BNSF Logistics Office Sells for $9M (NWA Real Deals)

(BNSF Logistics)

A Little Rock investor paid $9 million for the BNSF Logistics office building in Springdale.

Joel Whicker Jr., through his Two Rivers South LLC, bought the 30,000-SF building on South 48th Street. The property is the corporate campus of BNSF Logistics in northwest Arkansas, which is now part of J.B. Hunt Transport Services Inc. of Lowell.

J.B. Hunt acquired BNSF Logistics a year ago. BNSF Logistics was the brokerage subsidiary of BNSF Railway Co. of Fort Worth, Texas.

The seller was NAS Investment Solutions of Los Angeles through its subsidiary, 2710 Springdale DST. NAS, led by its president and founder, Karen Kennedy, acquired the property for $8.17 million in 2019.

America’s Car-Mart

Two America’s Car-Mart locations in northwest Arkansas sold for $1.8 million each to an Arkansas investor.

Ronald Connolly, through his RPC Land Holdings LLC subsidiary, bought the dealerships on MLK Jr. Boulevard in Fayetteville and on West Sunset Avenue in Springdale. In April, Connolly paid more than $1.28 million for an America’s Car-Mart dealership in Rogers.

America’s Car-Mart will remain tenants at each location.

The seller of all three dealerships was Orion Real Estate Group in Miami. Orion, led by CEO Joseph Sanz, acquired the properties as part of a multi-dealership deal in 2021. Orion paid $1.1 million for the Fayetteville location, $534,000 for the Springdale location and $984,000 for the one in Rogers.

Fayetteville Apartments

A Lowell investor paid $1.68 million for an apartment complex in Fayetteville.

Christopher May, through his Varsity 1500 LLC, bought the 10-unit complex on West Nettleship Street. The complex totals more than 8,500 SF.

The seller was RJ Merry-Ship Property Management Inc., led by Robert J. Merry-Ship of Fayetteville. He bought it for $240,000 in 1998.

Merry-Ship Sales Again

Robert Merry-Ship wasn’t done after selling his West Nettleship apartment complex.

MA Equity LLC and Atkins Holdings LLC paid $900,000 for a 10-unit apartment complex on North Leverett Avenue in Fayetteville from him. The complex totals more than 7,700 SF.

MA Equity is led by Mike Atkins, and Atkins Holdings is led by Kyle Atkins. The two combined the acquisition under their Main Drive Holdings LLC.

Merry-Ship acquired the apartment complex originally for $55,000 in 1994.

Medical Office

A Fayetteville investor paid more than $1 million for a medical office complex in Fayetteville.

Dewitt Goff, through his revocable trust, bought the 2,900-SF building on East Millennium Drive. The building was home to two medical offices.

The sellers were Shane and Sarah Lanning and Ryan and Sarah McClain; each couple owned 50% of the property. They acquired the property for $343,000 in 2010. Shane Lanning and Ryan McClain are partners in Pinnacle Energy Services.

Tyson Foods Acquisition

Tyson Foods Inc. of Springdale paid $830,000 for a retail building on Emma Avenue in downtown Springdale.

The 7,699-SF building is at Hewitt Street and Emma, across the street from Tyson Foods’ corporate office for its information technology division.

The seller was TBB Land Holdings LLC, led by Scott Wray of Fayetteville. Wray acquired the property for $685,000 in 2018.