George?s No Longer Curious About Retail (Real Deals)

CL George & Sons of Springdale recently bought a building permit valued at $4.98 million to construct a 55,000-SF retail building at 4093 W. Sunset Ave. in Springdale.

Foundation work has already started on the project, and it’s scheduled for completion next spring. Gary George, CEO of George’s Inc. in Springdale, has owned the property for “decades” and is the general partner of CL George & Sons.

George’s would not disclose the actual construction cost of the project, but he said Legacy National Bank of Springdale would be financing of the project. Gary George is one of Legacy’s investors.

May Construction Co. of Little Rock is the general contractor for the shell construction. May is in the final stages of completing Legacy National Bank’s main office on the same parcel, just north of the retail center.

Crafton Tull & Associates of Rogers is serving as the architect and engineer for the project.

Matt Brown of George’s is handling the leasing and management of the retail center.

No leases have been signed at this time.

V and B Rolls With Roller City

On May 17, Viglione and Bassett LLC of Fayetteville bought part of Lot 10 and all of Lots 11-12, Block 1, Commerce Subdivision, Phase II in Springdale from Springdale’s Roller City of NWA LLC.

The land is located at 1007 Century St. in Springdale and sold for $979,000.

Chad Munroe is the incorporator/organizer of Roller City. David Bassett is the president of Viglione and Bassett. Raymond Smith is the registered agent.

Roller City got the land from Times Square Ltd. Partnership of Rogers in 2005. Luther Black is president of Times Square.

Movement Takes Place In Skyler

Six parties purchased property for a combined total of $837,000 from Dale Schultz and Darlene Schultz along with David Chance and Patsy Chance in the Skyler Place Addition in Fayetteville.

Buying land from the Schultzes were Deborah J. Garjian, Michael Kronk, and Leonard J. Hicks and Adelaide I. D’Ambrosio. Each buying party paid $279,000.

Garjian bought Lots 33A and 33B on May 24. First Guaranty Mortgage Corp. of McLean, Va., granted Garjian a $265,000 mortgage. The addresses for Garjian’s property are 1750-1752 N. Evening Shade Drive.

Kronk picked up Lots 36A and 36B on May 3. United Bank of Springdale gave Kronk a $160,000 mortgage. Kronk’s addresses are 1717-1719 Willowbrook.

On May 19, Hicks and D’Ambrioso bought Lots 34A and 34B on a $265,000 mortgage from First Guaranty Mortgage Corp. Addresses for the duo’s land are 1776-1778 N. Evening Shade Drive

The Schultzes operate Schultz Investments and Development Inc., Dale Schultz Construction Co. LLC and Schultz Management Co., all in Fayetteville.

Kirk F. McClelland and Yulia S. McClelland, Michael K. Jones and Adreanna K. Jones, and S&M LLC, bought from the Chances. The McClelland transaction was worth $212,000 while the other two were $208,000 each.

The McClellands received a $169,600 mortgage from Legacy National Bank in Springdale for Lots 40A and 40B. The addresses are 1614-1616 N. Willowbrook.

The Joneses obtained Lots 49A and 49B at 1615-1617 Evening Shade Drive They received a $208,000 mortgage from The Bank of Fayetteville.

S&M bought two pieces of land: Lots 41A and 41B; and Lots 48A and 48B. The property’s addresses are 1653-1655 Evening Shade Drive and 1650-1652 Willowbrook. S&M received two $208,000 mortgages from The Bank of Fayetteville for the May 26 buy. Bleaux Barnes is the managing member of S&M.

The Chances run Lowell-based Chance Contractors Inc.

Grahams Grant Land In Knolls Subdivision

On April 17, Lonnie Graham and Kathe Graham, trustees of The Graham Family Trust, sold Lots 18, 23-27, 44, 58-71 in Goshen’s Knolls Subdivision to Dana Samples and Donna Samples for $736,000.

The Samples took out a $730,550 mortgage from Arvest Bank-Springdale in relation to the land.

