The Old Post Office building on the Fayetteville downtown square sold for $2.28 million.
Arnold Holdings LLC, led by Mike and Jane Arnold of Little Rock, bought the 13,450-SF building at 1 W. Center St. The seller was Fayetteville OPO LLC, led by Jim Huson of Fayetteville.
Huson, owner of Doe’s Eat Place in Fayetteville, listed the building for $3.18 million in April 2017. Huson bought it for $1.3 million from Ronald Bumpass in 2013.
The building was built in 1911 and was most recently the headquarters for John James’ Hayseed Ventures. Hayseed Ventures relocated to 245 E. Township St. in spring 2017.
Fayetteville Shopping Center
A Missouri real estate group paid $1.6 million for a shopping center in Fayetteville.
Overland Properties LLC of West Plains, Missouri, a subsidiary of the Overland Group, bought the 11,324-SF Sycamore Center at 1680 N. College Ave. Overland Properties is led by Rod Hamby, a partner at the Overland Group.
The seller was Richard L. Thomas of Torrance, California. Southern Bank of West Plains provided a loan of $1.2 million. The retail center is anchored by a dry cleaner and a sandwich shop.
New Breakfast Chain Site
A national restaurant chain looking to expand into northwest Arkansas has found its location.
A former Zaxby’s restaurant at 3251 N. College Ave. in Fayetteville sold for nearly $1.2 million to a pair of Springfield, Missouri, investors. The investors, James Tillman and Joseph Hulston, are real estate partners prominent in Springfield and have agreed to open at least five restaurants in northwest Arkansas and southwest Missouri for First Watch, The Daytime Cafe of University Park, Florida.
First Watch has approximately 330 restaurants, including Egg & I sister restaurants, in 29 states.
Tillman and Hulston bought the property through their North College Ave. Investments LLC and plan to open their restaurants under their National & Battlefield Investments LLC.
SSRT Holdings LLC, led by Thomas Scott III of Athens, Georgia, was the seller. The former Zaxby’s is 4,052 SF and sits on 1.5 acres. Springfield First Community Bank assisted the purchase with a loan of $940,000.
Rezoned Property
A property rezoned by the Fayetteville City Council in 2017 sold for $727,000.
MA-RI Properties, a subsidiary of Sam Mathias’ Mathias Shopping Centers Inc. of Fayetteville, bought the 2.62-acre tract at 2621 E. Mission Blvd. A single-family, 1,285-SF house sits on the property, which is just off the busy intersection of Mission and Crossover.
The City Council voted unanimously in 2017 to rezone the property from neighborhood commercial to commercial services. Mathias bought the property from Simmons Bank, which acquired it along with Metropolitan National Bank of Little Rock in 2013.
Simmons assisted the purchase with a loan of nearly $550,000.
School Avenue Retail
A 6,626-SF retail store in Fayetteville sold for more than $1.3 million.
George and Rosemary Faucette bought the former Advance Auto Parts and current Fastenal store at 796 School Ave. George Faucette is the co-CEO of Coldwell Banker Harris McHaney & Faucette realty company in Fayetteville.
The sellers were Maximo and Raquel Berdal of Hayward, California.
Garage Warehouse
A 22,269-SF garage and warehouse in Springdale sold for $890,000.
Diversified Financial Holdings LLC, led by Gary Richardson, and Fayetteville Fund LLC, led by Jordan Jeter and Philip Schmidt, bought half-interests in the property at 419 E. Robinson Ave. in east Springdale. A trucking repair company leases part of the property.
Upward Investments LLC, led by Jared and Leslie Thomson of Springdale, was the seller.
The buyers got a $77,775 construction mortgage from Simmons Bank to give the building a “little TLC,” said Jeter, a partner at Flake & Kelley Commercial Northwest in Springdale.
Sign up for Daily E-news
