A Fayetteville investor paid $7.4 million for a 6-acre office complex on East Joyce Boulevard that is anchored by Fayetteville’s Social Security Administration branch.
CBP Realty LLC, led by Patrick Cameron, bought the property, which also includes a medical office and Youth Bridge, a shelter and service provider for youths. The seller was Joyce Street LLC, led by Joe Kleine.
Cameron is a former football player for the University of Arkansas at Fayetteville. Kleine was a basketball star at Arkansas before playing 15 years in the NBA.
Joyce Street acquired the land for $167,000 in 2001. It is at the southwest corner of Joyce and Old Missouri Road, just across the street from Paradise Valley Golf Club.
First Security Bank in Fayetteville provided a $7.4 million loan for the purchase.
Springdale Taco Bell
An investment company in Wichita, Kansas, bought a Taco Bell location on East Robinson Avenue for slightly less than $1.8 million.
Commercial Equity Inc. was the buyer of the restaurant, which opened in January. Commercial Equity is led by David Murfin, an oil and gas businessman who invests in real estate.
K-MAC Enterprises Inc. of Fort Smith, one of the largest Taco Bell franchisees in the nation, was the seller. K-MAC, whose leadership includes CEO Sam Fiori and CFO Jon Dyer, obtained the 2-plus acres for $325,000 from Alice Ann Riggins in October 2018.
K-MAC and Commercial Equity signed a 25-year lease agreement for the Taco Bell after the transaction.
A Springdale couple paid $900,000 for an industrial warehouse on Old Missouri Road in Springdale.
David and Natasha Harris bought the warehouse, which is home to a printing company and a fishing lure company. Both companies are vacating the premises after the sale.
C&J Printing & Label Inc., led by Dale Calvert, was the seller. The 59,500-SF warehouse was built in 1984 and is next to Northwest Technical Institute and across the street from the city’s municipal airport. Arvest Bank helped the acquisition with a loan of $1.5 million.
McDonnell Buys Again
Former University of Arkansas track and field Coach John McDonnell paid $1.65 million for a complex of warehouses on Ford Avenue in Springdale.
McDonnell, through his McDonnell Cattle Co. LLC, bought the four buildings with their 24 storage units totalling 28,000 SF on nearly 2 acres of land. McDonnell recently purchased a mini-storage complex for $1.6 million and a 30,000-SF warehouse for $1.37 million.
The seller was Royal Real Estate Holdings LLC, led by Tyler Royal of Fayetteville. Royal owned the property for exactly one year after buying it for $1.4 million in 2018.
A Clever couple paid $891,000 for Casa Villa Shopping Center on South Thompson Street in Springdale.
Gary and Jeanene Volmert — from Clever, Missouri — operate Jenny Craig franchises and bought the center through their Lazarks LLC. The shopping center is anchored by a Subway sandwich shop and is across Thompson Street from Lake Fayetteville just north of the mall.
Zheng Lin LLC was the seller, having acquired the property for $750,000 in 2016. Zheng Lin is made up of Jianfei Lin, Tainquan Zheng, Tianzhao Zheng and Chunli Lin.
First Security Bank in Fort Smith provided a $741,000 loan to assist the purchase. A First Security Bank branch shares the parking lot with Casa Villa.
United Federal Credit Union paid $1.4 million for an empty bank building owned by Simmons Bank of Pine Bluff.
The credit union is headquartered in St. Joseph, Michigan, but has several branches in Arkansas. Simmons Bank acquired the building, on West Sunset Avenue in Springdale, when it bought Metropolitan Bank’s assets in November 2013.
The bank is 3,500 SF and sits on 1.7 acres. Metropolitan bought the building for a little more than $1 million in 2005.