May Constructions Buys $4.5 Million in Permits (Real Deals)

May Spouts Fountains

May Construction Co. of Fayetteville recently bought three building permits valued at a combined $4.5 million to construct three commercial buildings in the new 46-acre Fountain Plaza development in Bentonville. Located on Southeast Plaza Avenue, the buildings will range from 13,800 to 29,300 SF.

Dynamic Development Inc., of which Jeannie Fleeman Sooter is a principal, is the developer of the project.

May Construction is the general contractor and managing contractor for the project. CEI Engineering Associates Inc. is the engineer and Miller Boskus Lack Architects PA of Springdale is the architect. The master-planned site, which includes one-half mile of South Walton frontage, has the potential for 450,000 SF of commercial/retail space.

The 13,000-SF building is scheduled to be complete at the end of this year. The 18,000-SF one is set for February, and the 29,300-SF digs are expected by March.

About 50 percent of the 61,009 SF already underway is pre-leased. Nineteen of the 25 lots still are available; they will sell from $9 to $18 per SF and will range from one to four acres.

Ramsay Ball of Lane Real Estate Services Inc. is the leasing agent of the site. New building space will lease from $15 per SF. Bank of Arkansas N.A. in Fayetteville is providing the financing.

Barber Clamors For Clabber Creek

Barber Development Inc. recently bought 18 building permits valued at a combined $3.2 million to build homes in Fayetteville’s Clabber Creek subdivision off Rupple Road near Holt Elementary School.

Barber Development, of which Brandon Barber and Seth Kaffka are principals, bought all 88 lots in the second phase of Clabber Creek from BMW Investments, of which Curtis Wray, Sam Mathias and Bleaux Barnes are principals.

Kaffka secured a mortgage through John Ed Chambers of Danville for the lot purchase in July.

Barber Development will be building on 39 lots for investors and will sell the remaining lots to builders. Homes in Clabber Creek’s Phase II will look strikingly different from those in Phase I, range from 2,100 SF to 3,000 SF and sell from $220,000 to $334,000.

They will feature fully sodded yards, architectural shingles, solid-surface countertops, crown moldings, marble/ granite tile flooring, stainless steel appliances, gas stoves, and security and multimedia wiring.

Lehmans Sell St. Valery Lots

John Lehman and father Arnold “Tuffy” Lehman of Lehman Properties sold the remaining lots of Phase I in Cave Springs’ St. Valery Downs subdivision to SCB Investments for $2.9 million on Aug. 23.

Brandon Barber is listed as the managing partner of SCB.

Chambers Bank of Danville provided the financing for the purchase of the 39 lots.

There are a total of 81 lots in Phase I of the 120-acre St. Valery that range from 0.79 to 1.6 acres. Phase II has about 22 lots.

The Lehmans have also started construction on three spec homes in their Shady Grove subdivision on the King’s River in Carrol County. The 32-lot, 94-acre subdivision is a little more than a mile off of U.S. Highway 62 on County Road 327.

The two-bedroom, two-bathroom homes will range from 2,400 SF to 2,600 SF and sell from $200,000, including land. The lots range from two to 10 acres. The homes will feature red cedar logs and covenants state that the dwellings must be made out of natural materials.

Community First Bank of Eureka Springs is financing the development.

Bella Does Duplex Units

Prairie Grove’s Bella Homes of Arkansas Inc. recently bought 14 building permits valued at a combined $2.9 million to build the 28-unit Royal Point duplex subdivision off of Been Street in Bentonville.

Bella Homes is the general contractor, and Ken and Bill Lazenby are the developers. The three-bedroom, two-bathroom, two-car garage units are 1,300 SF each and will rent from $800.

First Western Bank of Rogers is financing the construction. Freeland-Kauffman & Freeden Inc. of Rogers engineered the plat.

Kenneth Bradley of K.C. Development LLC sold the lots to Bill and Ken Lazenby for $448,000 in early September.

The Lazenbys are also building a 92-unit duplex and 16-unit four-plex development off Womack Road in Centerton. The three-bedroom, two-bath units will be 1,300 SF and will rent from $800.

Lazenby Construction is the general contractor. The lots are under contract for sale from Kyle Engler. Northwest Excavation is completing the site work. Regions Bank in Rogers is financing the construction.

