Leslie Doggett Industries of Houston bought Truck Centers of Arkansas this month, paying $103 million for the three-dealership franchise.
TCA, a finalist for Arkansas Business of the Year in 2015, has locations in North Little Rock, Springdale and Van Buren. Doggett Industries said the locations would operate as Doggett Freightliner of Arkansas.
Truck Centers was formed by Rick and Larry Vassar and Todd Havens when the group bought the three Freightliner truck dealerships in 2007. Havens was named CEO and Larry Vassar COO; a year ago the group bought the state’s Western Star truck franchise.
Doggett’s purchase gives the company distribution rights to Freightliner and Western Star trucks and parts for most of the state. Freightliner is the American brand of Daimler Benz Trucks, which Doggett said has 42 percent of the North American market share.
Candlelight Apartments
The Candlelight Apartments in Fayetteville sold for nearly $4 million to a Fayetteville investor.
Alpha Farms LLC, led by Maynard Neas Anderson, bought the complex, which is located on the 1700 block of North Gregg Avenue. It has 56 residential units comprising more than 50,000 SF.
The seller was 12M Multi-Family LLC, which is led by Raymond Merrill of Sallisaw, Oklahoma. Merrill owns Merrill Bonding Co. and has been an active seller and buyer in northwest Arkansas properties in recent years.
Merrill bought the complex for $3 million in 2015.
First State Bank in Russellville assisted the acquisition with a loan of $2.7 million.
Freddy, Freddy
The franchise owner for Freddy’s Frozen Custard & Steakburgers sold two of his locations in northwest Arkansas in sale-leaseback agreements.
3Pointe Restaurant Group, which is led by Jamie Rheem, sold Freddy’s on Salem Road in Fayetteville and on West Sunset Avenue in Springdale. Rheem received slightly more than $2 million for the Fayetteville location and more than $2.2 million for the one in Springdale.
Rheem runs 3PRG and its subsidiaries out of Branson, Missouri, but is from Wichita, Kansas, where Freddy’s was started.
The Fayetteville franchise was bought by 2002 White Family Trust of El Dorado Hills, California, which is led by Lynda White. Bear State Bank in Little Rock assisted the acquisition with a loan of slightly more than $1.1 million.
The Springdale franchise was bought by Kevin and Traci Fuksa of Hennessey, Oklahoma. The Fuksas bought a quarter interest in the property as individuals and the remaining three quarters through their subsidiary, Because I Love Horses LLC.
Simmons Bank in Fayetteville assisted the Springdale acquisition with a loan of slightly less than $1.15 million.
Baby Back
A Chili’s restaurant in Fayetteville was bought by its parent company.
Brinker International of Dallas, which owns Chili’s nationwide, bought the restaurant on East Millsap Road for more than $1.8 million in a tenant buyback. The seller and landlord was Vereit Inc., a real estate investment group in Phoenix.
The restaurant is a 5,364-SF building on a 2.2-acre lot.
Mobile Home Park
A Fayetteville mobile home park changed hands for more than $1.6 million.
Stanley Holdings Group LLC, which is led by Michael David Hyatt and Kris Allen Hodges of Sulphur, Louisiana, bought the Country Lane Mobile Home Park at 201 E. Appleby Road. It has 53 units and covers 6 acres.
The seller was Commercial Computer Services Inc., which is led by Gene Housley of Rogers. Housley acquired the property for $750,000 in 2002.
Stanley Holdings and Hyatt and Hodges agreed to a $1.5 million mortgage with CCS and Housley.
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