A Texas group paid $11.1 million for a Holiday Inn Express & Suites in Springdale.
Sunset Galaxy Hotel LLC, led by Kusha Pokharel of Burleson, bought the three-story hotel on West Sunset Avenue. The hotel sits on more than 6½ acres, totals more than 69,000 SF and has 87 rooms and suites.
The seller was Springdale Hotels LLC, led by Vipul Patel and Jignesh Patel of Lafayette, Louisiana. They acquired the property as land for $725,000 in 2017.
Emergency Animal Clinic
An emergency animal clinic in Springdale sold for nearly $10.9 million.
The clinic, which recently opened, is 18,000 SF and sits on 2 acres on Metroplex Drive. It was acquired by Essential Properties, a real estate trust in Princeton, New Jersey.
The tenant is Alliance Animal Health, a national operator of vet clinics.
The seller was Animal 881 Metroplex RE Owner LLC, led by Kevin Ross of Rockville Centre, New York. He acquired the property for $2.15 million in 2021.
Castle Dromborg
A 12,000-SF castle in south Fayetteville sold for $4.8 million to a couple from Texas.
The Dromborg was built by Bruce and Joan Johnson, who own White River Hardwoods in Fayetteville. The four-story castle has five bedrooms, four bathrooms and a 2,200-SF great room and sits on 40 acres on South Lake City Road.
The Johnsons bought the property as land for $265,000 in 2004. They first listed the property for more than $14 million before dropping the price several times over the past decade; the castle was the subject of an abortive auction in 2019.
The buyers were Jon and Vicki Swehla of Rockwall through their revocable trust.
Four 7 Brew, One Price
The 7 Brew corporation paid $2.6 million for four of its coffee locations in northwest Arkansas, three in Benton County and one in Washington County.
Cart Holdings LLC, the coffee company’s LLC, bought two locations in Bentonville and one each in Springdale and Lowell. Each of the 7 Brew locations are approximately 500 SF and feature drive-through-only coffee service.
The seller of each of the four locations was Clearwater Investments LLC, led by Kyle Blevins of Bentonville.
Crossover Home
A 8,500-SF home on Crossover Road in Fayetteville sold for slightly more than $2.5 million.
Kellina Annette Ceola of Fayetteville, through her revocable trust, was the buyer. The home has four bedrooms, seven bathrooms, a pool and sand volleyball court and sits on more than 4 acres.
The seller was the Kay J. Palmer Revocable Trust, led by Kay J. Lewis. Lewis, who was a longtime executive with J.B. Hunt Transport Services Inc. of Lowell, acquired the property for $950,000 in 2015.
Ceola took a $1.9 million loan from Lewis.
Double Dip
An investor from Springfield, Missouri, paid slightly more than $5 million for two commercial office buildings on Investment Drive in Fayetteville.
Curtis Jared, through his Investment Drive Office AR LLC, paid a bit more than $3 million for an 8,052-SF building on 1 acre and slightly more than $2 million for a 7,200-SF building on 0.8 acre. Jared is the head of a real estate investment company, Jared Management.
The buildings are adjacent to each other on Investment Drive, which is west of Steele Boulevard and south of the Northwest Arkansas Mall.
Guaranty Bank in Springfield provided loans of $1.8 million and $1.2 million.
The seller of both properties was Jeff Kemp of Fayetteville. Kemp acquired the properties as land for $466,092 in 2020 and $736,164 in 2017.
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