Heartland Honda Changes Owners (NWA Real Deals)

(Google Maps)

Heartland Honda in Springdale has a new owner after a $5.6 million sale.

Blake Young, through his Springdale Powersports Real Estate LLC, bought Heartland Honda on South 48th Street. Young is the managing partner of Wood Powersports Group, which sells a variety of vehicles such as all-terrain vehicles, motorcycles and mowers in three locations in northwest Arkansas.

Heartland Honda has a 27,000-SF facility on 1.6 acres.

The business will now be known as Heartland Honda by Wood Powersports, said Heartland Honda General Manager Greg Donahoe. Greg and Mark Donahoe, who co-owned Heartland Honda, will remain with the company.

Anstaff Bank provided a $4.8 million loan.

The seller was the joint revocable trust of Jack and Nancy Donahoe of Springdale, which acquired the property for $1 million in 2005. The couple had purchased Heartland Honda in 1996 before passing the business to their sons.

Willow Park

A Fayetteville apartment complex sold for $6.3 million to a local real estate investor.

Karina Sosa, through her 1777 Holdings LLC, bought the Willow Park complex on West Preservation Drive. The 46,516-SF complex has 56 units.

Signature Bank of Arkansas provided a loan of $4.7 million.

The seller was SRS Equity Fund III LLC, led by Chris Stout of Shrewsbury, New Jersey. Stout is the founder and CEO of StoutCap, a New York City investment firm.

Stout acquired the complex for $4.9 million in 2023.

Picking Up Steaks

The former home of Ruth’s Chris Steak House in Rogers sold for $4.8 million.

Pinnacle SNS LLC, led by Thomas Vaughan Jr. of Little Rock, bought the 9,478-SF restaurant on South Pinnacle Hills Parkway. It was the original location for the upscale steakhouse that opened in 2007 and recently relocated to West Northgate Road.

The seller was Chops Properties LLC, led by William Orgel of Key Largo, Florida. Orgel is the Ruth’s Chris franchisee in Rogers.

He acquired the property for $1.875 million in 2007.

Vantage Point

The Vantage Point apartment complex in Springdale sold for $4.4 million.

Vantage RE Holdings LLC of New York City, led by Alex Roth and Karina Sosa, bought the 58-unit complex. The complex totals 41,600 SF and sits on more than 3.8 acres.

Legacy National Bank provided a loan of $4.25 million.

The sellers were Tiel Tree LLC and First Story LLC. Tiel Tree, led by Darren Printz of Allen, Texas, originally acquired the property for $1.5 million in 2013.

Printz sold 25% of the property to First Story, led by Jim Bryan of Lowell, for $375,000 in 2016.

Fayetteville Office Complex

A 10,000-SF office complex in Fayetteville sold for $900,000.

JRC Commercial Management LLC, led by Derrick Calhoun, bought the complex on East Poplar Street. The office building sits on 1 acre.

Farmers & Merchants Bank provided a loan of $765,000.

The seller was Springhill Ranch LLC, led by William Pritchard of Elkins. Pritchard acquired the property for $420,000 in 1999.

Reddish Warehouse

An office-warehouse in Springdale sold for slightly more than $1 million.

Midland Properties South LLC, led by Joseph Eual Austin of Elkins, bought the 7,200-SF complex. The property includes a 1,200-SF office and sits on 1.4 acres on Reddish Lane in Springdale.

Signature Bank of Arkansas provided a loan of $824,000.

The seller was Emcar Properties LLC, led by Carlos Gallegos of Fayetteville. Emcar acquired the property for $400,000 in 2023.