A three-building strip center totaling 23,395 SF recently sold for $5.2 million, a purchase price of $222.26 per SF.
Monroe Arena LLC of Fayetteville, which lists Steve Fowler as the registered agent, bought the Arena Village development at 1129-1241 W. Martin Luther King Blvd., across from the University of Arkansas and Fayetteville High School.
Arena Village LLC, led by Sean Trumbo, was the seller.
Waco Title Co. of Springdale was the title agent.
The three buildings have a combined occupancy of approximately 78 percent, with tenants who include Inta Juice, Ginger Rice & Noodle Bar and Subway.
The 4.71-acre site also includes a one-acre ground lease pad that can be developed into a build-to-suit retail building from 3,500 to 4,800 SF.
Restaurant Out, Retail In
A former restaurant... [ MORE ]