Delta Group Executes Sale-Leaseback Deal (NWA Real Deals)

Delta Group Executes  Sale-Leaseback Deal (NWA Real Deals)
3115 W. Technology Way in Fayetteville

Delta Group Electronics of St. Louis has sold its facility and property in Fayetteville to a Colorado investor.

Middleton Properties LLC, led by Mark Middleton of Columbine Valley, paid $5.9 million for 4 acres and Delta’s 37,600-SF facility on West Technology Way. Delta, led by President Harold Mueller, then signed a 10-year lease with Middleton.

Delta bought the land for the site for $728,000 in 2010 and the electronic subcomponents company broke ground the same year. Delta had come to Arkansas when it arrived in Prairie Grove in 2008.

New EquipmentShare Home

EquipmentShare of Columbia, Missouri, paid $1.9 million for its recently opened facility in Springdale.

EquipmentShare, which rents industrial equipment to users, was founded by Willy and Jabbok Schlack, owners of Schlacks Construction, which has the same address as the purchasing LLC in Fulton, Missouri.

EquipmentShare bought the property through its Revitalize B QOZB LLC — the QOZB designates that the property is part of a federal economic opportunity zone. The seller was VGSJR LLC, led by Vernon G. Salter Jr. of Conway.

The property, on 14 acres on Electric Avenue, has 14,000 SF of office and shop space, as well as service and wash bays.

Springdale Foxfire

A Cave Springs investment team paid $2.9 million for Foxfire Apartments in Springdale.

LW Foxfire LLC, led by Brian Wagers and Jerry Laxen, bought the 82-unit complex on South West End Street. The seller was Pal Joey Properties LLC, led by Charles Palmer of Fort Smith.

Arvest Bank in Rogers provided a $2 million loan.

Springdale Office-Warehouse

A Kansas City businessman paid $2.2 million for two lots occupied by a 20,000-SF office-warehouse in Springdale.

Kasey Graham, president and CEO of the Meyer Cos., bought the 2.5-acre properties on West Sunset Avenue through his Springdale-Sunset LLC. The seller was McJunkin Truck Parts & Services Inc., led by President Sue Sewell of Springdale.

Enterprise Bank & Trust of Overland Park, Kansas, provided two loans totaling $5.75 million, and Graham assigned a deed of trust to Christopher Mosberg of Springfield, Missouri.

Springdale Bank Building

A Little Rock real estate brokerage firm paid $865,000 for the former First Federal Bank branch on West Sunset Avenue in Springdale. Brock Martin and Ben Lester, through their 901 University LLC, bought the 3,964-SF building from Arvest Bank, which acquired the assets of Bear State Financial in 2018; Bear State acquired First Federal in 2011.

Martin is the co-founder of Orion Capital Partners in Little Rock; Lester is the co-owner of Orion.

IberiaBank of Lafayette, Louisiana, lent $716,000 on the project.

Fayetteville Office

Fayetteville attorney Suzanne Clark paid $479,000 for a 2,444-SF office on West South Street in Fayetteville, just south of the town square.

Clark, founder of the Clark Law Firm, bought it through her Onze Quatorze LLC, which she runs with her husband, Steve, the former state attorney general and current CEO of the Fayetteville Chamber of Commerce. The seller was Sustainable Properties LLC of Little Rock, led by Matt Bell and Chris Ladner.

A prospectus said the property was fitted with solar panels to eliminate electricity bills. Arvest Bank in Rogers provided a loan of $407,000.

Car Repair Liquor Store

A 1,673-SF vacant building on North College Avenue in Fayetteville sold for $300,000.

Built in 1945 just north of the downtown square, it has been a car repair shop and a liquor store in its long history.

The buyer was BLST LLC of Fayetteville, led by Robert and Laurel Bruder, who own a nearby window tinting company.

The seller was Alta Vista LLC of Bentonville, led by Craig Soos and Bill Henry. Soos and Henry acquired the property for $185,000 in 2015.

Centennial Bank of Fayetteville provided a loan of $240,000.