A 15,820-square-foot shopping center west of Interstate 49 in Fayetteville has a new owner after a transaction worth $5.75 million. The purchase price equals $363 per square foot.
Wedington Fayetteville AR LLC, managed by Curtis A. Jared, bought Shoppes at Wedington on 2.24 acres at 3484 W. Wedington Drive. Jared is president and CEO of Springfield, Mo.-based commercial real estate firm Jared Commercial & Management. The seller was Shoppes At Wedington LLC, managed by Brian Shaw.
Springfield-based Guaranty Bank provided a 10-year loan of $3.45 million. City Title & Closing LLC in Fayetteville was the title agent.
Built in 2010, the single-story shopping center includes multiple tenants such as CJ’s Butcher Boy Burgers and Domino’s. Shoppes At Wedington paid $976,000 for the land in June 2008.
Siloam Springs Storage
A 121,900-square-foot self-storage facility in Siloam Springs recently changed hands for $5.74 million. The purchase price equals $47 per square foot.
Fultonbsh Ssar I LLC, managed by Richard Schontz, bought the facility on 8.71 acres at 155 N. Lincoln St. Schontz is founder and CEO of Philadelphia-based real estate investment firm City Line Capital. The firm’s self-storage portfolio comprises 273 assets in 29 U.S. states, totaling over 16.3 million net rentable square feet.
The seller was NSA Property Holdings LLC, whose authorized person is William S. Cowan Jr. Cowan is executive vice president and chief strategy officer of Greenwood Village, Colo.-based real estate investment trust National Storage Affiliates Trust.
New York-based Barclays Capital Real Estate Inc. provided a five-year loan of $8.65 million.
Built between 2005 and 2022, the facility comprises 17 single-story storage buildings and a two-story building that includes office, apartment, and storage space. NSA Property Holdings paid $9.3 million for the property in June 2022. The sellers were Alfred E. Zaccanti Jr., Karen M. Zaccanti, Olen Bridges, and Kari Bridges.
Bentonville Residential
Nearly 13,000 square feet in multifamily and single-family properties east of the former Walmart Home Office and south of Gilmore Park in Bentonville recently sold for $4.8 million. The purchase price equals $380 per square foot.
Blue Crane affiliate 302 NE B Street LLC bought the properties on 1.67 acres in the 400 blocks of Southwest Sixth and Southwest Seventh streets. Bentonville-based Blue Crane is Runway Group’s real estate acquisition and development arm. Runway Group is a Bentonville-based diversified holding company, led by Tom Walton and Steuart Walton, grandsons of Walmart founders Sam and Helen Walton.
The sellers were Brian L. Larson and Patricia K. Larson of Surprise, Ariz. City Title & Closing LLC in Fayetteville was the title agent.
The 12,623 square feet in residential properties comprise three single-story multifamily buildings, a two-story multifamily building and a single-family home. The Larson family acquired the properties for a combined $508,000 in separate transactions from April 1986 to January 2021.
Bentonville Multifamily
More than 14,000 square feet in multifamily properties south of Bentonville Public Library recently sold for $4.45 million. The purchase price equals $317 per square foot.
Yellow Brick Road LLC, managed by Harry Don Marley Jr. of Rogers, bought the properties on 1.69 acres in the 500 block of Southeast A Street and in the 200 block of Southeast Sixth Street. The seller was The Robert H. Been Trust, whose trustees are Shara B. Turk and Shelly B. Summers. Waco Title Co. in Springdale was the title agent.
Built from 1996 to 1999, the 14,005 square feet in multifamily properties includes five 1,911-square-foot, single-story duplexes and two 2,225-square-foot, single-story apartment buildings. Each apartment building has four units.
The Been Trust paid $722,000 for the properties in January 2000. The seller was A.R.C. Construction & Development Inc.
Editor’s note: Information in this report was gathered with assistance from the office of Benton County Assessor Roderick Grieve.