Ozark Natural Foods paid $3.6 million for a vacant grocery store at College Avenue and East Lafayette Street just north of downtown Fayetteville.
The nearly 33,000-SF building has housed several grocery stores in recent years, such as Marvin’s IGA and CV’s Family Foods. Ozark Natural Foods is now at 1554 N. College Ave. in the Evelyn Hills Shopping Center, a property it bought for about $2.2 million in 2009.
ONF bought the vacant property through its Ozark Food Cooperative Exchange subsidiary. The seller was the Hubert Charles Agee Jr. Trust, led by Charles and Slader Agee. The Agee Family acquired the property for $1.9 million in 1987.
First Security Bank in Springdale provided a loan of $3.7 million. Ozark Natural Foods’ current location is listed for sale at $3.7 million.
Maple Manor Apartments
A New Jersey investment group paid $7 million for the Maple Manor Apartments complex in Fayetteville.
The Walden Group of Jackson, New Jersey, founded by Steven Schorr, bought the 128-unit complex at 3001 W. Wedington Drive through its subsidiary Maple Manor Equities LLC. The seller was Fayetteville Apartments LP, led by James Dewar of Valdosta, Georgia.
Berkadia Commercial Mortgage LLC of Ambler, Pennsylvania, a Berkshire Hathaway subsidiary, provided a loan of more than $5.6 million.
Lauren James Warehouse
A 82,000-SF industrial warehouse most recently used by Lauren James Enterprises Inc. has been bought by a Fayetteville investor.
Armi Properties LLC, led by Brett Arthur Wolff, paid nearly $4 million for the warehouse at 2575 S. Armstrong Ave. The seller, Sosa Properties, is led by Luis and Leticia Sosa and Fredi and Ana Valle.
Generations Bank in Fayetteville lent more than $3.3 million for the project.
Lauren James, an apparel company founded by Lauren and Lance Stokes, held a “final” sale at the property this summer that First Security Bank tried to prevent in court. Lauren James was later acquired by LJ Apparel.
Storage Units
A Fayetteville investor paid $2.4 million for a self-storage complex in Fayetteville.
Adam Marrone, through his Marrone Self Storage LLC, bought All Around Storage at 2650 S. City Lake Road. The seller was C Quad Development, led by Claudette Cardwell and Candy Clark.
The storage complex, built in 2008, covers 4.7 acres and has 400 units. Live Oak Banking Co. of Wilmington, North Carolina, provided a $2.1 million loan.
Speedy Splash
A Springdale Speedy Splash car wash was bought by a New Jersey company.
Stonebriar Commercial Finance of Princeton, an active player in the northwest Arkansas market, paid $4.5 million for the business at 820 N. 45th St. Stonebriar bought two car washes in January 2018 and another car wash and an animal hospital in Fayetteville in 2017.
The seller was ARSPR ELM, led by Christian Baldwin’s The McLain Group. The car wash is run by Tony and Lori Fitch of Edmond, Oklahoma.
Stonebriar and the Fitches signed a 20-year lease agreement.
Meeks Lumber
Two Meeks Lumber Co. locations in Washington County were bought by an Arizona real estate investment trust.
Meeks Lumber of Springfield, Missouri, was bought in September by two California investment firms, Angeles Equity Partners and Clearlake Capital Group.
Store Capital of Scottsdale paid $3.18 million for the Meeks’ location at 4446 W. Sunset Ave. in Springdale and $2.56 million for the site at 2401 N. Gregg Ave. in Fayetteville. The Meeks’ location at 630 New Hope Road in Rogers was also acquired by Store Capital at an unlisted price.
Store Capital bought the properties through its subsidiaries Store Master Funding XV and Store Master Funding XVI. Store Master Funding XV is listed as the owner of the Rogers property as well.
Citibank provided loans equaling the purchase prices.
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