Deer Lake Golf Course sells for $3.5M

Deer Lake Golf Course, its 80-acre subdivision and an adjacent 107 acres of undeveloped land sold March 26 to Tulsa, Okla.-based Deer Lake Partners LLC, according to buyer’s representative Mike Mellinger of Mellinger Commercial LLC.

Deer Lake Properties LLC and Deer Lake Golf Course LLC sold the development for $3.5 million, said Mike Sitton, a Tulsa, Okla.-based partner of Deer Lake Partners and co-founder of Joplin’s Sitton Motor Lines, which closed late last year.
The property was listed by R.B. Murray Co. for $3.75 million, said seller’s agent David Murray.

Under the management of Tulsa developer and P&H Properties owner Robert Phillips, Deer Lake Partners is seeking Greene County Planning Board approval to develop an industrial park on the 107 acres. A rezoning request could be voted on at the board’s next meeting July 28.

Noel Spering, operating general manager of the course, said that golf business would continue as usual.

“We are continuing to run the golf course as a business,” Spering said. “We lease it back from (Deer Lake Partners).”

Meanwhile, Deer Lake South, the development’s subdivision comprising 42 finished residential lots and a 3.66-acre tract for a total of 83 acres south of Interstate 44, is already in the hands of another party. After the buy, Mellinger said Deer Lake Partners allocated the land to Silverhorn Holdings LLC, which sold it June 14 to Nixa-based Pegasus Investments LLC, owned by Rick Gregg. Attempts to contact Gregg were unsuccessful.

The course’s proximity to Springfield-Branson National Airport and the Interstate 44-Highway 266 interchange were two reasons for the sale, according to Spering and Murray. The development spans 255 acres north of Interstate 44.

“It’s unusual to have that much property assembled so close to a major interchange,” Murray said.

Read more about the new owner's industrial park plans in the June 21 issue of Springfield Business Journal.[[In-content Ad]]