Sherwood Gander Mountain Sells for $4 Million (Real Deals)

by George Waldon  on Monday, Apr. 11, 2011 12:00 am  

A 118,440-SF former Wal-Mart in Sherwood tipped the scales at $4 million.

KTJ 189 LLC of Minnetonka, Minn., purchased the 9.2-acre Gander Mountain development at 5450 Landers Road in Sherwood from Wal-Mart Stores Inc. of Bentonville.

The deal is funded with a two-year loan of $6.7 million from Union Bank & Trust of Omaha, Neb.

Wal-Mart acquired the property for $2.5 million in April 2010 from Metropolitan Life Insurance Co. of New York. Met Life bought it for $3.18 million in June 1989 from Wal-Mart Properties Inc.

Heifer Sale

The former headquarters of Heifer Project International changed hands in a $1 million transaction.

Wolfe Street Foundation Inc., led by Jim Waldron, acquired the 1015 S. Louisiana St. property. The charity provides recovery service to alcoholics and their families.

The seller is Heifer International Foundation, led by Domingo Barrios. The deal is backed with a 19-month loan of $1 million from Arvest Bank of Fayetteville.

The fundraising affiliate purchased the 0.64-acre development for $960,000 in November 2005 from Heifer Project International.

The nonprofit, with the mission of ending world hunger, bought the property for $585,000 in January 1987 from Ensco Inc., led by Melvyn Bell.


Argenta Acquisition

A 0.78-acre piece of downtown North Little Rock drew a $450,000 sale.



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