$19M Deal Gets Tyson New Space (NWA Real Deals)

Tyson Foods Inc. of Springdale paid $19.3 million for a 134,000-SF office complex on South Thompson Street in Springdale.

The company bought the facility to help with its OneTyson transformation, the initiative to move its executive teams from Chicago and Downers Grove, Illinois, and Dakota Dunes, South Dakota, to Springdale. 

The relocations will involve about 1,000 employees from the three satellite offices and will begin in 2023. 

Tyson Foods said the facility would be called Tyson on Thompson and be home to as many as 1,000 employees.

Tyson Foods has also said it plans to renovate and expand its existing headquarters complex on Don Tyson Parkway.

“The building will provide more space and flexibility as we consolidate our corporate offices and expand world headquarters,” Tyson Foods said in a statement.

The seller was Walmart Inc. of Bentonville. The property was once a Sam’s Club before Walmart converted it to a call center in August 2019. 

Uptown Fayetteville Land

A 1.6-acre tract on North Steele Boulevard adjacent to the Malco Theater sold for slightly more than $1.1 million.

The 3956 N Steele Blvd LLC, led by Jae Yim Shim of Marietta, Georgia, was the buyer. Shim is a Korean restaurateur in Georgia.

The seller was Lightman Fayetteville Co. LLC of Memphis. Lightman is led by Mark Puckett, the trustee for the Michael Lightman 2012 Family Trust.

Lightman is the landlord for the neighboring theater.

As part of the transaction, Lightman and Shim agreed on a number of businesses that could not be put on the property without the theater’s permission.

Finger-Lickin’ Sale

A Florida investor paid more than $1.2 million for a fast-food restaurant in Springdale.

Rives Invest LLC, led by Eric Grabois of North Bay Village, bought the KFC on South Thompson Street.

The 3,365-SF restaurant will continue at the location through a lease agreement with Rives Invest.

The seller was FMI US Property Holdings LLC, a subsidiary of FMI of Woodstock, New Brunswick, Canada. FMI — Franchise Management Investors — owns more than 300 fast-food restaurants in North America, according to its website.

FMI acquired the property for slightly more than $1 million in 2016.

Auto Repair

A&E Auto Center at 1324 Crutcher St. in Springdale bought neighboring property for $1.15 million. 

Edgar Hernandez, through his A&E Auto Center Inc., bought three parcels totalling 2.5 acres at 1326 Crutcher St.

Arvest Bank of Fayetteville provided a loan of $1.21 million. The seller was Mid-Con Mfg. Inc., led by President Gary Larue.

Mid-Con assembled the land in three deals in 1977 and 1988 totaling $190,000. 

The sellers were Lawrence and Lois Phipps, Victor and Elaine Risley and PG Walker & Son Inc., led by Louis Wyrsch.