O’Charleys Creates Site in CMN Park

O’Charley’s Inc. of Nashville, Tenn. recently started construction on a 6,500-SF restaurant located at 3467 N. Shiloh Drive in Fayetteville’s CMN Business Park.

Great South Construction Co. of Pelham, Ala., is the general contractor on the project that has a $1.2 million building permit value.

Design and Engineering PC of Brentwood, Tenn., is the engineer, and E + H Architects PC of Brentwood is the architect. The restaurant will seat about 267 diners and will staff 115 to 120.

It is set to open in mid-January and will feature interior mural-type decorations that depict the local flavor of the area. The eatery features a full bar, hand-cut steaks and other American fare. The construction was financed internally.

Big Guy Gets Big Building

Brian Down of Bentonville has started construction on a 14,500-SF building valued at $1.2 million at 1007 S.W. A St. in Bentonville.

Down, along with partners Alan Down, Steven Mandich and David Ison of Chicago, is the developer of the “L-shaped” building and its three-acre parcel. The project is the first of three buildings planned for the site that will range from 20,000 to 30,000 SF.

Down is also the general contractor. Mike Stanula of Chicago, is the architect and Sand Creek Engineering & Landscape Architecture Inc. of Bentonville is the engineer.

Down will be leasing the space from $14 to $15 per SF.

Arkansas National Bank of Bentonville is financing the development.

Covington Covets Moberly Frontage

Dave Covington of Overland Development Co. of Rogers is nearing completion on $1 million worth of site work on the 20-acre commercial subdivision off Moberly Lane in Bentonville. The 20-acre Covington Center is located south of Best Motor Co. in Bentonville.

Construction on the new 6,400-SF Buffalo Wild Wings restaurant, being developed by John Bliss’ B&K Wings LLC is set to begin soon on the mixed-use site. The restaurant will seat 295 diners and will occupy 1.5 acres of Covington.

Aside from a retention pond that occupies five acres, Covington plans to sell the remainder of the land for $15 per SF. Arvest Bank-Rogers financed the site work.

Covington bought the land from Alawest Corp. of Alabama for $1.5 million. The purchase included a land trade of which Covington traded 10 acres located in Lowell, plus the $1.5 million for the Moberly land.

Keating Plants Vineyard Homes

Dick Keating of Keating Enterprises Inc. has started construction valued at more than $800,000 on two homes in Goshen’s 56-acre The Vineyards subdivision.

That will bring the total number of homes Keating has under construction in his 22-lot subdivision to five.

Homes in The Vineyards have a 3,500-SF minimum. Keating’s spec homes will range from 3,500 SF to 7,000 SF and will sell from $400,000 to $850,000. Eleven lots remain for sale and will sell from $86,000 to $125,000. They average two to 2.2 acres.

First Security Bank, The Bank of Fayetteville N.A., Bank of Arkansas N.A. and Regions Bank, all of Fayetteville, are financing the construction.

Jorgensen & Associates Engineers & Surveyors engineered the plat for the subdivision.

USI Eyes Headquarters

USI-Arkansas Inc. of Springdale recently bought a building permit valued at $795,496 to start construction on a new 10,000-SF office building east of Interstate 540 and 48th Street in Springdale.

Dixie Construction LLC of Fayetteville is the general contractor on the exterior, and USI plans to bid out the interior package in September.

Don Mobley Architects of Springdale is the architect on the project. First Federal Bank in Springdale is financing the construction.

The engineering firm will occupy 6,250 SF of the building and will lease out the remainder. The project is expected to be complete by January.

Frontier Explores Summersby Project

Frontier Development Group, of which Josh Matthews is a principal, recently bought a building permit valued at $400,000 to build a 5,100-SF home in Fayetteville’s 50-lot Summersby subdivision.

Summersby LLC, a partnership between J.B. Hayes and Mark Foster, is the developer of the east Fayetteville subdivision, which is located one block south of the Park Place subdivision.

Homes in Summersby have a 3,000-SF minimum. Jorgensen & Associates Engineering of Fayetteville engineered the plat. First Federal Bank in Fayetteville is financing the construction.

Frontier is also building a 4,100-SF home in the subdivision that should be finished in October. Matthews said it should sell for $550,000 and the new 5,100-SF home should sell for $700,000.

Frontier development is also building in Johnson’s Liberty Heights subdivision, The Springs At Wellington in Cave Springs and The Pinewoods and Shenandoah Hills, both in Springdale.