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Foxfire Apartments Sell For $4.5M (NWA Real Deals)Lock Icon

3 min read

A Bella Vista investor paid $4.5 million for the Foxfire Apartments in Springdale.

Noth LLC, led by Nancy Cullins, bought the 82-unit, 22,000-SF complex on South West End Street. The complex is on 4 acres a few blocks east of Shiloh Christian.

The seller was LW Foxfire LLC of Cave Springs, led by Jerry Laxen and Brian Wagers, who bought the complex for $2.9 million from Charles Palmer of Fort Smith in 2019.

Wagers is the founder of Wagers Capital, a multifamily real estate investment company, and Laxen is the owner of Laxen Painting and an investor in Wagers Capital. Arvest Bank of Fayetteville provided a loan of $3 million.

Starbucks Anchor

A 7,000-SF retail center anchored by Starbucks on North College Avenue in Fayetteville sold for $2.625 million.

The buyer was Township Plaza LLC, led by Michael Rapella of Oklahoma City. Rapella was represented by Jay Cohimia of Newmark Robinson Park.

Southwest Bank of Weatherford in Oklahoma lent $1.8 million for the deal.

The seller was Homeboy Investments LLC, led by Mike Langford of Fayetteville. Langford was represented by Alan Cole and Mason Lewis of Colliers Arkansas.

Maverick Property

The Maverick Commercial Park in north Fayetteville sold for $2.3 million.

OIG LLC, led by John William Anthony of Fayetteville, bought the 15,424-SF. It is on Johnson Mill Boulevard just off Interstate 49. Bank OZK provided a loan of a little less than $1.16 million.

The seller was KWMPR 3801 Main LLC, led by Larry Robison of Bentonville. Robinson acquired the property, which includes a one-half acre tract fronting the building, for $2.2 million in 2017.

King Burrito

A fast-food restaurant site in Springdale sold for $1.69 million.

Hillcrest Holdings LLC, led by Gary Nichols of Johnson, bought the King Burrito location on West Sunset Avenue. The building is 3,043 SF. Arvest Bank provided a loan of $1.35 million.

The seller was West Sunset Holdings LLC, led by Matt Sitton and Ben Butler of Springdale. Sitton and Butler acquired the property for $1.4 million in 2020.

Public Housing

The Fayetteville Housing Authority sold the Country Side Apartment complex on West Deane Street for $1.35 million.

The buyer was BDM Realty LLC, led by Dustin Davis of Elkins. The FHA sold the property, acquired for $1.3 million in June 2020, through FHA Development Inc.

The complex has 27 units in eight buildings totaling nearly 21,000.

BancorpSouth Bank of Tupelo, Mississippi, provided two construction loans totaling more than $5.2 million.

Farmington Storage

A 77-unit mini-storage complex and adjacent office building sold for $1.2 million to a Farmington investor. The properties, on Main Street, were bought by Aaron Cater through his Mitchell Square LLC. The office building is 3,000 SF and the storage units total 11,000 SF-plus.

Bank OZK provided a loan of nearly $970,000. The seller was Barbara Jeanette Schaefer. Fred and Barbara Schaefer acquired it for $1.2 million in 2010.

Retail Center

A 5,076-SF retail center in west Fayetteville sold for $1.15 million.

Blue Buffalo Properties LLC, led by Justin White of Bentonville, bought the center, on Martin Luther King Jr. Boulevard. The center houses a beauty mart and a salon. Encore Bank of Little Rock provided a loan of $956,250.

The seller was Yong Garner of Farmington. Garner bought the property as land in 2015 for $117,500.

Commercial Building

A three-story office building on Gabel Drive in Fayetteville sold for $850,000.

The Barrett Family Trust, led by Gerald and Felice Barrett of Springdale, bought the 8,174-SF commercial building. It is just south of Zion Road and east of College Avenue across from the Northwest Arkansas Mall.

The seller was J-Ease LLC, led by John Ervin of Fayetteville. Ervin acquired the property for $675,000 in 1999.

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