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Fayetteville Investor Pays $3.75M for Office Square (NWA Real Deals)Lock Icon

3 min read

A Fayetteville investor paid $3.75 million for a 41,800-SF office complex across the street from the Northwest Arkansas Mall on College Avenue.

American Residential Group Inc., led by David Frye, bought 1 Corporate Square. Frye is the CFO of Rausch Coleman Homes, and two of the tenants in the complex are Rausch Coleman Development Group and Rausch Coleman Land Development.

The seller was Cherry Ridge LLC, led by Robert Nolan of Fayetteville.

Chambers Bank of Danville provided a loan of $3.1 million.

RML Auto Deals Worth $35M
RML Automotive NWA paid $35 million when it bought three dealerships in late February in northwest Arkansas.

It bought the Everett Buick GMC dealership in Bentonville for $13.7 million, paid $12.6 million for Everett Chevrolet in Springdale, and spent $8.7 million for Everett Chrysler Dodge Jeep Ram Fiat in Springdale. The dealerships will operate under the name McLarty Daniel.

Greenleaf Townhomes
Bentonville investor Robert L. Hensley bought the Greenleaf Townhomes in Fayetteville for more than $2.1 million.

The 30-unit complex is on North Betty Jo Drive, just west of Interstate 49 off of Wedington Drive. The townhomes total more than 23,700 SF.

The seller was Greenleaf Apartments LLC, led by Thomas Embach of Mountain Home.

Armstrong Bank of Springdale provided a loan of more than $1.7 million.

Eye Care Clinic
An ophthalmologist at The Eye Center bought the clinic for $2.75 million.

Black Dog Holdings LLC of Fayetteville, led by Patrick Risch, bought the 13,700-SF clinic located at 594 Millsap Road in Fayetteville. The seller was Smith Eye Care Properties LLC of Fayetteville, led by Steven and Kellye Smith.

Risch and Kellye Smith are ophthalmologists at The Eye Center. The Smiths bought the clinic in December 2015 for $2.5 million from W.R. McCullough’s WRM Holdings LLC of Fayetteville.

BancorpSouth of Tupelo, Mississippi, lent $3.5 million to assist the sale.

Shaver Street Buildings
Several tracts with warehouse-offices on the 1100 block of Shaver Street in Springdale changed hands in a $1.65 million deal.

CLElder LLC of Springdale, led by Christopher L. Elder, bought the properties totaling about 35,000 SF. Also in the purchase is the 9,000-SF Shaver Plaza.

The sellers were the Sherrel Shaver & Anita Shaver Revocable Living Trust and Shaver Enterprises Inc. Both entities are led by Anita Shaver of Fayetteville.

First National Bank of Fort Smith provided a loan of $1.47 million.

Discount Retail Center
The University of Arkansas paid $1.6 million for a 12,640-SF discount retail center at 639 Martin Luther King Jr. Blvd. in Fayetteville.

The center is across the street from a Walmart Neighborhood Market. The seller was RPC Land Holdings LLC of Avoca, led by Ronald and Polly Connolly.

Storage Units
A Fayetteville investor paid $850,000 for three storage unit complexes in Washington County.

Malone Properties Holdings LLC, led by Ryan Malone, bought two complexes in Prairie Grove and one in Lincoln: at 3612 E. Heritage Pkwy. in Prairie Grove, at 10950 Brady Road in Prairie Grove and at 18043 E. North St. in Lincoln. The two Prairie Grove complexes have a total of 229 units, and Apple Land Storage in Lincoln has 57. The seller was Robert R. Daugherty of Fayetteville.

United Bank of Springdale provided a loan of $680,000. Malone also took a $42,000 mortgage with Daugherty.

Fayetteville Townhouses
A seven-unit townhome complex in Fayetteville sold for $487,000.

ATG Properties, led by Artie Gregory III of Scott, bought the complex located at 2755 N. Sierra Ave. The seller was Avis Rental Properties LLC of Springdale, led by Avis and William Bailey. The townhouses total 6,700 SF.

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