Stonehill Rides Polo Complex (Real Deals)

Texas BBL LP of Dallas will soon begin construction on 356 apartment units valued at more than $15 million in the Glen at Polo Park apartment complex off Vaughn Road in Bentonville.

Brian Selbo of Stonehill-PRM Realty and Mike Horn, both of Dallas, are the developers of the upscale, 18-acre complex. About 60 percent of the unit will be one-bedroom and the remainder will be two bedrooms. Units will rent from $600 to $1,300.

Apartments will feature ceramic tile kitchens, crown moldings and nine-foot ceilings.

WSI Architects of Dallas is the architect, and Strand Engineering Systems of Dallas is the engineer.

Mike Horn of Vaughn LLC sold the 18.5-acre parcel in December to The Glen at Polo Park LP, the developer, for $1.2 million.

Texas State Bank in Dallas is financing the construction.

Crossland Builds At Beau Chene

Crossland Construction Co. will soon begin construction on a 40,500-SF facility in the Beau Chene Crossing medical office park off “S” Street in Bentonville. The building has a permit value of $3.2 million.

John Lawrence of Rescue Heroes LLC is the developer of the 23-acre park. Morrison-Shipley Engineers of Bentonville is the engineer on the project, and Harrison-French Architecture of Bentonville is the architect.

Bill McClard of Lindsey & Associates Inc. in Rogers is the leasing agent for the space, which will lease from $16 per SF. Lawrence said he is also offering custom buildings for sale.

Phase I plans call for two 40,000- to 60,000-SF buildings and up to eight buildings ranging from 8,000 to 16,000 SF per building.

Lawrence declined to disclose the name of any banks that may be providing financing.

Kennedys Add Sterling Chateaus

Burnett Commercial Contracting of Rogers will soon begin construction valued at $1.3 million on three Chateau-style buildings in the Chateau at Sterling Gardens subdivision off of 2nd and S.W. “O” Streets in Bentonville.

Pat and Susan Kennedy of Chateau at Sterling Gardens LLC are the developers of the project. The country-French style homes will appear to be single-family style, with one exterior door and rear-entry garages.

Tenants will enter into a foyer and individual entrances on respective sides. The Kennedys will rent the 2,000-SF furnished and unfurnished units from $2,000 to $2,500 per side.

Sand Creek Architecture and Engineering Inc. of Bentonville is the engineer. Chambers Bank of North Arkansas in Rogers is financing the construction.

Phase One Turn Key of Bentonville did the site work. Tevian Rose of Burckart Real Estate is the leasing agent.

Wohlford Stakes Stone Meadows

Wohlford & Co. of Bentonville recently bought 30 lots in Phase II of the Stonebridge Meadows subdivision in Fayetteville from Bill Meadows of Meadows Enterprises LLC for $1.1 million. United Bank in Springdale and Community First Bank in Fayetteville financed the land purchase.

Wohlford & Co. will be the general contractor on all of the lots purchased, and Dennis Wohlford will be the listing agent. Dennis and Mary Wohlford are the owners of Wohlford & Co.

The Wohlford homes in Stonebridge will range from 2,300 to 2,500 SF and sell from $102 to $105 per SF.

Construction should start next month. Homes and will feature tile and wood flooring, gas log fireplaces, and two and three-car garages.

Re/Max Building Sells to Revoaboe

Revoaboe LLC recently bought the 10,000-SF Re-Max Associates building at 1088 E. Millsap Road in Fayetteville for $980,000 from Margie Moldenhauer. The building is situated on a 0.75-acre parcel.

Brock Johnson is the principal in Revoaboe LLC, which includes other investors from Garver Engineers in Fayetteville.

Metropolitan National Bank in Little Rock financed the purchase.

James Harkins of Fayetteville’s Orion Realty represented the buyer and David Johnson of Re/Max Associates in Fayetteville represented the seller.

Garver Engineers said it planned to move its 21-employee firm into the building on Feb. 25, and it will occupy 7,500 SF of space. The firm will lease the remaining space to an existing tenant.

Garver will be making aesthetic improvements to the building and has hired Cal-mark Builders Inc. of Little Rock as its general contractor. Steelman Connell Moseley Architects PA of Little Rock is the architect.

January Mortgage Reports
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