
Berry Street Partners LLC, led by Mitch Moore and Jake Newell, bought the four-building property at 305-317 Berry St. The buildings include 22,600 square feet with a mixture of one-bedroom and two-bedroom units.
Alston and Morrison Properties LLC, managed by Steve Morrison, was the seller.
Springdale-based Legacy National Bank backed the deal with a six-year construction loan worth $3.13 million. City Title & Closing was the title agent.
Moore and Newell are with Wheelhouse Real Estate Management, a division of Newell Development in Bentonville. Moore said the new owners will make interior and exterior improvements to the property, which will include a rebrand.
PLEASANT GROVE PROPERTY
A 6,672-square-foot retail building in Rogers has a new owner after a recent sale worth $2 million. The purchase price equals $299.76 per square foot.
MLRS LLC, led by Gary and Shannon Still, bought the single-story property at 2090 W. Pleasant Grove Road. Risky Investment LLC, managed by Michael Brooks, was the seller.
Searcy-based First Security Bank backed the deal with a four-year loan of $1.7 million. City Title & Closing of Fayetteville was the title agent.
Smoothie King is a building tenant. Gary Still, president and CEO of Rogers builder Bespoke Homes, said the company will renovate the remaining space for the company’s design center and corporate office. Neighbor’s Mill Bakery & Café was the previous tenant.
Risky Investments paid $870,000 for the land (1.5 acres) in March 2017.
SOUTHGATE SALE
A 4,404-square-foot residence in The Estates at Southgate neighborhood in Rogers is off the market in a $1.89 million deal. The purchase price equals $430 per square foot.
Brian Knapp bought the four-bedroom home on Southgate Estates Circle from Bentonville-based Sapphire Homes. Arvest Bank backed the deal with a 30-year loan worth $1.57 million. Natural State Title in Springdale was the title agent. Jan Holland with Coldwell Banker Harris McHaney & Faucette represented the buyer. Sapphire Realty was the listing agency.
Sapphire paid $247,000 for the 1-acre lot in May 2021. Dupps Squared Inc. was the seller.
SILOAM SPRINGS INVESTMENT
A 3,044-square-foot retail building in Siloam Springs sold recently for $1.48 million. The purchase price equals $486.85 per square foot.
GPG North Cave Creek Owner LLC, led by Maxwell Ullman and Daniyel Cohen, bought the single-story building at 1612 U.S. Highway 412 West. KB Siloam Springs LLC, led by Chris Moses and Zack Kifer, was the seller.
Bank OZK of Little Rock backed the deal with a six-year, $605,000 loan. First National Title Co. of Bentonville was the title agent. Kifer and Moses with Moses Tucker Partners brokered the deal.
King Burrito is the tenant on a 15-year triple-net lease. The agreement originated earlier this year. KB Siloam Springs paid $850,000 ($260.09 per square foot) for the building earlier this year. Hardee’s was the building’s previous tenant.
DOWNTOWN BENTONVILLE
A 0.47-acre residential lot in downtown Bentonville changed hands recently for $1.3 million.
Fish Market Properties LLC, led by Chris Woodard and Jake Newell, bought the property at 606 S.E. C St., two blocks west of the Momentary. It includes a 1,150-square-foot residence. Laurie Zarse was the seller.
Springdale-based Legacy National Bank backed the deal with a one-year loan worth $975,000. City Title & Closing of Fayetteville was the title agent.
Newell, principal of Bentonville company Newell Development, and Woodard are business partners on multiple real estate developments in the city.
“We are still working out details of the project but anticipate it’ll be a development that comes to life in 2023-24 to complement the other infill projects we’ve been involved with downtown,” Woodard said.
PISIAS PROPERTY
A 5,040-square-foot office building in Rogers changed hands for $550,000. The purchase price equals $109.12 per square foot.
Pisias Properties LLC, managed by Nicholas Martin, bought the single-story building at 811 N. Dixieland. Roger Johnson was the seller.
Batesville-based Citizens Bank backed the deal with a five-year, $440,000 loan.
Martin owns Global Dental Technologies, which occupies the building.
Real Deals submissions: Submit tips about lease activity, construction, transactions or upcoming projects valued at $300,000 or more to Paul Gatling at [email protected]. Please write ‘Real Deals’ in the subject line.
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