Properties Go in Northwest Arkansas

Investment Foursome Plans for Warehouse Complex

Ben Israel of Fayetteville, J.B. Hunt of Goshen, and Phil Phillips and Tom Muccio, both of Springdale, purchased the former Emerson Electric building in Rogers and plan to build several warehouses on the 22-plus acre site.

The estimated $7 million-$10 million project will include turning the 217,000-SF Emerson building into an environmentally controlled warehouse.

The closing agent on the transaction was Bill McClard of Lindsey & Associates’ Rogers office.

Emerson, headquartered in St. Louis, closed its Rogers location in 2000.

Israel, owner of Dixie Development in Springdale, joined Phillips and Muccio in early June on a $500,000 purchase of 2.5 commercially zoned acres across from the new Washington Regional Medical Center location on Appleby Road.

Harrison French Starts Work on Eighth Street

Harrison French Architecture has started dirt work on a $2.5 million office and residential building at 206 S.W. Eighth St. in Bentonville. The 28,000-SF facility will be at the intersection of Eighth and S.W. “A” streets near HFA’s office and only two blocks from the home office of Wal-Mart Stores Inc.

The architecture firm is both the project’s designer and developer. Sellers Properties Inc. is the general contractor.

The three-story brick building will feature offices on the first and second floors and residential space on the third. Harrison French, owner and principal architect of the firm, said he intends to design apartments for the third floor that might appeal to out-of-town retail vendors who make frequent visits to Wal-Mart.

The building, scheduled to be completed by January, will have high-speed Internet access and other amenities. It sits on a 1.4-acre city lot.

Arkansas National Bank in Bentonville is handling the financing.

Wal-Mart Vendors Lease Lazenby Building

Bill Lazenby of Fayetteville in April got a $2.1 million loan from First Federal Bank of Arkansas in Fayetteville to build a commercial facility in Bentonville, with plans to add more buildings.

Lazenby built a 2,100-SF building at Commerce Center, adjacent to Ruby Tuesday restaurant. Much of the building is already leased, and all of the tenants are vendors of Wal-Mart Stores Inc.

Fort Smith Accounting Firm Purchases Rogers Office

West Elm LLC, comprising members from the accounting firm of Beall Barclay & Co. PLC, recently secured a $600,000 loan from BancorpSouth in Fort Smith to purchase its 6,500-SF Rogers office.

Beall Barclay & Co. has offices in Rogers and Fort Smith. Its Rogers office, at 2005 W. Elm St., has 11 employees.

Walton Arts Center Undergoes Facelift

The Walton Arts Center in Fayetteville on June 11 purchased a building permit valued at $543,551 for some minor construction and remodeling projects.

Among the projects taking place at the centerpiece of Dickson Street will be a renovation of the lobby and art gallery and an enlargement of the box office, which will now include four ticket windows.

There also will be a larger entryway into the garden lobby, which will shrink the McBride Studio by a few feet.

New carpet, wall covering, paint and lighting fixtures will be added to the Arts Center, and a maple panel finish will be added to the outside walls of the theater to better enhance the art displays.

The target date for completion is Sept. 20. The Arts Center will reopen Sept. 28 with a performance by the dance group Complexions.

The general contractor on the project is EWI Inc., which is headquartered in Russellville and has a Fayetteville office.

Trudo Builds More at Hidden Springs

Christopher Trudo of Christopher’s Custom Homes in Bentonville recently purchased two building permits valued at a combined $466,000 to build more homes at a north Bentonville subdivision.

The homes, located in phase IV of Hidden Springs subdivision, will be at 304 and 2012 N.W. DeSoto Drive. They will range from 3,130 to 3,346 SF.

Northeast Fayetteville Liquor Store Opening Soon

Danny Funderburg of Springdale will open his latest liquor store in northeast Fayetteville in July.

Funderburg will have a managing company operate 265 Liquor at lot 11 of Millennium Place on the corner of Millennium Drive and Arkansas Highway 265.

Funderburg is building the $450,000, 3,800-SF store, which will be the northernmost liquor store in Fayetteville.

Knight time at Yorktowne

John Knight of Fayetteville on June 11 purchased two building permits valued at a combined $336,400 to build two new homes at an east Fayetteville subdivision.

The homes will be at Yorktowne Square subdivision, just east of Summerhill Racquet Club and west of Old Missouri Road. Both homes are 2,900 SF. One will be at 1619 E. Winfield Drive and the other at 1609 E. Brighton Place.

Elsass Adds Housing All Across NWA

Kirk Elsass of Fayetteville is building town homes and houses throughout Benton and Washington counties.

Elsass recently purchased five-plus acres in Rogers for $150,00 to put in 40 upscale town homes.

Elsass also is building 15 homes at a southeast Springdale subdivision as well as another home in northeast Fayetteville.

The Rogers acreage, purchased from Catherine M. Lowell, is on the corner of Oak and 28th streets. Elsass went through the Rogers Planning Commission and had the property rezoned for 40 town homes.

The town homes will average about 1,300 SF, have both two and three bedrooms with two baths each, and will be fully enclosed with both wood privacy and wrought iron fencing. The landscaping will be maintained by a property owners association. They will sell from $95,000-$130,000 and will be marketed by Lindsey & Associates Inc.

The architect for the town homes will be Kim Fugitt.

Elsass and a silent partner are building 15 homes at Springdale’s Palisades subdivision, located across Arkansas Highway 265 from Basic Block Group.

The homes will be from 1,800-2,000 SF. Most are four bedrooms with two baths. The lots are to be sodded with sprinkler systems in place. They will sell for $175,000-$180,000.

There are 75 residential lots and one commercial lot in the addition.

Tom Hayes is the developer of Palisades.

Also, Elsass is building a 2,000-SF home on Raintree Drive in the Boxwood subdivision just off Old Wire Road in Fayetteville. The home will be for lease.