
Sterling Bank of Poplar Bluff, Missouri, paid $1.9 million for the 3.2-acre lot at the northwest corner of Steele Boulevard and North Shiloh Drive in Fayetteville. (Parcel lines are approximate and shown for illustration purposes only.)
Remember when Sterling Bank of Poplar Bluff, Missouri, announced it was opening up a Fayetteville loan production office June 1?
Well, the bank apparently likes the area. It paid $1.9 million for a 3.2-acre lot in uptown Fayetteville.
The bank’s lending office is in a leased building at 1607 N. College Ave., which is in midtown Fayetteville across from the Evelyn Hills Shopping Center. The bank, which specializes in lending in the affordable housing market, has plans to open full-service locations in Fayetteville, Bentonville and Rogers.
The purchased property is at the northwest corner of Steele Boulevard and North Shiloh Drive, across the street from the Steele Crossing Shopping Mall anchored by Kohl’s and Target. The uptown area has experienced a multifamily housing construction boom in recent years with several mega complexes being built.
The seller of the property was MB007 Trust, led by trustees Marjorie Brooks and Stephen Brooks.