Large, Upscale Complex Planned for Bentonville

Kevin Harrison, project manager for BES LLC, said a hotel/convention center and three office buildings planned in Bentonville will be an $80 million-$100 million project.

Construction on the 8.8-acre site is expected to begin this fall on the Bentonville Plaza with a target date for completion within the next five years. It will be located directly across 8th Street from Wal-Mart’s Sam’s Club headquarters. Financing for the project will be from Elliot Spence and Michael Steinberg of New York.

The hotel and convention center will be 200,000 SF. Two of the office buildings will be eight stories and about 200,000 SF each. A third office building will be 12 stories and 500,000 SF. There will also be restaurants and retail spaces available at Bentonville Plaza.

There will also be 1 million SF of parking available.

Harrison said more than just Wal-Mart vendors will be at the office complex.

More Office Space Coming to Lowell

THF/Bentonville Associate Ventures Lowell Development on Jan. 30 secured a loan of $8.7 million from Bank of America to build two more office centers at a Lowell business park.

The buildings will be located at 509 and 515 Enterprise Dr. in the Northwest Arkansas Business Center near the JB Hunt World Headquarters and The Vineyards subdivision.

One of the buildings will be 47,940 SF, while the other will have 33,672 SF. The development group already has an existing building at the business park at 506 Enterprise Dr.

It is a three-story building with over 20,000 SF. Tenants already occupy that building.

Developers Ready to Begin Next Phases of Bridgeport

Creekwood Hills Development Inc. of Rogers on Feb. 5 got a loan of $1.9 million from Arkansas National Bank of Rogers for the next three phases of development for an upscale Fayetteville subdivision.

Creekwood Hills development is comprised of partners Perry Butcher, John Mack and Linda Doyle.

Bridgeport subdivision is located off Mt. Comfort Road in west Fayetteville. Phases I, II and III are already complete with 100 houses. The next three phases, which should have lots ready to be sold in early March, will also have 100 homes.

Bridgeport opened in 1995. Homes must be a minimum of 2,000 SF, but most are in the 3,000-4,000-SF range and are mostly priced from $300,000-$350,000. There is one house 6,600 SF that sold for $600,000.

Schwyhart, Haynes Purchase Acreage Near Pinnacle Point

Hart and Haynes LLC on Feb. 1 secured a $1.75 million mortgage to help with the purchase of between 15 and 20 acres in west Rogers.

Hart and Haynes LLC is comprised of Bill Schwyhart and Collins Haynes. The property was bought from Mae Thomas of the Thomas Estate near Pinnacle Point.

Schwyhart said there were some plans for the property, but refused to disclose plans.

Lake Hills Baptist to Get New Home

Lake Hills Baptist Church on Jan. 8 got a loan of $1 million from Community Bank to help it eventually move into its new home in northeast Fayetteville.

The church, led by pastor John Allen, has been holding its services each Sunday at Vandergriff Elementary School.

Lake Hills Baptist Church is a member of the Southern Baptist churches.

The new location will on North Crossover Road, just south of the Williams Dance and Gymnastics Center and north of Candlewood subdivision.

Valley View Condos to be Ready by Spring

The Kenneth Lazenby Trust on Jan. 2 got two loans totaling $800,000 from Farmers and Merchants Bank of Prairie Grove to build eight condominiums at the Valley View Golf Community near Farmington.

The two buildings will contain two and three-bedroom condos ranging from 1,200-1,600 SF, priced to sell between $120,000-$160,000.

Located on Rose Court, Bill Lazenby expects the condos to be completed by spring.

Lazenby is also building a warehouse complex on Old Wire Road in Springdale near AQ Chicken House. There will be 12 warehouses — 10,000 SF each — located on seven acres.

And Lazenby plans to begin construction soon on four 65,000-SF office buildings on Joyce Street in Fayetteville west of the new Post Office.

Walker Gets Busy at Brightwood

Tommy Walker Construction Co. of Rogers on Jan. 30 got eight loans totaling $758,400 from First Security Bank to build eight new homes in a Bentonville subdivision.

The homes are all located in Phase II of the Brightwood subdivision near Arkansas Highway 12. They will range from about $110,000 to $150,000 each and be a minimum of 1,600 SF.

Brightwood’s Phase II development will have 62 lots. Phase I had 50 lots. There will be a Phase III with 31 lots.

White Oak Station to Add Two in Area

Petromark Inc. of Harrison on Jan. 5 got a $310,000 loan from First Federal Bank of Arkansas in Fayetteville to build a White Oak Station convenient store in Bentonville at the corner of Moberly Lane and Central Avenue.

Petromark owns all White Oak Stations. Stephen Lair is the president and Steve Turner is the secretary of Petromark.

The next White Oak Station going up in Northwest Arkansas will be at the corner of Arkansas Highway 265 and Electric Avenue in south Springdale near the Basic Block Group offices. Construction is expected to begin on that store in April with a target date for opening in July. The station will sell Texaco gasoline.

Construction will begin on the Bentonville store as soon as the Springdale store is completed.

Springdale and Bentonville already have one White Oak Station. There are also two in Fayetteville and one each in Rogers, Siloam Springs and Hindsville.

River Valley to Build Trio of Lowell Homes

River Valley Homes and president Marty J. Haest Jr. recently obtained three building permits valued at a total of $309,897 for three new homes in a Lowell subdivision.

River Valley Homes recently moved its offices from Springdale to Lowell at 100 Parkwood St., Suite C.

The new homes are located at Cambridge Place subdivision. The one at 721 Colley St. is 2,189 S. The one at 809 Colley St. is 1,860 SF. And the one at 811 Colley St. is 1,747 SF.