Fayetteville’s Garden Park Apartments Fetch $17.6 Million (NWA Real Deals)

Garden Park Apartments at 1225 W. Mount Comfort Road in Fayetteville.

Fayetteville’s Garden Park Apartments sold to California investors for $17.6 million.

Canyon View Capital Inc. and Wolfsen Properties, both of Santa Cruz, California, bought the apartment complex through its Garden Park Apartment Investors LLC and Wolfsen GPA TIC LLC subsidiaries. Canyon View is led by President Gary Rauscher, and Wolfsen, a property management company, is led by Lawrence Wolfsen.

Hamilton Point Investments LLC of Old Lyme, Connecticut, was the seller through its HPI Garden Park Investors DST. Hamilton Point is led by Matthew Sharp.

Grandbridge Real Estate Capital LLC of Charlotte, North Carolina, provided a $12.2 million loan for the acquisition.

Garden Park has 246 units and sits on 9.95 acres at 1225 W. Mount Comfort Road.

Springdale Business Center

A 15,572-SF business center sold for $2.7 million.

The office park at 6815 Isaac’s Orchard Road has a dental office, a financial adviser, a title company and counseling service. The Fannie B. Henning Trust, led by Micah Kendall Thompson, Seth Christian Thompson and Martin Dixon Thompson, bought the property.

The seller was NWA Holdings LLC of Springdale, led by Brian Shaw.

Chambers Bank of Danville provided a loan of $1.05 million for the purchase.

Huntsville Road Warehouses

Two Fayetteville retail warehouses sold for $650,000.

JSCMVC LLC of Fayetteville, led by John Purtle, bought two buildings at 2908 and 2932 Huntsville Road from Rolin Park LLC of Hot Springs, which is led by John Selig. The 10,000-SF and 8,000-SF buildings are used by a furniture company and a flea market.

Simmons First National Bank of Lincoln provided a loan of $601,596.96 for the acquisition.

Rollin Park acquired the property in 2006 for $972,000 from Tri-City Investments LLC. The property covers 1.8 acres.

Fayetteville Car Wash

Haag Brown Commercial Real Estate of Jonesboro paid $655,000 for the Suds Carwash in Fayetteville.

In February, Haag-Brown was named Arkansas Business of the Year in the category of companies with 25 employees or fewer. The purchase was made through its Haag-Brown Development LLC, led by Joshua Brown and Greg Haag.

The 3,278-SF car wash is at 2408 N. College Ave., just north of the intersection of College and East Township Street.

The seller was Suds LLC of Springdale, led by Stanley Rogers. Suds acquired the property for $400,000 from Mitchell Oil Co. in 2004.

AAA Business Systems

A 6,000-SF business sold for $500,000 in Fayetteville.

JDT Properties LLC of Fayetteville, led by Wade Timmermann, bought AAA Business Systems at 2715 Drake St. Timmermann is the owner of AAA Business Systems.

The seller was Wagstaff LLC of Fayetteville, led by Mark Wagstaff. Wagstaff acquired the property from Risley Properties LLC for $550,000 in 2008.

Stone Bank of Mountain View provided a $250,000 loan for the acquisition.

Montessori School

Victoria Butler, director of the Fayetteville Montessori School, bought the 3,288-SF building that houses the Montessori Children’s House at 2355 N. Green Acres Road in Colt Square.

Butler bought the property through TTM+R LLC. The seller was Springhill Ranch LLC of Elkins, led by William Pritchard.

Springhill Ranch acquired the property from Gregory Kent Smith for $245,000 in 1997.

Formosa Restaurant

Wei Wei Gan, the owner of Formosa Chinese Restaurant, bought the restaurant’s property in Fayetteville.

Gan, through his Gan Family LLC, paid $450,000 for the 4,015 SF building at 1998 N. College Ave. Gan, a Chinese-born chef, bought the restaurant two years ago.

Sue Mong, the previous owner of the restaurant, sold the property to Gan through her Mong Family Bypass Trust. Gan agreed to a $430,000 mortgage with Mong for the purchase.