Mathias Marks Shopping Center (Real Deals)

Mathias Shopping Centers Inc. recently bought eight acres off Arkansas Highway 62 in Fayetteville from Gene and Donna Baker for $1.9 million.

Sam Mathias, a principal in Mathias Properties, said the group plans to build a 40,000-SF shopping center there.

Ken Shaner of Rogers is the architect for the project. Keystone Consultants Inc. of Fayetteville is the engineer. Chambers Bank of North Arkansas in Fayetteville financed the land purchase.

Rainbow Relocates To New Hudson Store

Rainbow Cycle & Marine of Rogers recently bought a building permit valued at $1 million to construct a new store off Hudson Road in Rogers. Crossland Construction Co. of Rogers is the general contractor for the metal building project.

Arvest Bank-Rogers is financing the construction. Harrison French Architecture of Bentonville is the architect. Morrison Shipley Engineers Inc. of Lowell is the engineer.

The existing store is 7,000 SF and sits on 2.7 acres. The land and the store are under contract for sale to a development firm, Whitten said.

The new store will be 15,000 SF in addition to a separate 5,000 SF workshop facility. It is scheduled to be complete at the end of February.

Rick Whitten and Don Soderquist of Rainbow Land Holdings LLC are the developers and owners of the new facility that sits on six acres.

Rainbow Land Holdings bought the entire 15-acre parcel from Kathy Ball and Karen Ball of 3KBLLLP for $650,000 in March.

Landmark Expands Bentonville Church

Clinard Construction Co. of Bentonville recently bought a building permit valued at $935,844 to construct a 10,500-SF expansion to the Landmark Baptist Church at 206 S.E. 28th St. in Bentonville.

The new sanctuary construction will expand seating to 250 and increase education space. Associate Pastor Terry Simmons said the church will be able to seat 600 in the future.

Kenny Williams is the pastor of Landmark Baptist Church, which was founded in the late 1970s. The church owns 12 acres on its existing site.

Arvest Bank-Bentonville is financing the construction.

Copper Ridge Shines in Bentonville

Copper Ridge LLC recently started construction on a 14,500-SF retail center valued at $921,250 off 2800 S.W. 14th St. in Bentonville.

Bob Moore and Wil Witcofski of Bella Vista are the partners in Copper Ridge LLC, which is the developer and general contractor of the project.

Lease space minimum will be 1,100 SF, and rates have not been determined, although Moore said they would be “competitive.”

Space will be offered to processional services and retailers.

Regions Bank of Rogers is financing the development. Robert Berry of Eureka Springs is the architect. Freeland-Kauffman & Fredeen Inc. of Rogers is the engineer.

Copper Ridge bought the 1.2-acre parcel for the center from Billy Moore in 2003.

Bob Moore and Witcofski are also developing a 30,000-SF retail center off Arkansas Highway 102 in Rogers that will probably be called The Space Center. Moore and Witcofksi own the Store Mart that is located behind the future center.

Lease space will be a minimum of 2,000 SF. Freeland-Kauffman & Fredeen will engineer that project, and Berry is the architect. The project has received large-scale development approval from the Rogers Planning Commission and should start construction soon.

Arvest Bank-Rogers is financing the construction.

Charlton Opens More in Oak Trace

Charlton Construction Inc. recently bought two building permits valued at a combined $839,160 to construct two buildings in the Oak Trace office park off 28th Street in Bentonville. John Charlton and Mike Charlton of Charlton Development Inc. are the developers of Oak Trace and the general contractors of the building.

One building will be 3,360 SF and is already leased, Mike Charlton said. The other building is 7,000-SF. Both buildings are part of Phase V in Oak Trace. The new construction brings the total SF in the park to about 100,000 SF.

First Security Bank in Rogers is financing the construction. Robert Berry of Eureka Springs is the architect. W.R. Consulting of Bentonville is the engineer.

Space will lease from $15 per SF annually. That includes water, sewer, gas and electric. The buildings should be complete in late summer.