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Springdale Kum & Go Goes for $3.2M (NWA Real Deals)Lock Icon

3 min read

A Michigan investor group paid $3.2 million for a Springdale Kum & Go convenience store.

Agree Realty, a real estate investment trust based in Bloomfield Hills, Michigan, bought the property on Elm Springs Road through its Agree Convenience No. 1 LLC. Agree Realty is led by CEO Joey Agree.

Agree Realty owns more than 1,200 real estate properties in 46 states, including a host of Dollar General stores in Arkansas.

The seller was the John J. Sorci Trust of San Jose, California, led by trustee Kimberly Mattos. The Sorci Trust acquired the property for slightly more than $1.6 million in 2008.

Kum & Go, which is headquartered in Des Moines, Iowa, has a 20-year lease agreement at the location. The facility is 4,700 SF and sits on 1.6 acres.

Just last month, a newly opened Kum & Go in west Fayetteville sold for $6.4 million. The Elm Springs location has been open since 2008.

Fayetteville Mini-Mart

A Little Rock development company paid $1.3 million for a former convenience store on West North Street in Fayetteville.

Blue Whale Development, led by co-founder Eddie Bailey, bought the 5,790-SF property through its Blue CK 758 W North LLC, which also includes Jared Coleman.

Blue Whale has several national retailers as partners, including the convenience store brand Circle K, which is owned by Alimentation Couche-Tard of Canada.

Blue Whale got a $2.24 million loan from Relyance Bank of Little Rock. The building is the former home of a convenience store and laundry facility.

The seller was Mini-Mart LLC, led by Thomas Pevehouse of Fayetteville.

Pevehouse acquired the property in 1977.

Flash Sale

A Tennessee investment group paid $500,000 for a Flash Market convenience store on West Sunset Avenue in Springdale, just off Interstate 49.

Radiant Group of Cos. of Collierville, led by CEO Anwar Aman, bought the property through its Atlas Associates LLC.

Radiant Group operates more than 150 convenience stores and gas stations and is also heavily involved with the Checkers fast-food chain, according to its website.

Financial Federal Bank of Memphis provided a loan of slightly more than $2.2 million.

The seller was Flash Market LLC of Greenville, South Carolina.

Fayetteville Office

A Springdale investor paid $850,000 for a 6,000-SF office on West Sunbridge Drive in Fayetteville.

John Hluboky, through his Haole Properties LLC, bought the former real estate office. Hluboky is an IT security consultant at Haole Hackers.

The sellers were Mad Sky Rentals LLC and Sable Enterprises LLC, each of which owned half the property. Mad Sky is led by Bleaux and Samantha Barnes, and Sable Enterprises is led by Shawn and Dana Daniels. The Bank of Fayetteville provided a loan of more than $636,000.

Dermatology Clinic

A Fayetteville dermatologist paid $739,000 for a dermatology clinic.

Lance Henry, the owner of Advanced Dermatology & Skin Cancer Center in Fayetteville, bought the 3,256-SF building that is home to North Hills Dermatology on North Northhills Boulevard. Henry bought the property through his Annslee Holding Co. LLC. Legacy National Bank in Springdale provided a $663,000 loan.

The seller was Wendell Weed, through his revocable trust. Weed is the owner of the North Hills Dermatology clinic, and he acquired the land for $71,000 in 1990.

Giant Oak

A Prairie Grove investor paid $500,000 for a 4,800-SF office-warehouse on North Futrall Drive in Fayetteville.

Brad Smith, through his Giant Oak Investments LLC, bought the building, which is the home of Jackson-Young Digital Graphics. The seller was JJS Digital Communications LLC, led by Stan Jackson, who co-founded the graphics company in 2000. Jackson acquired the property for $325,000 in 2008.

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