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Actual Offers: New Springdale residence complicated sells for .2M

A 157-unit multifamily property west of Interstate 49 in Springdale bought just lately for $33.2 million. The acquisition value equals roughly $212,000 per unit.

Kansas Metropolis, Mo.-based Block Actual Property purchased the 15.8-acre Hillcrest Village property on Cornell Drive, south of Arvest Ballpark. Growing Fairness LLC, led by Allissa Sims and Ben Harvey, was the vendor.

The Central Belief Financial institution in Shawnee, Kan., backed the cope with a $22.3 million mortgage. Cushman & Wakefield Sunbelt Multifamily Advisory Group, led by managing director Martin Bynum, was the itemizing agent. Metropolis Title & Closing of Fayetteville was the title agent.

Growing Fairness paid $2.1 million for the land in June 2021. Building was accomplished in February 2024, led by common contractor Brittenum Building of Fayetteville, and the property was 30% leased at closing.

CENTERTON COMMONS
Work is nearing completion on a constructing renovation that may anchor a $2.8 million industrial redevelopment of a former soccer facility in Centerton.

Centerton Commons is at 11301 Freeway 72 West, throughout the freeway from considered one of Benton County’s most upscale neighborhoods (Talamore/Oak Tree). Heimata Rutgers is the managing accomplice and developer. He led an funding group that paid $2.25 million for the 22-acre property in July 2023. It features a 12,800-square-foot constructing. The Arkansas Convention of the United Methodist Church was the vendor.

Joe and Lori O’Connor developed the unique 45-acre website 20 years in the past because the headquarters for a soccer membership referred to as Ingram Futbol Membership. It’s been closed for a number of years, and the O’Connors bought the property 5 years in the past to the church for $3.1 million.

“By most accounts, the soccer complicated has been closed for over 10 years,” Rutgers stated. “I believe the folks of Centerton shall be so excited to have this amenity of their yard.”

Rutgers stated the renovated constructing’s first tenant is Tradition Health, owned by Tia Wright. She signed a three-year lease for 3,700 sq. ft.

“We’re nonetheless in dialogue for the 8,500-square-foot gymnasium/warehouse, and we now have numerous curiosity now that the rework is sort of full,” Rutgers stated. “We hope to have the primary tenant open by the second or third week of Could and the second tenant by the tip of the second quarter this 12 months.”

Rogers architect John Mack and Cave Springs contractor Kyle Sargent led the constructing redevelopment. CEI in Bentonville was the undertaking engineer, and GA Engineers of Fayetteville, led by Greg Anderson, was the structural engineer.

BENTON COUNTY ACREAGE
An 80.8-acre lot in Gentry has a brand new proprietor after a $1.8 million sale. The acquisition value equals $0.51 per sq. foot.

Matthew Preston purchased the land on Gailey Hole Street. Joe and Charlotte Holland had been the sellers.

Doug Gibson with Crye-Leike Realtors in Rogers was the itemizing agent. The Limbird Crew with Limbird Actual Property Group in Rogers represented the client.

Centennial Financial institution of Conway backed the cope with a $1.1 million mortgage. Harbor Closing & Title in Rogers was the title agent.

LEASE ACTIVITY
Louisville, Ky.-based Superior Van & Mobility, which sells and companies wheelchair/scooter accessible vans, has signed a 10-year lease to relocate its Northwest Arkansas workplace and showroom.

The corporate will occupy 11,250 sq. ft of a 22,500-square-foot constructing at 1110 Mathias Drive in Springdale. That location will exchange Superior’s current workplace at 2887 N. School Ave. in Fayetteville.

Mathias Buying Facilities Inc., led by Sam Mathias, owns the constructing. Jenna Gill with CRD Actual Property & Growth in Rogers represented the tenant. Diane Scott with Mathias Properties represented the proprietor.

Actual Offers submissions: Submit tips on Northwest Arkansas lease exercise, building, transactions or upcoming tasks valued at $300,000 or extra to Paul Gatling at [email protected]. Please write ‘Actual Offers’ within the topic line.

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