A 16,000-SF retail center on South Thompson Street in Springdale. (Parcel lines are approximate.)
A 16,000-SF retail center, anchored by James & James Furniture, sold for $2 million.
Gary Griffin, the founder of the real estate firm The Griffin Co., and his wife, Jan, bought the property in the 4200 block of South Thompson Street in Springdale.
The Griffin Co. merged with Weichert Realtors in 2009 to form Weichert Realtors-The Griffin Co.
The seller was Hash Properties, led by Brett Hash of Cave Springs.
Hash acquired the property in January 2019 for $1.5 million.
First Western Bank in Rogers assisted the purchase with a loan of $1.58 million.
Housing Authority
The Fayetteville Housing Authority paid $865,000 for 18 apartment units on East 12th Street in Fayetteville.
The apartments are adjacent to the authority’s Morgan Manor complex. The authority, led by Executive Director Angela Belford, bought the units through its FHA Development Inc. subsidiary.
The seller was Stone Street Rentals LLC, led by John Cloyed. Cloyed acquired the 18 units as part of a $1.75 million deal with Williams Holdings LLC, led by Donald and Paul Williams, in 2017.
Simmons Bank of Pine Bluff assisted the purchase with a loan of $858,000. The Fayetteville Housing Authority also took a $11,300 mortgage with Cloyed.
Bentonville Fitness
A 24,000-SF fitness center in Bentonville sold for $1.4 million to a Springdale investor.
David Mancia, through his Mancia Properties LLC, bought the property at 2614 SE J. St. The seller was GG of NWA LLC, led by Michael Charlton.
Citizens Bank in Fayetteville assisted the purchase with a loan of more than $1.1 million.
Fayetteville Fitness
A 10,500-SF retail center that features a fitness center sold for $800,000.
Sosa Properties LLC, led by Saul and Karina Sosa of Springdale, bought the property that spans Colt Square Drive and North Green Acres Road in Fayetteville.
The street names change midway through the block, which coincides with the property that changed hands.
The sellers were Raymond and Debra Cox of Fayetteville. The Coxes acquired the property for $643,000 in 1996 from a group of buyers led by Richard, George and Tom Keating.
Fayetteville’s Signature Bank assisted the purchase with a loan of $500,000.
Mexican Restaurateur
The owner of Mexican restaurants in northwest Arkansas paid $512,500 for a 3-acre lot on Zion Road, across the street from one of his restaurants.
Jose Rodriguez, through his La Hacienda of Northwest Arkansas Inc., bought the lot across from his La Hacienda restaurant. Rodriguez is also the owner San Miguel Mexican Grill & Bar.
The seller was the Emeritus Corp. of Milwaukee, which operates as Brookdale Senior Living.
Emeritus bought the property for slightly more than $1 million in 2008.
Armstrong Bank of Springdale assisted the purchase with a loan of $435,000.
Uptown Land
A 1-acre plot in the growing Uptown Fayetteville area sold for slightly more than $466,000.
Investment Drive Plaza III LLC, led by Jeffrey Kemp, was the buyer of the land at 3727 N. Investment Drive.
Kemp, the principal broker at Commercial Realty NWA in Fayetteville, has a long resume of developing properties for retailers, including 86 Dollar General stores.
The lot is located just off Steele Boulevard, which has seen several large-scale multipurpose developments in the past few years.
The seller was Steele Crossing Investment III LLC, led by Leonard Boen.
Boen is the principal broker for Commercial Realty’s office in Little Rock.
First State Bank in Russellville assisted the purchase with a loan of nearly $2 million.
The lot will be developed into a 8,450-SF office building that is expected to be finished in the fall of 2020.
Fayetteville Motor Exchange
A 3,200-SF garage in Fayetteville sold for $390,000.
Leeward LLC, led by Mitchel Anderson and Martin Johnson of Fayetteville, bought the property on South West Avenue. The seller was a partnership led by Michael and Susan Thomas, which owned 50% of the property; the other half was owned equally by Randy Behl, Ellen Savitt and David Behl.
United Bank in Springdale assisted the purchase with a loan of $395,000.
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