Dallas Equity Firm Buys Storage Centers (NWA Real Deals) | Arkansas Business News

Dallas Equity Firm Buys Storage Centers (NWA Real Deals) | Arkansas Business News

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A Dallas real estate investor paid more than $22 million for three self-storage complexes in Northwest Arkansas.

Dallas Beck bought two in Fayetteville and one in Springdale through subsidiaries. He directs WynCap Management LLC, which operates the purchasing subsidiaries, and founded Kanesville Capital, a private equity firm.

Beck paid $8.45 million for Ozark Self Storage on North Maestri Road in Springdale and $7.4 million for the 474-unit Double Springs Storage complex on Double Springs Road in west Fayetteville. He paid $6.2 million for Elkin’s 122-unit mini-storage on North Center Street in east Fayetteville. All three are also U-Haul rental locations.

Dallas-based Grant Street Funding provided a $13.7 million loan.

All three were sold by Fayetteville-based Gregson LLC headed by Nathanael Magre. John Ed Gregson Sr. and John Ed Gregson Jr. purchased them for about $1 million between 2008 and 2018.

Springdale Starbucks

A newly opened Starbucks coffee location in Springdale has sold for $2.6 million.

Sparmere Associates LLC and Property Resources Corp. East LLC of Palm Beach, Florida purchased the North 48th Street location. Sparmere acquired more than 90% of the property; both LLCs are subsidiaries of Palm Beach-based Property Resources & Co., managed by Meredith Bagby. The Starbucks opened in October.

Seller was ETO LLC of Jonesboro, led by Greg Haag and Joshua Brown. Haag and Brown lead Haag Brown Commercial Real Estate Development, a company known for developing Starbucks in the state.

Haag Brown acquired the property in a $2.3 million purchase in March 2022. It is adjacent to Mercy Hospital in Springdale at the southeast corner of 48th Street and Elm Springs Road.

The two remaining tracts of this purchase are under development.

Blue Cliff College

A Texarkana investor paid $2.1 million for Blue Cliff College’s former home in Fayetteville.

Curt Green, through his GX 16 Fayetteville College LLC, purchased the 9101 SF facility on North College Avenue. Green is also the President of the I-49 International Coalition, which is working to complete the highway between Fort Smith and Texarkana.

The massage therapy school closed in favor of an online platform at the beginning of the COVID-19 pandemic.

Red River Employees Federal Credit Union made a $973,800 loan.

The seller was Thevenot-Welborn Properties of Nashville, Tennessee, managed by Peter Thevenot. Thevenot-Welborn purchased the property in 1984 for $182,000.

Thompson Plaza

A New Jersey investor paid over $1 million for a Springdale mall.

KBR Springdale Properties LLC of Edison, New Jersey, directed by Bapuji Kothapalli, purchased the 10,116-SF Thompson Plaza at South Thompson Street, inclusive. Included in the purchase is a 4,766 SF commercial building. First Western Bank in Rogers made an $816,000 loan.

The sellers were Taldo Properties LLC, managed by Philip Taldo, and TGC Rentals LLC, managed by Gary Griffin. Taldo and Griffin purchased the property in 1999 for $470,000.

Springdale warehouses

A series of warehouse complexes in Springdale sold for $2.8 million.

The buyers were Mside Fay LLC, led by TJ Lefler, and Ribble Investment Co. LLC, led by Alan Ribble. Lefler and Ribble will each own 50% of the properties. The nine warehouses total more than 43,700 SF on more than 3.3 acres on Shaver Street.

Citizens Bank of Batesville provided a $2.7 million loan.

The seller was Chris Elder through his Celder LLC in Fayetteville. Elder acquired the property in 2018.

Fayetteville Offices

Two adjacent office buildings on North College Avenue sold for $850,000.

The buyer was Boston Mountain Holdings LLC, led by Christopher Hamaker. Hamaker is a real estate investor and runs Boston Mountain Real Estate. Signature Bank made a $952,000 loan.

The first building is 2,581 SF and houses Lazenby Real Estate; the second costs 4,704 SF and is empty.

Seller was William Lazenby through his Irene 2 LLC. He purchased the land in 1969 for $24,000.

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