Illinois Firm Pays $11.9M for Champions Club (NWA Real Deals)

Illinois Firm Pays $11.9M for Champions Club (NWA Real Deals)
The Champions Club is a 76-unit student apartment complex on South Razorback Road in Fayetteville. (Google Maps)

The Champions Club student apartment complex in Fayetteville sold for $11.9 million.

232 Champions Club LLC, led by Aleksandr Kogan of Wilmette, Illinois, bought the 76-unit, 53,160-SF complex on 4.4 acres.

Champions Club is on South Razorback Road across the street from Baum Stadium, the baseball venue of the University of Arkansas. It is the second time the complex has sold in a little more than one year.

First Security Bank of Searcy provided a loan of $11 million. 

The seller was Marker Champions Club LLC, a subsidiary of Marker Investments of Newtown Square, Pennsylvania. Marker is led by founder Brian Thompson and is an investment company that specializes in student housing.

Marker acquired Champions Club in June 2021 for $10 million. 

Howse It Going

A California investor paid $6.2 million for the Bentonville location of the furniture and interior design company Howse.

Gary Burk, through his Burk Utah 243-253 LLC, bought the 39,652-SF property, which includes warehouse, office and retail space. It is located on SE Otis Corley Drive in Bentonville. 

Simmons Bank of Pine Bluff provided a loan of more than $1.9 million.

Howse was founded by Jay Howard, who is also the company CEO. Howard was also the founder of I.O. Metro before leaving that company in 2012 and starting Howse in 2015.

Howard acquired the property for slightly more than $3 million in 2020.

Plastic Surgery Center

A Missouri real estate investor paid $1.5 million for a plastic surgery medical clinic in Fayetteville.

Curtis Alan Jared, who heads Jared Management in Springfield, bought the 4,648-SF Northwest Arkansas Center for Plastic Surgery on West Van Asche Loop. Jared purchased the property through his 137 W Van Asche Loop Fayetteville LLC.

First State Bank of Russellville provided a loan of $750,000.

The seller was D. Heath Stacey, a plastic surgeon and founder of the clinic. Stacey acquired the property as land for $340,000 in 2013. 

Springdale Warehouses

Fayetteville real estate investor T.J. Lefler paid $3 million for a warehouse complex in Springdale. 

Lefler, the founder of Lefler Capital, bought the property through his TL Sdale Warehouse Leasing LLC. The site includes multiple warehouses totaling about 60,000 SF on slightly more than 6 acres.

Citizens Bank of Batesville in Rogers provided a loan of slightly more than $2.6 million.

The seller was Industrial Leasing Inc. of Fayetteville, led by Gaye Cypert. It acquired the property for $15,000 in 1964.

Fayetteville Cobbler

Fort Smith investors paid $640,000 for a 4,720-SF retail building just north of downtown Fayetteville.

SGW Mountaintop LLC, led by Matthew Scott and Christopher Weeks, bought the property on North College Avenue. The building houses Clardy’s Cobbler Shoppe, which is owned by Jeffery and Marietta Clardy. 

The Clardys were the sellers. They acquired the property for $125,000 in 1990.

Speedy Splash Car Wash

Club Car Wash of Columbia, Missouri, bought 10 Speedy Splash Carwash locations in northwest Arkansas.

Club Car Wash did not release the price of the acquisition, which also included a car wash in Oklahoma. The company said the purchases give it more than 100 locations in the United States.

The Speedy Splash locations will be renamed Club Car Washes by the end of the year, the company said. 

The Speedy Splash car wash locations were developed by The McLain Group, led by Scott McLain, which then purchased the properties in 2019. Club Car Wash signed long-term leases for the locations with McLain’s SSOP LLC.

Four of the locations are in Fayetteville and two are in Springdale, with one each in Bentonville, Rogers, Lowell and Siloam Springs.