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$2.75M Sale-Leaseback of Wedington Animal Hospital (NWA Real Deals)Lock Icon

3 min read

A New Jersey finance company bought the Wedington Animal Hospital in Fayetteville for $2.75 million.

Stonebriar Commercial Finance of Princeton bought the property through its SCF RC Funding IV LLC. In October, Stonebriar purchased a Zips Car Wash in Springdale through the same subsidiary for $2.1 million.

Stonebriar agreed to a 20-year lease with ZBS Pet Care of New York City with four five-year options after. ZBS is a subsidiary of ZBS Capital, which purchased the animal hospital in May 2017 for $1 million from North College Animal Hospital, led by Jimmy “Jack” Herring, the lead veterinarian at the hospital.

The 9,800-SF animal hospital is on 1.48 acres at 4363 W. Wedington Drive.

Herring acquired the property for $280,000 in 2001 from West Holdings LLC, led by Randy West.

Fayetteville Apartments
A six-unit apartment complex in Fayetteville sold for $540,000.

Lauren Greenlee and Daniel Miller, both of Fayetteville, bought the six-unit property at 1603 N. Leverett Ave. The complex has slightly more than 3,400 SF.

Cedar Mountain Properties LLC of Fayetteville, led by Thomas Smith, was the seller. Cedar Mountain bought the complex for $325,000 in 2015 from Lightbearers Ministries. The Bank of Fayetteville, now part of Farmers & Merchants Bank of Stuttgart, assisted the purchase with a loan of $432,000.

Red Rooster
The owners of Red Rooster Design paid $264,000 for the office building where the company is located.

Brad and Ali Williams of Fayetteville bought two units at 390 W. Fifth St. Red Rooster Design produces websites and graphic designs.

Mill Project LLC of Bentonville, led by Phillip Todd Jacobs, was the seller, and Signature Bank of Arkansas provided a loan of $224,400.

Holcomb Street Office
A 4,562-SF office in Springdale sold for $250,000.

Holcomb Street LLC of Fayetteville, led by Daniel Hintz and Keaton Smith of the Velocity Group, was the buyer of the office at 326 S. Holcomb St.

Hintz is the founder of the Velocity Group, which works in urban planning and project developments.

The sellers were Jeffrey and Debbie Wood of Springdale. The property once housed Marketing Partners.

First National Bank of Fort Smith assisted the purchase with a loan of $256,000.

Washington County Land
A Johnson investor paid $530,000 for about 400 acres in south Washington County. Hillcrest Holdings LLC, led by Gary Nichols, bought the land, which is mostly timber, from Long Family Revocable Trust of Springdale, which is led by Gene and Cheryl Long. The land is east of Interstate 49 and adjacent to Highway 71.

A 520-SF home on the tract was built in 1969. Grand Bank of Tulsa provided a $428,000 loan.

It is the latest in a series of acquisitions by Hillcrest Holdings and Nichols. Nichols paid $13 million for the Tuscany Square retail center in Rogers in March, and $2.1 million for the 120,000-SF All-Star Sports Arena in Springdale in June.

In 2016, Nichols paid $1.2 million for a Fayetteville office complex and $2.8 million for a Springdale retail center.

Toy Drive House
A Fayetteville home on Toy Drive sold for $630,000.

Jimmy and Teresa Lollis of Fayetteville bought the 3,555-SF home from Todd and Marla Hanlin. Quicken Loans of Detroit provided a $504,000 loan. The Hanlins bought the home in 2005 for $485,000 from William and Jennifer Murry.

Tonitown Home
A 4,779-SF home on three acres in Tontitown sold for $580,000.

David and Lori Ables bought the house from Jake and Layne Keen. The Keens acquired the house in 2010 for $327,000 from First Horizon Home Loans, which had acquired it in default of a loan from Joe and Roberta Gonzalez in 2009.

SIRVA Mortgage of Independence, Ohio, provided a loan of $330,000.

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