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Detroit Investor Nabs CVS in Springdale (NWA Real Deals)

3 min read

A Detroit investor paid $4.56 million for the CVS Pharmacy at 2001 S. Thompson St. in Springdale.

RX Springdale AR LLC, led by Daniel Weiss, bought the property from DBD Nocigs 2 LLC. CVS Caremark Corp. of Woonsocket, Rhode Island, through an entity then known as CVS 10519 AR LLC, acquired the land in 2014 to build the store. CVS changed the name of the owning LLC to DBD Nocigs 2.

Part of the land CVS purchased was a quarter-acre purchased for $300,000 from the James R. Duggar & Michelle A. Duggar Revocable Living Trust, led by TLC reality show stars Jim Bob and Michelle Duggar. CVS paid First Security Bank of Searcy a little more than $1 million for the remaining 2.5 acres that was home to the defunct Sunrise Inn. Symetra Life Insurance Co. of Seattle aided the recent purchase with a loan of $2.95 million. The 13,225-SF Pharmacy opened in 2015.

Super Storage
A Colorado investment group paid $3.1 million for Springdale Self Storage at 1505 S. Old Missouri Road in Springdale.

Wiki Lynx LLC of Keystone, Colorado, purchased the property from 265 Super Storage LLC, led by Richard Leonard and Andrea Jackson of Bella Vista. The 5.4-acre site has 376 storage units.

The center is just across Old Missouri Road from the Springdale airport.

Fayetteville Raising Cane’s
The Raising Cane’s fast-food restaurant on Martin Luther King Jr. Boulevard in Fayetteville changed hands in a $3 million-plus sale.

The seller and buyers are old friends. Kasada LLC, led by Robert Daigrepont Jr. of Baton Rouge, Louisiana, paid $3.16 million for the restaurant at 1740 MLK. The seller was Raising Cane’s Restaurants LLC of Plano, Texas, led by Brad Sanders, the company’s chief development officer.

Raising Cane’s famously got its start in Baton Rouge before expanding to more than 80 locations, including two in Fayetteville. Daigrepont, a CPA, teamed with Raising Cane’s founder Todd Graves to build the business. Daigrepont has held several executive positions with Raising Cane’s, including CFO.

The purchase was part of a $25 million loan from Capital One. Kasada and Raising Cane’s signed a 15-year lease, and Daigrepont agreed not to lease or sell any properties in which he is a majority owner to a fast-found competitor (such as Zaxby’s, Chick-fil-A or Slim Chickens) that is within 1 mile of Raising Cane’s.

Nettleship Apartments
The Nettleship Apartments on Nettleship Street in Fayetteville sold in a $790,000 deal.

Nettleship Properties LLC, led by Ted Belden and Leslie Belden, bought the 16-unit complex. Niblock Ventures Inc., led by George Niblock Jr., was the seller.

In May, Belden bought the Niblock Law Office on North College Avenue from George Niblock Sr. for $1.3 million.

Centennial Bank of Conway assisted the apartment purchase with a loan of just more than $1.9 million.

Haag Brown Move
Haag Brown Commercial Real Estate paid approximately $855,000 for two plots of land on North College Avenue in Fayetteville earlier this year in two separate transactions.

Haag Brown has now sold the two lots for $1.1 million, but the Jonesboro development firm will still be involved. Haag Brown sold the land to Homeboy Investments LLC, led by Michael and Troy Langford.

The Langfords work at Haag Brown and are the project managers for the project at the location, which will be a Starbucks and retail center.

Centennial Bank of Conway assisted the deal with a loan of almost $2.1 million.

New Planet Fitness
A St. Louis investor plans to build a Planet Fitness gym in the Crossroads Village shopping center at the intersection of Highway 265 and Mission Boulevard in Fayetteville.

JDN Fayetteville LLC, led by Douglas Sansone, paid $225,000 for a little more than one-third of an acre in the center. The seller was Bushwood LLC, led by Matt Britt and Wayne Britt.

Matt Britt said Sansone is going to build a Planet Fitness in what was an empty dirt lot adjacent to the Harps Food Store at the south end of Crossroads Village.

Liberty Bank of Alton, Illinois, assisted the development with a loan of $4.7 million.

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