Real Deals: Investors Claim Centerton Mall for $2.4M

A 1.27 acre strip mall in Centerton recently changed hands in a $2.4 million deal.

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

Batesville-chartered 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 by a restaurant and retail business.

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

1200 North College Fayetteville LLC purchased the 6,859 square foot building at the same address. Redbird Fayetteville Partners LLC, a subsidiary of Oklahoma cannabis operator Redbird Bioscience, was the seller. The purchase price is $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 rating 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 a few years renovating the property into a modern office building.

Several people are listed as leading members of 1200 North College – Mike Duley, Cameron LaGrone, Tina Johnson, Charis Barker, Lisa Darling and Jody Hendrix. They are all employed by Keller Williams Market Pro Realty in northwest Arkansas.

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

A 6-acre gated estate in North Bentonville has a new owner after a $1.4 million sale.

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

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

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

New residential construction in downtown Bentonville recently sold for $1.16 million.

Bentonville STR I LLC, an Austin, Texas entity registered with Bethany McCullough, purchased the two-story home located 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 of Portfolio Sotheby’s International Realty at Rogers represented the buyer and seller.

The residence comprises 3,357 square feet and the purchase price is $347.30 per square foot. The property includes a detached garage with an upstairs apartment suite of 576 square feet (included in the total square footage), which counts as a fifth bedroom.

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

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

Eric and Tara Howerton bought the four-bedroom house on West Valley View Road. Chris and Marcy Martinovic were the sellers.

City Title & Closing of Fayetteville was the title agent. Eileen Isola of 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. Martinovic paid $615,000 for the 0.35 acre property in July 2018. Darrin and Sandra Robbins were the sellers. Robbins paid $528,500 for the residence in April 2014. Mark and Ana Mizelle were the sellers.

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

Real Bid Submissions: Submit advice on rental activity, construction, transactions or upcoming projects worth $300,000 or more to Paul Gatling at [email protected]. Please write “Real Deals” in the subject line.

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