Lane Hotel, 121 W. Poplar St. in Rogers
A Walton-affiliated company has closed on a second significant real estate deal this week in Benton County.
KLS Leasing LLC has paid $1.6 million to buy the 42,000-SF Lane Hotel at the corner of East Poplar Street and South 2nd Street in downtown Rogers.
The deal closed June 30, according to a deed filed with the Benton County Circuit Clerk’s office.
Ninety Second LP of North Bergen, New Jersey, managed by Raymond Eshagoff, was the previous owner, acquiring the property in April 2005 for $725,000.
KLS officials were unavailable for comment. The company is registered in Delaware and is using the same Bentonville mailing address — P.O. Box 1860 — as that of Walton Enterprises LLC, the holding company owned by heirs of Wal-Mart Stores Inc. founder Sam Walton.
A similar entity,... [ MORE ]