May Makes Lowe’s Lot (Real Deals)

May Construction Co. of Little Rock recently bought a building permit valued at $12.1 million to build a 136,000-SF Lowe’s home improvement store off Lowe’s Avenue in Bentonville.

Scott & Goble Architects of Tulsa is the architect. Ozark Civil Engineering Inc. of Bentonville is the civil engineer. MPW Engineering LLC of Tulsa is the mechanical, electrical and civil engineer. Lysaght & Associates of Raleigh, N.C., is the structural engineer.

Pinnacle Pins Burger Lot

Pinnacle Hamburger Partners LLC recently secured a $2.9 million mortgage through Great Southern Bank of Springfield, Mo., to start construction on a Fuddruckers restaurant off Market Street in Rogers.

Bill Schwyhart is the managing member of Pinnacle Hamburger Partners. Pinnacle Hamburger Partners bought lot 5 from HSG Holdings LLC for $678,000 in August. Schwyhart is also a managing member of HSG Holdings.

Bell-Corley Construction LLC of Rogers started site construction on the $1.1 million, 7,600-SF restaurant in July. Joe and Dawn Hudack own the Fuddruckers franchise and will lease the building from The Pinnacle Group under a five-year option to buy the property. Joe and Dawn Hudack have a contract to build a total of seven Fuddruckers restaurants in Arkansas.

Hoskins Hooks Oakbrook Lots

Tracy Hoskins of Paradigm Development in Fayetteville will soon start site construction valued at $2.5 million on the 109-lot Oakbrook subdivision in Fayetteville.

Oakbrook is located off Rupple Road between Mount Comfort Road and Wedington Drive in Fayetteville. The subdivision received final plat approval from the city of Fayetteville in early September.

Hoskins is the developer, site contractor and general contractor of the 33.5-acre subdivision. He said each home will be custom designed through Paradigm’s in-house architect, James Ramsey.

Lots will range from 0.25 to 0.50 acres. Homes will range from 1,400 to 3,000 SF and will sell from $175,000 to $400,000. Hoskins said the bungalow-style homes will feature a mixed use of brick, stone and siding exteriors with “usable porches.”

Simmons First Bank of Northwest Arkansas in Springdale is financing the construction.

ARC Aims For Phase IV

ARC Construction Co. of Centerton recently bought 10 building permits valued at a combined $1.6 million to build homes in the Windwood subdivision in Bentonville.

ARC Walker is the developer and contractor of all of the homes in the 125-acre subdivision off Arkansas Highway 102 and Been Road in Bentonville.

The construction is for Phase IV for the subdivision. Sean Morris of ARC said the company has closed on 198 homes since it started construction in 2001.

Alan, Ralph and Carl Walker are all equal partners in ARC. New homes in the 420-lot subdivision will range from 1,640 to 2,100 SF and will sell from $160,000. Homes will feature cherry wood cabinets, ceramic tile and architectural shingles. Jorgenson & Associates of Fayetteville engineered the plat for the subdivision.

Cottonwood Sells Retail Center

Cottonwood Village LLC recently sold a 15,000-SF retail building in the Cottonwood Village subdivision off “J” Street in Bentonville to Wyndex Group LLC for $1.5 million. The purchase includes 1.5-acres.

Shaul Churi, Tuvia Menvel and Yeval Hazon of Beverly Hills, Calif., are the principals in Wyndex Group LLC.

Arvest Bank-Rogers financed the purchase.

Chris Whitt of Whitt Properties LLC of Fort Smith and John Alford of Wally Properties LLC in Fort Smith are partners in Cottonwood Village LLC.

Clinton Bennett of Dallas Real Estate Services Inc. in Fayetteville was the seller’s representative.

Chris Schwind of Dixie Real Estate in Bentonville was the buyer’s representative. Schwind will also be the leasing agent for the remaining space in the center.

Space will lease from $14.50 per SF. The price doesn’t include tenant finish-out.

Miller Boskus Lack Architects PA of Springdale is the architect on the building. Morrison Shipley Engineers Inc. of Bentonville is the engineer on the subdivision.

There are about 25 of 30 lots left for sale in Cottonwood Village, which is about 30 acres. Lots range from 1 acre to 6 acres, and land sells from $4 per SF.

Johnson Shades Shadow Valley

Lance Johnson Builders of Springdale recently bought six building permits valued at a combined $938,718 to build homes in the Shadow Valley subdivision in Rogers.

Lance Johnson Builders, or JBC Inc., has 27 homes under construction right now, of which some are nearly complete. Eight of those 27 lots are town-home lots.

Bank of America N.A. of St. Louis is financing the construction.

The town homes, of which there are four to a 7,184-SF building, range from 1,739 to 1,853 SF and have been selling from $250,000.

The two- and three-bedroom units feature crown molding, tile, hardwood flooring, granite countertops and fireplaces.

The single-family homes off Atherton Court will average 2,400 SF and will have either four bedrooms or three bathrooms. They will sell from $350,000.

E.J. Johnson of Builders Real Estate of Springdale is the listing agent for the homes and town homes, which are spread out in phases 1 through 6 in the subdivision.

There are 338 lots in phases 1 through 3 in Shadow Valley and 123 lots in phases 4 through 6.

Charles Reaves is the developer of Shadow Valley. The subdivision was originally platted in 2001 by Crafton Tull & Associates Inc. of Rogers.

Brandon Inks Signature Spot

Gary Brandon will soon start construction on a 10,000-SF building in the 23-acre Shoppes at Har-Ber Lakes development off U.S. Highway 412 and Jones Road in Springdale.

NWA Holdings LLC, of which Dennis Moore is a partner, is the developer of Har-Ber Lakes.

Phillip Brandon is the owner of the building, of which Signature Bank of Arkansas will occupy 7,000 SF and lease back from Phillip Brandon.

Phillip Brandon bought the 1.5-acre lot in June from NWA Holdings for $705,000.

Kim Fugitt of Fayetteville is the architect. Engineering Services Inc. of Springdale is the engineer of the subdivision.

Signature will be a full-service bank with 25 employees and is expected to be open in spring of 2006.

Jamerson Jams Apartment Units

Jamerson Properties LLC recently bought two building permits valued at a combined $585,000 to build 16 apartment units off Sligo Street in Fayetteville.

Brian Jamerson is the owner of Jamerson Properties.

Sligo Street is located one block south of the University of Arkasas’ Baum Stadium.

The project will have two buildings with four one-bedroom and four two-bedroom units each.

The two bedroom units will be 884 SF and rent from $550 per month and one-bedroom units will be 484 SF and rent from $400 per month.

The units should be ready by mid-December, Jamerson said.

First State Bank in Fayetteville is financing the construction.

Jamerson bought the 0.75-acre lot in December 2004 from Terrance Ritchie and Jim Blevin for a combined $174,000.

Jamerson said he paid $37,000 in 2003 for a 0.75-acre lot, which now contains 16 apartment units and is located adjacent to the new apartment construction.

EB Landworks of Fayetteville is the engineer. Ken Shaner of Rogers is the architect.

Jamerson also plans to build two 1,600-SF homes on the same site as the apartment construction.