A 30,000-SF warehouse in Bentonville was auctioned for approximately $1.6 million Wednesday.
The identity of the buyer was not disclosed. The auction was handled by Ten-X, the online real estate auction house.
The building is located on three acres at 2501 SE Otis Corley Drive and is leased by Chinatex Oriental Inc., which makes fabrics. An auction billing shows that Chinatex pays rent of $162,000 annually.
WB3M, which is managed by Scott Walchek, bought the property for $3.15 million in 2007.
The property was attached to a mortgage of $2.4 million with U.S. Bank of Cincinnati.
U.S. Bank foreclosed in late 2015, and the bank’s affiliate — LB-UBS 2007-C6 Otis Corley Drive LLC — turned management over to Butch Gurganus of Colliers International.
Gurganus said the sale should close within 30 days.