T.J. Lefler of Sage Partners in Fayetteville closed on the 3,258-SF building at 2117 W. Martin Luther King Blvd. on Jan. 9.
Lefler and three partners had reached an agreement with Bryan Hunt LLC in December, but ironing out the details of the purchase took a while to complete.
Lefler and his partners paid $975,000. Tom Allen of Pinnacle Realty Group represented Hunt in the deal.
Hunt, of Rogers, is the son of J.B. Hunt Transport founders J.B. and Johnelle Hunt. He bought the property from Amresco Commercial Finance Inc. for $375,000 in July 2002.
Starbucks occupies about 2,300 SF, and Lefler said he is close to finding a tenant for the remaining 960 SF. That space was previously used by Phoebe’s Treats.
Lefler said he happened to see Hunt place the property for sale and quickly made a move. “I really like the real estate,” Lefler said. “It’s going to be there for a long time. I really like the tenants.”
On Wedington
Speaking of Starbucks, it is planning to open a new location on West Wedington Drive in Fayetteville soon.
It looks to have some new neighbors too.
Starbucks is going into a building currently under construction at 3485 W. Wedington by Haag-Brown Development LLC of Jonesboro. It’s in front of the Walmart Neighborhood Market.
A 1.4-acre site just west of that location was sold for a little more than $1 million at the end of 2014 to JRN Investments of Jonesboro, a development group led by J.R. Nix. Haag-Brown, led by principals Joshua Brown and Greg Haag, represented JRN in the deal.
Clinton Bennett of CBRE Northwest Arkansas represented the seller, Forest Hills Partners LLC.
It’s a good bet that the property will be the site of a 5,000- to 6,000-SF retail building that will hold several tenants, with the anchor being AT&T.
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