Lonnie Graham is the developer of the Knolls, which is located along Arkansas Highway 45 east of Fayetteville. Homes in the Knolls are at least 2,750 SF with some more than 5,000 SF. The Knolls has 73 single-family lots with most at 2 acres or more. Home prices start at $300,000. The Knolls features parks, trails and playgrounds.

It is estimated that the entire Knolls subdivision will cost more than $40 million to construct.

FirstCare Family Makes Move

Springdale Family Medical Rentals LLC recently bought a building permit valued at $622,758 to construct a 6,400-SF family medicine practice at 1109 S. West End St.

Construction is under way on the project that is less than a block north of Sunset Avenue. It will be the new location for FirstCare Family Doctors Springdale, which is currently located at 100 S. Shiloh.

FirstCare Family Doctors Springdale is an affiliated clinic of Medical Associates of Northwest Arkansas.

Springdale Family Medical Rentals LLC is the owner/developer of the project and purchased the property last spring for an undisclosed amount.

Erick Burns Construction Inc. of Goshen is the general contractor for the entire project. Neither Burns nor Springdale Family Medical Rentals would disclose the actual construction cost of the project.

Arvest Bank-Fayetteville is handling the financing, and a $1.1 million loan was obtained by Springdale Family Medical Rentals in relation to the project.

Key Architecture Inc. of Fayetteville is the architect, and Joseph Looney & Associates of Lowell is the structural engineer.

Working from the office will be Dr. William J. McGowan, Dr. Matthew B. Totten and M. Shannon Jones.

Sun Shining On Spring Creek

Three groups recently bought homes from Rod Wallis Construction Inc. of Springdale. The homes were located in Springdale’s Spring Creek Estates.

Victor S. Castillo bought a house on Lot 82 in Phase II-B at 1933 Spring Creek Ave. for $211,000. Arvest Mortgage Co. in Lowell supplied a $168,000 mortgage.

David Quijada bought a house at Lot 66 in Phase II-A at 3214 Glenbrook Loop for $216,000. Quijada got a $197,607 mortgage from Bank of Oklahoma N.A. in Tulsa.

Carmen T. Ballesteros and Ana Maria Trujilo purchased a house at Lot 136 at 3331 Glenbrook Loop in Phase II-A for $203,000. Pulaski Mortgage Co. in Little Rock loaned $182,340 for the purchase.

Rod Wallis is the president of Rod Wallis Construction.

Phase II of Spring Creek has 162 lots. Houses start at $200,000 and have a minimum 1,700-SF. Lots are priced at $35,000. The lot sizes vary and houses start at $118 per SF. Don Stohldrier is the developer of Spring Creek. The subdivision is located east of Arkansas Highway 265 and south of Electric Avenue.

Trices Pony Up For Polo Property

Brian W. Buell and Donna W. Buell recently sold Lot 22 of the Polo Country Estates Subdivision to John Trice and Stacia Trice for $545,000. The address for the house is 1875 Chukker Drive in Fayetteville. The Trices got a $545,583 mortgage from Arvest Bank-Fayetteville. Polo Country Estates is a 23-lot subdivision located on Arkansas Highway 45 west of Goshen. Lots are 2 acres and sell for $100,000 to $130,000.

Houses range from $480,000 to $780,000, have a minimum of 3,000 SF and sell for $132 to $170 per SF. Brian Buell is the developer.

Duo Buys From Taylor Properties

On May 22, Fred Kouchehbagh and Sammy Mohandassian bought 0.76 acres at 2768 N. College Ave. in Fayetteville. Leigh Taylor Properties of Fort Smith sold the duo the land for $530,000.

The buyers got a $490,000 mortgage from Liberty Bank of Arkansas in Siloam Springs. Chad White is the incorporator/organizer of Leigh Taylor with Leigh Taylor and Cleve Benson as members.

Leigh Taylor bought the land from G & C Family LLC of Fayetteville in July 2005. Chasity Williams is the incorporator/organizer of G & C with Charity Williams, Monte Johnson and Cheryl White serving as managing members.

(Mike Capshaw contributed to this report.)