Harps Food Store Sells for $5.9M (NWA Real Deals)

Harps Food Store Sells for $5.9M (NWA Real Deals)
Harps Food Store at 2894 W. Sunset Ave in Springdale. The company's corporate headquarters can be seen in the background on the right. (Cushman & Wakefield / Sage Partners)

The Harps Food Store adjacent to the company’s headquarters in Springdale has sold for nearly $6 million to two Fayetteville investors.

S&K Extreme Hunts LLC, led by Steve Smith and Kevin Riggins, bought the 59,466-SF grocery store and pharmacy at 2894 W. Sunset Ave. Harps’ corporate offices, nearly directly behind the store, are located at 918 S. Gutensohn Road.

Harps will remain at the location as a tenant in the sale-leaseback transaction.

Signature Bank in Fayetteville provided a $5.6 million loan.


A 22,269-SF garage and warehouse in Springdale sold for slightly more than $1.4 million.

Freeman Family Rentals LLC, led by Robert Freeman of Thousand Oaks, California, bought the property at 419 E. Robinson Ave. in Springdale. A trucking repair company anchors the property.

The sellers were a partnership between Fayetteville Fund LLC, led by Jordan Jeter and Philip Schmidt, and Diversified Financial Holdings LLC, led by Gary Richardson. The partnership acquired the property for $890,000 in 2018.

First National Bank of Fort Smith provided a $727,500 loan for the transaction.

Housing Authority

The Fayetteville Housing Authority paid $1.32 million for 27 apartment units on West Deane Street in Fayetteville.

The authority, led by Executive Director Angela Belford, bought the units through its FHA Development Inc. subsidiary. The apartment complex sits on 2.58 acres east of Interstate 49.

The seller was Stone Street Rentals LLC, led by John Cloyed. Cloyed acquired the property as part of a $1.75 million deal with Williams Holdings LLC, led by Donald and Paul Williams, in 2017.

The FHA bought an 18-unit complex on 12th Street that was included in that deal from Cloyed for $865,000 in May.

BancorpSouth of Tupelo, Mississippi, provided a loan of $1.48 million. The FHA also took a $200,000 mortgage with Cloyed.

Springdale Complex

A 15,856-SF Springdale complex sold for $1.675 million.

Thomas Lundstrum and Kenneth Hall of Springdale, through their 2921 South Old Missouri LLC, bought the center; the buying subsidiary is named after the center’s address, just north of Electric Avenue in east Springdale. It is anchored by a Pizza Hut restaurant and has retail and office spaces.

Whorton Construction of NW Arkansas LLC, led by President Marshawn Whorton, was the seller. Legacy National Bank in Springdale provided a $1.6 million loan.

Springdale Nightclub

A nightclub in Springdale sold for $1 million.

C&A Management LLC, led by Luis Villegas of Lowell, bought the 15,000-SF home of the Pachanga Night Club. The nightclub property is on 6.65 acres on Old Missouri Road in east Springdale.

Bilproperties LLC, led by co-managers Mike Aycock and John Richmond of Colleyville, Texas, was the seller.

Legacy National Bank in Springdale provided a loan of $326,000.

Vacant Retail

A 1,304-SF retail building on 1.3 acres on West Martin Luther King Jr. Boulevard in Fayetteville sold for $600,000.

The building has been home to various businesses in recent years, including a bar and a bike shop. It is down the street from the Walmart Supercenter and is adjacent to a retail center anchored by Aldi.

D&H Leasing LLC, led by Hyuna Lee of Little Rock, was the buyer. Remington Place Inc., led by Mike Parker of Fayetteville, was the seller.

Grand Savings Bank in Fayetteville provided a $450,000 loan.