A six-building industrial portfolio in Rogers recently changed hands for $8.2 million. The purchase price equals $75 per square foot.
IAI SEP 13th Street LLC, whose authorized agent is Grant Reaves, bought 549-555 N. 13th St. Reaves is co-founder of Stoic Equity Partners, a Daphne, Ala.-based commercial real estate investment firm.
The sellers were Vineyards On Garland LLC and Club at West Sycamore LLC, whose trustee for the managing member is Greg House. Stuart, Fla.-based Seacoast National Bank provided a four-year loan of $5.41 million.
The more than 7-acre property includes six single-story buildings comprising 108,155 square feet. They range from 9,520 to 26,893 square feet. Limited liability companies controlled by House paid $7.6 million for the property in June 2022. Hews Ark LLC, managed by Edward Hurley, was the seller.
Lowell Industrial
A 58,698-square-foot industrial building in Lowell recently sold for $7.25 million. The purchase price equals $123 per square foot.
San Francisco-based Airport Coast LLC, managed by Blue Bird Developments LLC, bought 200 Grant Place. The seller was Flex Box Partners LLC, managed by T.J. Lefler.
Built in 2022, the single-story building is on 2.84 acres. Flex Box paid $5.45 million for the property in May 2023. The seller was GP Tango LLC.
Rogers Residential
A 26,132-square-foot senior living facility in the Pinnace Hills area of Rogers has a new owner after a recent transaction worth $7.16 million. The purchase price equals $274 per square foot.
Woodmere, N.Y.-based Rogers Grand Propco LLC, managed by Joshua Jacobs, bought the Grand Brook Memory Care building on 4.15 acres at 5125 W. Pleasant Grove Road.
The seller was Fishers, Ind.-based IVQ Rogers LP, whose chief financial officer is Quinn Haselhorst. New York-based Deutsche Bank AG provided a three-year loan of $66.4 million, with Columbia, Md.-based Computershare Trust Co. as collateral agent.
The single-story building was constructed five years ago. IVQ paid $8.15 million for the property in November 2020. The seller was Rogers Memory Care LLC.
Springdale Land
More than 26 acres of pasture off West Apple Blossom Avenue in Springdale recently sold for $4.5 million. The purchase price equals $170,469 per acre.
I49 Industrial LLC, managed by Ivan E. Crossland Jr. and Mattie Crossland, bought 26.4 acres at 5850 Chief Truman Brewer St., south of the Lowell headquarters of J.B. Hunt Transport Services Inc. I49 Industrial, which has acquired multiple area properties, is led by Crossland Realty Group, a privately owned real estate investment firm based in Kansas and a division of Crossland Construction.
The sellers were Macrich LLC, managed by Stephen W. Brooks, and MB007 Trust, whose guardian is Christopher Bedwell. Fayetteville-chartered Arvest Bank provided a one-year loan of $3.58 million.
Bentonville Property
A more than 11-acre commercial property along Arkansas Highway 12 in Bentonville sold recently for $3.7 million. The purchase price equals $333,935 per acre.
Divided Sky Investments LLC, a Delaware limited liability company, bought 11.08 acres along Southwest Regional Airport Boulevard (Highway 12).
The sellers were DOABA Investment LLC, managed by Jasminder Singh Thandi, and Iqbal Singh Makkar and Anju Makkar.
Fayetteville Apartments
A 54-unit apartment complex in Fayetteville recently sold for $3.3 million. The purchase price equals $61,111 per unit.
JK Affordable Living LLC, led by Jayesh Ramnani and his wife Krishna Verma of Centerton, bought Village at Scull Creek on 5.6 acres at 2619 N. Quality Lane. Ramnani and Verma own multiple area multifamily developments, but this is their venture into affordable housing. Verma is the principal broker of Verma and Associates, which represented the buyer and will serve as the property manager.
Alma-based Scull Creek Limited Partnership, led by Elise Alexander, was the seller. Muskogee, Okla.-based Armstrong Bank provided a 20-year loan of $2.48 million.
Built in 2007, the 70,000-square-foot development includes seven three-story buildings. The plan is to remodel the development after one year, and Verma said the goal is to improve residents’ quality of life. Scull Creek paid $125,000 for the land in November 2005.
Editor’s note: Information in this report was gathered with assistance from the office of Benton County Assessor Roderick Grieve.