A Georgia real estate firm paid $5.2 million for 14.5 acres on Razorback Road just south of Martin Luther King Boulevard in Fayetteville.
Landmark Properties of Athens, Georgia, bought the property through its Retreat at Fayetteville LLC subsidiary. One of Landmark’s brands is called The Retreat, which are student townhome housing complexes.
Landmark also operates the Cottages on Hollywood, a 193-unit apartment complex in Fayetteville. A Landmark spokesperson said the company would announce its specific plans for the property in the “coming weeks.”
The purchased property is just north of Baum Stadium and south of the University of Arkansas campus. It has a 31,597-SF warehouse facility on site.
The seller was Arka Inc., led by Frank Haney Jr. of Fayetteville. Haney is the president of the Franklin L. Haney Co., which was founded by his father and which is a national real estate development company and owner of Premium Brands, a beer distributor in Fayetteville.
First Citizens Bank & Trust Co. of Raleigh, North Carolina, provided a construction loan of more than $47 million.
A new car wash in Fayetteville has a new landlord after a sale-leaseback.
Greener Pastures OZ Fund LLC, led by Gregory Hansen of College Grove, Tennessee, paid $4.1 million for the Take 5 Car Wash on Martin Luther King Boulevard, just off of Interstate 49. The seller was Driven Brands of Charlotte, North Carolina, which operates Take 5.
Driven Brands, through its Boing US Holdco Inc. subsidiary, bought the property for $1.4 million in May 2021.
So Long, Hooters
A long-empty Hooters restaurant and a surrounding tract of land sold for $2.725 million.
DCM Management, led by President Robert Goltermann, bought the 4,897-SF restaurant and adjacent 7-plus acres through its Claude Shiloh LLC. The property is on North Shiloh Drive, just south of the Northwest Arkansas Mall in Fayetteville.
The Fayetteville City Council approved rezoning in 2021 to allow DCM to build a multiuse development on the site. Midlands State Bank of O’Fallon, Missouri, approved a $2.5 million construction loan.
The sellers were a group of owners that also own the mall: NW Arkansas Mall Realty LLC, led by Igal Namdar; NW Arkansas CH LLC, led by Matin Hakimi; and NW Arkansas Nassim LLC, led by Elliot Nassim.
Liquor store owner Wade Simpson paid $1.775 million for a 12,000-SF retail center anchored by his Liquor Mart & Wine Shoppe store.
The center, which covers 2.5 acres, is on North College Avenue in Fayetteville. Simpson bought the property through his War Eagle Real Estate LLC.
Signature Bank of Arkansas of Fayetteville provided a loan of $1.5 million.
The seller was Whitfield Painter Enterprises LLC of Horn Lake, Mississippi, which is led by Andrea Lynn Whitfield.
A Lowell businessman paid $960,000 for a duplex complex in Fayetteville.
Miguel Jimenez and his wife, Dawn, bought 12 units on Betty Jo Drive that total 12,800 SF. Jimenez is the owner of Jimenez Marble in Lowell.
Arvest Bank of Fayetteville provided a loan of $810,000. The sellers of all 12 units were Jose and Anani Mariscal of Lowell. The Mariscals acquired the properties in two deals; eight units were purchased for $325,000 in 2013 and four units were bought for $103,000 in 2011.
Future Circle K
A Little Rock group that develops Circle K convenience stores paid $750,000 for a 0.87-acre tract of land in Johnson.
Blue CK Johnson LLC, a subsidiary of Bluefin Development LLC, bought the lot at the southwest corner of Johnson Mill Boulevard and South 48th Street. Bluefin is led by Jared Coleman, Tom Price, Tyler Pierce and Michael Kelly. Artes Capital REIT I LLC provided a loan of $3.875 million. It is a subsidiary of Artes Capital of Westlake Village, California. The seller was Maverick Properties LLC, led by Matthew Dearnley of Little Rock. n