A 6,505-SF commercial development in the Scottsdale Center area of Rogers has a new owner after a $2.92 million sale.
2 Combs Enterprises Inc. of Missouri, led by Kendall Combs, bought the Logan’s Roadhouse restaurant at 530 N. 47th St.
National Retail Properties LP, a real estate management company based in Orlando, Florida, was the seller.
City Title & Closing LLC of Fayetteville was the title agent.
Financing was provided by Guaranty Bank of Springfield, Missouri, with a $2.3 million mortgage.
Logan’s has 17 years left on its triple net lease term. Current annual rent is $219,375 ($33.72 per SF) and the building’s cap rate is 7.25 percent.
The single-story building was built in 2012 by Great South Construction Co. of Pelham, Ala.
National Retail Properties bought the... [ MORE ]