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Support Network Sells Springdale HQ in $2.7M Transaction (NWA Real Deals)Lock Icon

3 min read

The Arkansas Support Network, a nonprofit organization that works with people with developmental disabilities, sold two properties for $2.7 million.

The properties are adjacent to each other on Isaac’s Orchard Road in Springdale. The 9,794-SF building housing the company’s headquarters sold for $1.875 million, and a 4,968-SF office building next door sold for $825,000.

Both properties were bought by Magnum Associates LLC, led by Parvez Yunusbhai Musani of Bentonville. First National Bank of Fort Smith provided loans of $1.45 million and $650,000.

The Arkansas Support Network is led by CEO Syard Evans and founder Lynn Carver. ASN acquired the headquarters building from Joel Carver in 2005, and it paid Joshua and Curtis Smith $750,000 for the office building in 2013.

Fayetteville Warehouses

A Fayetteville real estate investor paid $1.3 million for 38,132 SF of warehouses.

The buyer was Sterling Holdings LLC, led by Tim Brisiel.

The two buildings are at South West Avenue and West 15th Street, adjacent to the Salvation Army Thrift Store. The property covers 2.7 acres.

First National Bank of Fort Smith assisted the purchase with a loan of slightly more than $1 million.

The sellers were Brian and Donna Buell of Fayetteville, who acquired the property for $775,000 from the Ralph & Nancy Goff Trust in 2006.

Oakland Apartments

Northwest Arkansas real estate investor Robert Ryan Russell paid $1 million for an apartment complex on North Oakland Avenue in Fayetteville.

The complex contains 16 units and 8,768 SF in two buildings. Signature Bank of Arkansas provided a loan of $600,000.

The seller was the Asfahl Revocable Trust, led by trustees Charles Raymond and Kela Suzanne Asfahl. The Asfahls bought the property for $100,000 from David and Jeane Randle in 1994.

East Fayetteville Land

A plot of 4.28 acres in east Fayetteville sold for $600,000.

M&A Holdings LLC, led by Mel and Amie Collier, bought the property on East Huntsville Road. Mel Collier is the owner and president of Collier Drug Stores in Fayetteville.

Grand Savings Bank in Fayetteville assisted the purchase with a loan of $540,000.

The seller was First State Bank in Lonoke. First State Bank acquired the property in 2010 in lieu of foreclosure from Stonebridge Commercial Park LLC, led by Gary Combs, the northwest Arkansas developer who died in 2012.

Office-Retail Building

A 9,600-SF office-retail building on North Market Avenue in Fayetteville sold for $950,000.

Remington Place Inc., led by Mike Parker of Fayetteville, bought the property. The seller was Neal Hefner of Springdale.

Hefner acquired the property for $700,000 from John and Sandra Hopkins in 2007. Parker took a loan of $496,000 from Hefner.

Fayetteville Studios

A complex of 10 studio apartments on South Church Avenue in Fayetteville sold for $662,500.

Sunland Group LLC, led by Fernando Guevara, bought the 3,276-SF complex. Armstrong Bank in Springdale helped with a loan of $496,875.

The seller was HNC Properties of NWA LLC, led by Matt Champagne. Champagne acquired the property for $225,000 in 2012 from Mid-America Management Associates LLC, led by Richard Osborne.

Fleet Feet

A former Fleet Feet location in Fayetteville sold for $525,000.

James and Allison Benton bought the 3,950-SF retail building at 1020 E. Harold St. Jim Benton is the owner of PolyTech Plastic Molding in Prairie Grove.

The Bank of Fayetteville assisted the purchase with a loan of $446,250.

The sellers were Russell and Andrea Gunnell of Fayetteville. Russ Gunnell was the owner of the Fayetteville Fleet Feet store.

The Gunnells acquired the property for $160,000 in 2000.

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