Lindsey Green Adds to Bentonville Project (Real Deals)

Wohlford & Co. of Bentonville recently bought a building permit valued at $2 million to construct a 25,200-SF office building at 1803 Phyllis St. in the Lakeside Center II subdivision in Bentonville. Lindsey-Green Commercial Properties Inc. is the managing partner of the Lakeside Center II LLC development.

The owners of Lindsey-Green are Jim Lindsey, Roy Stanley and Stan Green. Two buildings are completed and occupied. This is the third building under construction out of four total that are planned at the site.

Kim Fugitt of Fugitt & Associates of Fayetteville is the architect, and James L. Burke of Fayetteville is the structural engineer. The building is expected to be complete in about eight months.

Although the leasing price per SF hasn’t been determined for the new structure, the existing buildings lease from $17.50 per SF for basic to $18.59 per SF for full service. Office sizes start from 1,500 SF. Metropolitan National Bank of Little Rock financed the two-phase project. Lakeside Center II LLC is currently under a ground lease agreement with the Lindsey Family Partnership.

Winberry Wins Sage Homes

Winberry Builders Inc. of Lowell recently bought nine building permits valued at a combined $1.9 million in the 86-lot Sage Meadows subdivision in Fayetteville. Winberry, a subsidiary of Next Generation Residential LLC, is the general contractor. Homes will range from 1,500-2,200 SF and will sell from $96,000. Next Generation plans to build out the entire subdivision and then sell the homes.

Next Generation Residential LLC of Rogers — of which Ben Israel, J.B.. Hunt, Phil Phillips and Tom Muccio are principals — is the developer. Trey Trumbo and Mike Muccio are managing partners in the development.

Next Generation bought the Sage Meadows land from Dunnerstock Development Inc., of which Mark Foster is president, for $3 million in July. Next Generation secured a $1.9 million loan for Sage Meadows through Fayetteville’s Community Bank of North Arkansas in August.

Jenny Talley of Dixie Real Estate in Fayetteville is the listing agent for the subdivision.

Heckathorn Hauls New Hotel Rooms

Heckathorn Construction Co. of Fayetteville recently bought a building permit valued at $1.4 million to build a 41-unit addition to the Hilton Garden Inn at 2204 S.E. Walton Blvd. in Bentonville. Tom Bhakta of Vishwakarta LLC is the developer.

Spectrum Engineering of Fayetteville is the structural engineer. Don Spann of Rogers is the architect. First Security of Fayetteville is financing the construction.

The hotel sits on 3.5 acres, and no additional land was purchased for the expansion. The 21,233-SF addition also includes the expansion of both the lounge and dining area. The project is expected to be complete in September.

Hydco Builds in Bentonville

Hydco Inc. of Little Rock recently bought a building permit valued at $957,528 to build a 12,276-SF single-story office structure at 1110 S.E. Evergreen St. in Bentonville.

The building, located at the corner of Arkansas highways 102 and 112 at Evergreen Center, will be a retail vendor showroom facility.

Williams & Dean Associated Architects Inc. of Little Rock is the architect. Hydco is the general contractor and developer of the building.

The developer of the five-lot business park is Rick Thomas of California. Two frontage lots, one two-acre lot off of Arkansas Highway 102 and one 0.85-acre lot off of “J” Street, are under contract.

Tom Holiman of Harris McHaney Realtors of Rogers is the leasing agent. The space will lease from $16 per SF with some finish-out work included. Spaces are a minimum of 1,565 SF and end-cap spaces start from 2,250-2,500 SF.

Eureka Auditorium Gets Renovated

The city of Eureka Springs has nearly completed a $500,000 City Auditorium renovation project. The auditorium, which has been closed since Dec. 30 for the renovation, is scheduled to reopen in time for a Janis Ian concert there on March 3.

Backstage Connections Inc. of Hollister, Mo., is the general contractor. Ron Tracy of Tulsa is the engineer. Tom Gass of Branson, Mo., is the architect

A new sound and lighting system was installed in addition to a new orchestra-pit cover, curtain and chandeliers. Renovations were funded through a $248,000 grant from the U.S. Interior Department’s National Park Service (called “Save America’s Treasures”) and from a matching general revenue promissory note that the Eureka Springs Advertising and Promotion Commission financed through Stephens Inc. of Fayetteville.

Condos Continue On East Avenue

Ira Schwartzman Construction of Winslow recently bought a building permit valued at $375,000 to build a 3,254-SF condo in the Heritage building at 201 N. East Ave. The two-story condo will occupy the second and third floors of the building and is part of the five-condo project that developer John Eldridge began in the fall of 2003. Eldridge has owned the building, which also houses his law office, since 1993.

Bank of Augusta is financing Eldridge’s development.

The lower floor of the building will house Eldridge’s law office and a gym/workout facility. Eldridge will also be building a residential unit of his own there. Robert Sharp Architect Inc. of Fayetteville is the architect on the condos. The structural engineer for the building is James L. Burke of Fayetteville. Tim DeNoble of Fayetteville is the architect for the entire building. The condo is a custom job for Ted and Carolyne Ashcraft.

The five residential units start at 2,300 SF and will price from $185 per SF unfinished.

About 15,000 SF of condo space exists, bringing the selling value of the project up to at least $2.7 million.

Nabholz Builds Arvest Branch

Nabholz Construction Co. of Rogers expects to break ground by mid-month on a 6,288-SF Arvest Bank branch in Rogers with a construction value of $1 million. The bank will be located at the corner of 46th and Olive streets in the Scottsdale Center. Arvest bought the 2.5 acre parcel of land from Rob Lewis in 1999 for $550,000. It will be the sixth Arvest branch in Rogers. The full-service facility will include all consumer, commercial and real estate lending but not trust services.

Arvest has had an ATM at that location for several years now.

Hight Jackson Associates of Fayetteville is the architect. The branch will have the same retail facility look as the one at the Wal-Mart Neighborhood Market in Rogers. It’s expected to open by Oct. 1.