Real deals: Investors claim Centerton shopping center for $2.4 million

A 1.27-acre shopping center in Centerton changed hands recently in a $2.4 million deal.

Pahul’s Company LLC, whose members include Pahul Singh and Navneet Kaur, bought the 9,213-square-foot building at 1409 E. Centerton Blvd. The purchase price equates to $260.50 per square foot. Willow Crossing Development LLC, managed by Tim Graham II, was the seller.

Citizens Bank backed the deal with a 10-year loan of $1.59 million. City Title & Closing of Fayetteville was the title agent. Third Street Realty Services was the listing agency.

The one-story building was built in 2019 and is 50% occupied with a restaurant and retail outlet.

ISK KELLER
A Class A office building in Fayetteville recently sold for $1.6 million.

1200 North College Fayetteville LLC purchased the 6,859-square-foot building at the same address. The seller is Redbird Fayetteville Partners LLC, an affiliate of Oklahoma cannabis operator Redbird Bioscience. The purchase price equates to $233.27 per square foot

Signature Bank of Arkansas backed the deal with a five-year, $1.2 million loan. Mercury Title in Fayetteville was the title agent. Coldwell Banker Harris McHaney Faucette in Fayetteville was the listing agency.

Redbird paid $1.59 million for the one-story building in June 2020. Mark Zweig was the seller. Zweig paid $350,000 for the dilapidated building in 2013, then spent several years renovating the property into a modern office building.

Several people are listed as managing members of 1200 North College – Mike Dulley, Cameron LaGrone, Tina Johnson, Charis Barker, Lisa Darling and Jodi Hendricks. They are all leased by Keller Williams Market Pro Realty of Northwest Arkansas.

Duley said the company will move its existing Fayetteville office (3801 Johnson Mill Blvd.) to the College Avenue property this summer.

BENTONVILLE PROPERTIES
A 6-acre gated estate in north Bentonville has a new owner after selling for $1.4 million.

Natalie and Christopher Pease bought the five-bedroom residence on Mockingbird Lane from Thomas and Judith Terrell.

Waco Title Co. of Springdale was the titular agent. USA Mortgage backed the deal with a 30-year loan of $960,000.

The home was built in 2002 and includes 6,203 square feet. The property changed hands in July 2016 for $850,000.

APARTMENT IN THE CENTER
A new apartment building in downtown Bentonville recently sold for $1.16 million.

Bentonville STR I LLC, an Austin, Texas entity registered to Bethany McCullough, bought the two-story home on Northwest Fourth Street. Huffman Residential 404 NW 4th LLC, managed by Brandon Huffman, was the seller.

City Title & Closing of Fayetteville was the title agent. Dee Rodes with Sotheby’s International Realty Portfolio in Rogers represented the buyer and seller.

The residence includes 3,357 square feet and the purchase price is $347.30 per square foot. The property includes a detached garage with a 576 square foot upstairs suite (included in total square footage) that is considered a fifth bedroom.

Huffman paid $267,000 for the property in August 2020, then demolished the previous residence.

SHADOW VALLEY SALE
A 4,655-square-foot residence in Phase V of Rogers’ gated Shadow Valley neighborhood recently sold for $1 million. The purchase price equates to $214.82 per square foot.

Eric and Tara Howerton bought the four-bedroom house on West Valley View Road. Chris and Marci Martinovich were the vendors.

City Title & Closing of Fayetteville was the title agent. Eileen Isola with Berkshire Hathaway Homeservices Solutions in Bentonville represented the seller. Ellie Combs with Better Homes and Gardens Real Estate Journey in Bentonville represented the buyer.

The home was built in 2006. Martinovich paid $615,000 for the 0.35-acre property in July 2018. Darin and Sandra Robbins were the sellers. Robbins paid $528,500 for the residence in April 2014. Mark and Anna Mizell were the sellers.

Mizell paid Chris and Karen Benson $450,000 for the one-story house in November 2009. Benson bought the house in July 2006 for $645,000. PB Enterprises Inc. was the salesman.

Sending real deals: Send advice on leasing, construction, transactions or upcoming projects of $300,000 or more to Paul Gatling at [email protected]. Please write “Real Deals” in the subject line.

Leave a Comment

Your email address will not be published.