Tractor Dealership Sells for $3.5M (NWA Real Deals)

Tractor Dealership Sells for $3.5M (NWA Real Deals)
(Google Maps)

The ownership of Springdale Tractor paid $3.5 million for the company’s 16-acre facility in Springdale.

KNWA RE Springdale LLC, led by John Scott, bought the property, which includes a 25,380-SF building, on West Sunset Avenue. Scott, along with partners David Slone and Travis Woods, bought the tractor dealership, and three others in northwest Arkansas and east Oklahoma, from Gene and Donna Baker in early 2012.

Gene Baker, who died in June 2012 at age 77, owned Springdale Tractor and the three Kubota dealerships for 40 years before selling to Scott and his partners. Scott, resigned as CEO of United Bank to go into the tractor business.

The Eugene Baker Revocable Trust was the seller of the property, with Donna Baker acting as trustee.

Baldwin & Shell

A group led by the president of the northwest Arkansas division of Baldwin & Shell Construction Co. paid $1.9 million for the company’s Springdale office.

6514 Lynch’s Prairie Cove LLC, led by J. Patrick Tenney, bought the 8,092-SF office; the subsidiary is named after the office’s street address. Tenney joined Baldwin & Shell in 1990 and became northwest Arkansas president in 2014.

Baldwin & Shell Construction Co. of Little Rock was the seller. John Scott Copas is the company’s president and CEO.

Arvest Bank assisted the purchase with a loan of $1.6 million.

Zweig Group Building

An Oklahoma cannabis group paid nearly $1.6 million for a 6,859-SF office building on North College Avenue in Fayetteville.

RedBird Fayetteville Partners LLC, led by William Thurman, bought the home of The Zweig Group, an architectural and engineering consulting firm founded by Mark Zweig. Thurman, a graduate of the University of Arkansas at Fayetteville, is the CEO of RedBird Bioscience of Stilwell, Oklahoma, which calls itself an end-to-end (from growth to sale) medical cannabis company.

In a January interview with New Cannabis Ventures, Thurman said he planned to headquarter RedBird’s management team in Fayetteville. Fayetteville, he said, was 35 miles from RedBird’s manufacturing plant.

“We like the South,” Thurman said. “There are opportunities in Arkansas, which is our neighbor.”

Central Bank in Little Rock assisted the purchase with a loan of slightly more than $1.11 million.

Mark Zweig Inc., a property development company, was the seller of the property. Zweig bought the property for $350,000 in 2013.

Industrial Building

A 19,600-SF industrial building and office sold for more than $1 million.

Luis Sosa and Katie Webb, through their Brite Source Properties LLC, bought the property on Pump Station Road in Fayetteville. It sits on 4 acres and was built in 2000.

ARMI Properties LLC, led by Brett Wolff, was the seller. Wolff is the president of ARMI Manufacturing.

Signature Bank in Fayetteville provided a loan of $884,000.

In 2018, ARMI paid nearly $4 million to Sosa Properties, led by Luis Sosa, for the 82,000-SF warehouse on Armstrong Avenue that was the former home of Lauren James Enterprises.

Springdale Diner

The T&T Diner in Springdale sold for $850,000 to a Siloam Springs entrepreneur.

Jacob Frese Sr., through his J&J Diner Inc., bought the 1,239-SF restaurant from Terry and Patricia Stamps of Springdale. The restaurant is on U.S. Highway 412 in east Springdale.

Frese owns Barnett’s Dairyette and Taco Jake’s in Siloam Springs. Frese took a $840,000 mortgage with the Stampses.

Bayyari Deals

Springdale developer Fadil Bayyari sold two distribution warehouses in Springdale for $550,000.

The warehouses, on Kelley Avenue, total nearly 10,000 SF. Bayyari sold the properties through his Fadil Bayyari Revocable Living Trust.

The buyer was Mohammed Bayyari of Doha, Qatar, through this Albayyari Ventures LLC. Arvest Bank assisted the purchase with two loans totaling $500,000.