Clear Creek Tower Planned in Johnson (Real Deals)

CDI Contractors of Rogers has started site construction on a 60,000-SF office building valued at $8 million in Johnson. Slab construction should begin by the end of Oct. 1.

The four-story building, called Tower One, will be located in the 260-acre Clear Creek Office Park being developed by Orion Realty of Fayetteville. Brandon Rogers is the managing partner of Orion Realty. Simmons First National Bank is financing the construction. Wittenburg, Deloney & Davidson Inc. of Fayetteville is the architect on the building, and CEI Engineering Associates Inc. is the engineer. The building will have a masonry base with all-glass upper floor levels. Tenants for the site will include Chambers Bank, CJRW Northwest, CDI Contractors and Orion Realty.

About 50 percent of the building is available for lease and will lease from $19.20 per SF. Orion Realty is the leasing agent. The building is expected to be complete in fall 2005. The master-planned retail, residential and office development off Interstate 540 has a 218-unit apartment complex under construction. Plans call for another 20,000-SF office/retail building located at the northeast quadrant of the Johnson I-540 interchange, as well as other buildings ranging from 10,000 to 60,000-SF to compliment Clear Creek Tower One. A 20,000-SF office/retail building is also planned for the southeast corner.

The plans for the Northwest side of I-540 call for two restaurant pad sites and 13 office buildings ranging in size from 7,500 to 80,000 SF in addition to a 115-lot residential gated community.

Sunset Flys Wingate lnn

Sunset Development of Rogers recently bought a building permit valued at $5.4 million to begin site construction for the 61,463-SF Wingate Inn off Southwest Old Farm Boulevard in Bentonville. Aero Airport Hotel LLC, of which Mike Horn of Dallas and Don Culbertson of Overland Park, Kan., are partners, are the developers of the 103-room hotel. Culbertson is also a principal in the Sunway Hotel Group of Overland Park, which is slated to manage the hotel and has managed more than 200 hotels nationwide. David Baumann of Fargo, N.D., is the architect on the project. Arkansas National Bank of Bentonville is financing the deal. Culbertson and Horn recently bought the 2.5-acre hotel piece from the original 300-acre Polo Park for $662,000 from Old Farm LLC, of which John Grimes is the managing member.

The three-story interior corridor design will have an outdoor pool, boardroom and business center.

A.R.C. Centers Phase Nine

A.R.C. Inc. of Centerton recently bought 18 building permits totaling $1.7 million to build homes in Phase 9 of the Centerpoint subdivision off Arkansas Highway 102 in Centerton. A.R.C. Inc. — which is owned by Ralph, Carl and Alan Walker of Walker Construction of Centerton — is the developer of the 550-lot subdivision. There are 48 lots in Phase 9. Homes will sell from $102,900-$130,900 with a minimum SF of 1,369. Lots average 0.19 acres. Bank of Arkansas of Fayetteville and Bank of America of Springdale both financed the construction of the Phase 9 lots.

Steele Stocks Centerton Lots

Steele Development Inc. of Bentonville recently bought 24 building permits valued at a combined $1.6 million to build duplex units in the Appleridge subdivision off Bliss Street in Centerton.

Steele Development Inc., of which Tony Steele and Tyler Steele are owners, is the developer on all of the units and the general contractor on most of the units. Black Springs Construction of Fayetteville and Cornerstone Construction of Bentonville are also building in Appleridge. The 0.58-acre lots sold for $40,000. The 1,078-SF units will rent from $600 to $700 per month.

Steele is personally financing the construction. WR Engineering of Bentonville is the engineer for the subdivision.

Steele is also developing four other subdivisions in Centerton:

• Steele has homes under construction in Phase 1 of the 50-acre, 152-lot Laynebridge subdivision where homes are a minimum of 1,800 SF.

• Site work has begun on the 52-lot, 20-acre Tarah Knolls near Tuscany subdivision where lots average 0.27-acres and will sell from $45,000.

• The 0.22-acre lots in the 17.5 acre Timber Ridge off Bliss Street await preliminary plat approval and will sell from $39,000. Homes there will be a minimum of 1,700 SF.

• Site work continues on the 18.9-acre Black Springs subdivision located just west of Laynebridge. Lots in Black Springs average 0.22 acres, and homes will be a minimum of 1,800 SF.

Beeler Bets Paige Place

Wil-Be eInc. of Gentry recently bought eight building permits valued at a combined $1.2 million to start construction on another four lots in the Paige Place subdivision off Mount Olive Street in Siloam Springs.

Pat Beeler is the owner of Wil-Bee Inc., the general contractor and developer of the 27 lots in the 10-acre Phase II of the subdivision. Lots in Paige Place average 0.20 acres. Homes range from 1,900 to 2,600-SF and will sell from $180,000 to $275,000.

Civil Engineering Inc. of Siloam Springs is the engineer. First Federal of Tontitown financed the construction.

Correction:

The Northwest Arkansas Business Journal reported in the largest subcontractors list in the Sept. 13 issue that Fayetteville Mechanical Contractors Inc. had revenue of $2.5 million in 2003. The company’s 2003 revenue was actually $15.3 million.