Real business: Broadway Contracting begins $12.3 million renovation for Simmons

The City of Siloam Springs recently issued a building permit to Broadway Contracting of Siloam Springs worth $12.35 million.

The company is using the permit for an improvement project for Simmons Animal Nutrition at 1113 E. Ashley St.

The project will include 30,000 square feet of cold storage space and other upgrades to existing warehouse space, receiving docks and employee parking areas. Completion of the project is scheduled for the end of the year.

Simmons Animal Nutrition is a division of Simmons Foods Inc. and its subsidiaries.

BENTONVILLE LAND
Bentonville land along northbound Interstate 49 recently changed hands for $8 million.

Evans Investment Group LLC, a Delaware registered entity, has purchased 37.74 acres at 209 Water Tower Road, south of East Battlefield Boulevard. The purchase price is $4.87 per square foot. Paula Anderson, Margaret Jane Wilber, Cybill Hidee Duncan and Heather Finley were the vendors.

City Title & Closing of Fayetteville was the title agent.

The property was last sold in 1984 for $39,900. It includes a single-storey residence built in 1982 with 2,516 square feet.

MEDICAL OFFICE
A 12,244 square foot medical office building in Bentonville’s Mid-Cities Crossing development recently sold for $7.75 million. The purchase price is $632.96 per square foot.

California-based Hess-Junction Plaza LLC, headed by Stanley Hess, purchased the one-story building located at the intersection of Southeast 30th Street and the cities Northeast Parkway. PCBA Realty LLC was the seller.

Symetra Life Insurance Co. of Iowa backed the deal with a $3.05 million, 30-year loan. Waco Title Co. of Springdale was the title agent.

Little Rock-based Pain Centers America (PTCOA) owns PCBA and remains the building’s tenant with a long-term lease. The company purchased the land (1.74 acres) in August 2019 for $583,000.

FORT SMITH MULTI-FAMILY
A 102-unit multifamily contract in Fort Smith tipped the scales at $4.79 million. The purchase price is $47,000 per unit.

FSA Windsor LLC, based in Tulsa, Okla., purchased the units that include Sunset Village and Windsor Apartments at 1100 S. 11th St. The combined square footage is 19,654.

Brian Wagers, a partner at Texas Elevate Commercial Investment Group, was the seller.

The Chickasaw Community Bank in Oklahoma City provided the financing. City Title & Closing in Fayetteville was the title agent. Joshua Harmon of Harmon Real Estate Co. in Fort Smith brokered the deal.

The two-story property is 99% occupied.

MEDICAL PRACTICE II
A freestanding medical office building in Springdale sold for $1.75 million.

KKCK Defense LLC, led by Kenneth Smith, purchased the 9,074 square foot building at 1022 Jones Road west of Interstate 49. The purchase price is $193.40 per square foot. Gary and Michelle Tollett were the sales people.

Advantage Title in Fayetteville was the title agent. Weichert, Realtors-The Griffin Co. in Springdale was the listing agent.

The one-story office was built in 2007 and is leased to Sageway Behavioral Health.

SPRINGDALE LAND
A 12.4-acre land sale in Springdale tipped the scales at $1.4 million. The purchase price is $2.59 per square foot.

The Springdale School District purchased the property at 2905 W. Huntsville Ave. Lots 102 Holdings, led by Melissa Sims, was the seller.

Waco Title Co. was the title agent.

The property is located west of Central Junior High School and will be developed as part of the campus expansion project.

TONTITOWN LAND
Two commercial lots in the Venezia Piazza addition to Tontitown totaling 2.18 acres recently sold for $950,000. The purchase price is $10 per square foot.

Kee LLC, led by Kirk Elsass, purchased the property on Arkansas Highway 112, just south of the intersection of U.S. Highway 412. 112 Partners LLC/Lots 102 Holdings LLC, led by Melissa Sims, was the seller .

Zack Kifer and Payne Phillips with Moses Tucker Partners in Bentonville represented the seller.

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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