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Dallas Equity Firm Buys Storage Centers (NWA Real Deals)Lock Icon

3 min read

A Dallas real estate investor paid more than $22 million for three self-storage complexes in northwest Arkansas.

Dallas Beck, through subsidiaries, bought two in Fayetteville and one in Springdale. He heads WynCap Management LLC, which operates the purchasing subsidiaries, and founded Kanesville Capital, a private equity firm.

Beck paid $8.45 million for Ozark Self Storage on North Maestri Road in Springdale and $7.4 million for the 474-unit Double Springs Storage complex on Double Springs Road in west Fayetteville. He paid $6.2 million for 122-unit Elkins Mini-Storage on North Center Street in east Fayetteville. All three are also U-Haul rental locations.

Grant Street Funding of Dallas provided a loan of $13.7 million.

All three were sold by Gregson LLC of Fayetteville, led by Nathanael Magre. John Ed Gregson Sr. and John Ed Gregson Jr. acquired them between 2008 and 2018 for about $1 million.

Springdale Starbucks

A newly opened Starbucks coffee site in Springdale sold for $2.6 million.

Sparmere Associates LLC and Property Resources Corp. East LLC of Palm Beach, Florida, bought the location on North 48th Street. Sparmere acquired more than 90% of the property; both LLCs are subsidiaries of Property Resources & Co. of Palm Beach, led by Meredith Bagby. The Starbucks opened in October. 

The seller was ETO LLC of Jonesboro, led by Greg Haag and Joshua Brown. Haag and Brown lead Haag Brown Commercial Real Estate Development, a company known for its development of Starbucks in the state.

Haag Brown acquired the property as part of a $2.3 million purchase in March 2022. It is adjacent to Mercy Hospital in Springdale at the southeast corner of 48th Street and Elm Springs Road.

The two remaining tracts of that purchase are in development.

Blue Cliff College

A Texarkana investor paid $2.1 million for the former home of Blue Cliff College in Fayetteville.

Curt Green, through his GX 16 Fayetteville College LLC, bought the 9,101-SF facility on North College Avenue. Green is also the president of the I-49 International Coalition lobbying for completion of the interstate between Fort Smith and Texarkana.

The massage therapy college closed at the beginning of the COVID-19 pandemic in favor of an online platform. 

Red River Employees Federal Credit Union provided a loan of $973,800. 

The seller was Thevenot-Welborn Properties of Nashville, Tennessee, led by Peter Thevenot. Thevenot-Welborn got the property for $182,000 in 1984.

Thompson Plaza

A New Jersey investor paid above $1 million for a Springdale shopping center. 

KBR Springdale Properties LLC of Edison, New Jersey, led by Bapuji Kothapalli, bought the 10,116-SF Thompson Plaza on South Thompson Street, including. Included in the purchase is a 4,766-SF commercial building. First Western Bank in Rogers provided a loan of $816,000. 

The sellers were Taldo Properties LLC, led by Philip Taldo, and TGC Rentals LLC, led by Gary Griffin. Taldo and Griffin acquired the property for $470,000 in 1999.

Springdale Warehouses

A series of warehouse complexes in Springdale sold for $2.8 million.

The buyers were Mside Fay LLC, led by T.J. Lefler, and Ribble Investment Co. LLC, led by Alan Ribble. Lefler and Ribble will each own 50% of the properties. The nine warehouses total more than 43,700 SF on more than 3.3 acres on Shaver Street. 

Citizens Bank in Batesville provided a loan of $2.7 million.

The seller was Chris Elder through his Clelder LLC of Fayetteville. Elder acquired the property in 2018.

Fayetteville Offices

Two neighboring office buildings on North College Avenue sold for $850,000.

Boston Mountain Holdings LLC, led by Christopher Hamaker, was the buyer. Hamaker is a real estate investor and leads Boston Mountain Real Estate. Signature Bank provided a loan of $952,000.

The first building is 2,581 SF and is home to Lazenby Real Estate; the second is 4,704 SF and is vacant.

The seller was William Lazenby through his Irene 2 LLC. He acquired the properties for $24,000 in 1969.

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