An office building across from Mercy Hospital Springfield and two properties near James River Freeway and Highway MM in Brookline each owned, in part, by the owners of Springfield-based contracting firm Eoff & Associates Inc., sold at a June 28 trustee's sale.
According to records available through the Greene County recorder’s office, the three foreclosed properties, representing original loan values of nearly $3.5 million, were sold on the Greene County Courthouse steps – with two picked up by Warren Davis Properties, and the National Avenue Office Park building going back to lender BancorpSouth.
BancorpSouth bought the 1911 S. National Ave. building out of foreclosure for more than $2.56 million. The original loan, issued to Derington-Eoff Properties LLC, was for $2.51 million, according to the recorder’s office. According to Missouri secretary of state records, DuWayne Eoff organized the company in 2001.
Tenants include Springfield Nephrology Associates Inc., Primerica, Spectrum Accounting, Ozarks Physical Therapy Clinic and Business Solutions LLC. Architect Bill Derington, who was a partner in Derington-Eoff but was bought out years ago, according to Eoff’s wife Jackie Eoff, also leases office space for his architecture firm in the building.
DuWayne and Jackie Eoff also owned property at 4710 Carnahan St., which held an original loan value of $1.44 million. At auction, Davis Properties bought the parcel in the James River Business Center for $920,000. Warren Davis said the property is home to the Volvo Rents building.
Recorder Cheryl Dawson said county records do not indicate how much was owed on the loans.
Hammit-Eoff Properties LLC was listed as the original borrower on a third foreclosed property. The original loan value was $985,000 for the property near Highway MM and James River Expressway in Brookline, within a mile of Carnahan-White Inc. fence company, owned by Stacey Hammit. Davis Properties bought the vacant property at the public auction for $224,016.
Jackie Eoff said the foreclosures were a result of money lost from the sale a couple of years ago of a failed equipment-rental business the Eoffs owned. She said they had worked with lender BancorpSouth to pay more than $2 million of the roughly $3 million that was owed on the properties, and she said she believed the bank was able to satisfy the rest of its liability through the trustee's sales.
“We had a loan that we basically couldn’t service, so we blanketed a couple of loans together to make sure the bank was covered,” Eoff said. “It wasn’t hostile at all. We sat down and looked at different scenarios, and this was what we felt was fairest to both sides.”
Calls to Hammit and a BancorpSouth spokesman were not returned by deadline.
Eoff & Associates is known for its work on a number of local projects, including Springfield First Community Bank on South Glenstone Avenue, Famous Dave's Legendary Pit Bar-B-Que on South Campbell Avenue and the 43,000-square-foot One Park Centre shopping center it developed at the corner of Kansas Expressway and West Sunshine Street.[[In-content Ad]]
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