Hopper Purchases Remaining Pinnacle Land

Tom Hopper of Tallchamps LLC on Sept. 14 got three loans totaling $6.72 million from Regions Bank of Rogers, and First Security Bank of Rogers to purchase the remaining lots and acreage not sold at Northwest Arkansas’ most exclusive subdivision.

Pinnacle Country Club had about 150 acres that Hopper exercised his option to purchase. The land is on both the north and south ends of the 540-acre development. Hopper bought into the real estate side of Pinnacle in 1993. There are currently more than 300 homes at Pinnacle.

The golf course and country club side of the development is owned by several groups, including Red Hudson. David Slone, owner of Superior Automotive, is looking into purchasing the club.

Springdale Apartments to Have Electric Appeal

Gary Combs of Basic Construction Co. of Springdale on Aug. 30 got a loan of $4.4 million from Arkansas National Bank to build a new Springdale apartment complex.

The first phase of the Electric Avenue Apartments will have 10 buildings with 12 units each. One and two-bedroom units will be available.

Electric Avenue is off Arkansas Highway 265 in south Springdale and is home to Basic Block Group and Basic Construction Co. Also, a new White Oak Station convenience store will open on the corner of Electric Avenue and Highway 265 in early December.

Cardinal Group Gets Copeland’s Financing

Cardinal Enterprises LLC on Sept. 17 secured a loan of $2.63 million from Regions Bank to build a new Rogers restaurant.

The 8,000-SF Copeland’s Famous New Orleans Restaurant and Bar will be on 46th Street in Scottsdale Center. It is expected to open early in 2002.

The Rogers restaurant and bar will seat about 300 people. A New Orleans-style Spanish courtyard will seat another 50.

Cardinal Enterprises consists of a group of Arkansas investors including Joe and Jane Lisuzzo of Bella Vista, Joe and Jackie Muha of Bella Vista, John Bliss of Fayetteville and Beau Beard of McGehee.

Al Copeland founded Copeland’s Restaurant in New Orleans in 1983 and began franchising it in late 1993.

Copeland’s has been voted “Best Cajun Restaurant” for the past nine years in a row by readers of New Orleans Magazine.

Bentonville Commercial Park Fills Tenants in First Building

Moberly Professional Park of Bentonville has filled its first building and is now concentrating on the second facility.

Building two, which was financed through Great Southern Bank of Springfield, Mo., for about $1.73 million, is 16,500 SF. The buildings are being leased from $17-$18 per SF.

Moberly Professional Park is owned by Mike Beard and Doy Gillihan.

Building one at the park is 21,000 SF and was financed for about $1.8 million. The land and park’s infrastructure was purchased for $1.2 million.

The first building has Computer Associates, Hewlett-Packard, IBM and Avaya as tenants.

The total park eventually will have seven buildings with a combined 125,000 SF on the nine-acre site. It is adjacent to the David Glass Technology Center, site of the former Alumax facility. The Arkansas-Missouri Railroad serves as the boundary between.

Woodworks to Get Busy at Tunbridge Development

Woodworks Plus Inc. of Farmington recently purchased 11 building permits at a total value of $1.7 million to build more Bentonville homes.

Tunbridge subdivision is in west Bentonville. It was originally developed by Jim Lindsey and later purchased by L&E Equity Investments, led by John David Lindsey and Kirk Elsass.

Houses at Tunbridge will be about 2,000 SF each and will be priced between $140,000 and $150,000.

Contractors see Kristyl in Bentonville Subdivision

Bill Lazenby of Lazenby Construction Co. in Fayetteville on Nov. 25 got a loan of $1.09 million from Arkansas National Bank to build several more homes at a Bentonville subdivision.

Kristyl Heights subdivision is in southwest Bentonville. Homes there will range from 1,550-1,700 SF. The subdivision was developed by Sierra LLC, led by Mark Marquess, Rick McCullough and Dan Dykema.

Also, Tim Thatcher of United Arkansas General Construction Co. on Oct. 17 got six loans totaling $408,000 from Arkansas National Bank to build homes at Kristyl Heights.

Jensen & Jensen got two loans totaling $138,000 from Arkansas National Bank to build two homes at Kristyl Heights.

Tallgrass Completing Department Store

Tallgrass Development LLC recently purchased a building permit valued at $961,000 to finish out the future home of a department store in Rogers.

Belk Inc. of Charlotte, N.C., will open its first Northwest Arkansas store at 503 N. 46th St. in March in Scottsdale Center.

Tallgrass is composed of Tom Hopper, Lemuel Tull and Jack McHaney.

The 73,000-SF store will have national brands such as Estee Lauder, Liz Claiborne, Clinique and Tommy Hilfiger. It will carry clothing, cosmetics and other home products.

The privately owned, 113-year-old company is based in Charlotte, N.C. It has two other stores in the state in Paragould and Stuttgart.

James Mathias Building Springdale Apartments

James Mathias on Oct. 3 purchased a building permit valued at $422,105 to build a new apartment complex in Springdale.

Mathias is adding a 14-unit complex at 305 Berry St., which is just north of Emma Avenue and just west of the Jones Center for Families. The units will be about 700 SF each.

Signature Square Also in Springdale

Ben Israel, owner of Dixie Development in Springdale, is developing Signature Square phase I and II in different Northwest Arkansas cities.

Signature Square phase I is on five acres just north of Paradise Valley Athletic Club on Joyce Boulevard. There will be four buildings there totaling about 40,000 SF. Signature Square phase II will be in Springdale at the corner of Arkansas Highway 265 and U.S. Highway 412.

Dixie Construction Co. is the general contractor on the projects.

The Fayetteville project was financed by Community Bank of North Arkansas, while the Springdale project was financed for $3.08 million by First State Bank of Lonoke.