Upscale Ropes Myers Ranch (Real Deals)

Paul Myer, through his Upscale Companies LLC and its subsidiaries, is breaking ground on a $100 million project on Dodson Road in Rogers.
Myers Ranch sits on 18.47 acres and will include The Sheraton hotel along with five lots of office, restaurant and retail space.
The Sheraton, which is part of Starwood Hotels & Resorts Inc., of White Plains, N.Y., will take up 5.55 acres of the development. It is planned to be five-stories with 155 rooms.
Two of the five remaining lots have been sold and will be a 15,000 SF building and an 8,000 SF building. The tenants were not made available.
WACO Title Co. of Rogers closed the original property sale. Myer purchased 40 acres in March of 2004 from two different sellers, Max Lough (29 acres) and John Leroy (11 acres) for $2.1 million. He has since sold half of the property.
Ozark Mountain Bank of Branson, Mo., is financing the land purchase and development, but no agreement has been reached on the hotel loan.
Jim Lightener and Ed Belto with Northwest Arkansas Real Estate in Bentonville are the listing agents. Lease prices are still being formulated.
No general contractor has been selected.
Steve Marquess of Harrison French & Associates Ltd. of Bentonville is serving as architect for the two buildings.
PB2 Architecture and Engineering Ltd. of Rogers was the architect for the entrance feature.
No architect has been selected for the hotel design.
Crafton Tull & Associates of Rogers is the civil engineer.
The entire development will have a “mountain ranch-style theme” and will be valued at $100 million upon build out. The construction cost of the hotel is projected to be about $14 million, but should appraise between $20 million and $22 million when completed in the summer of 2008.
Rogers ‘Parc’ Apartments Start
NE Construction Ltd. of Lewisville, Texas, recently purchased 25 building permits totaling $14 million to construct an apartment complex at 513 Dodson Road in Rogers.
In addition, NECL bought another building permit valued at $216,000 to construct a clubhouse at the same location.
The developer is Apartment Development Services Ltd. of Dallas. Jerry Woods is the principal of ADS.
There will be 25 buildings with 250 total units that range in size from 734 SF to 1,322 SF. The complex will be called the Parc at Rogers.
It will be a gated community. The clubhouse will include an exercise facility and pool. There also will be a lake that serves as a retention pond. Each unit will feature attached garages with direct access to each apartment.
GraPat Group Inc. of Plano, Texas, is the management/leasing agent. Rent prices are still being formulated.
NE Construction is the general contractor.
Dave Sadler of Nelson Architectural Group Inc. in Pine Bluff is the architect while DCI Engineering of Little Rock is the engineer.
The project is located on 20 acres. The land was purchased from Paul Myer in April of 2004 for $1.39 million, which did not include the cost of utilities.
Whorton Stocks New Subdivision
Whorton Construction of Northwest Arkansas Inc. of Springdale recently bought 40 building permits totaling $6 million to begin a new subdivision on Linden Circle in Springdale.
The subdivision will be called Stockton.
Jeff Whorton is the owner/operator of Whorton Construction and its subsidiaries.
Whorton purchased the 20 acres off U.S. Highway 412 East from Riggins Properties. The two warranty deeds totaled $1.7 million and were signed Aug. 31.
Financing is being provided by The Bank of Fayetteville.
Whorton is serving as the contractor, architect and engineer for the project.
Homes will average 1,250 SF. Each will have three bedrooms, two baths, and two-car garages with a 70 percent brick exterior. They are listed for $139,900.
Justin Dunn of Whorton Realty is the listing agent.
Martin Brothers Begin Biz Park
Brothers Jeff and Wayne Martin, through their JW Properties Group entity of Illinois, are finalizing plans for a project valued at more than $5 million at 1400 E. Central Ave. in Bentonville.
The Archers East Central Business Park will include five buildings totaling 55,100 SF. No building permits have been purchased.
Financing will be provided by Parkway Bank in Rogers.
Three buildings (one each at 15,000 SF, 11,500 SF, and 8,600 SF) will be leased to service businesses since they are a combination of office/warehouse space with roll up doors in the front and back. The remaining two buildings (11,800 SF and 8,200 SF) will be leased as retail space.
Craig Hull of Hull & Company in Bentonville is the listing agent. Lease prices are still being formulated.
Clinard Construction Co. of Bentonville is the general contractor.
Johnson Troillett Architecture P.A. of Holiday Island is the architect.
ARMac Consulting Engineers PLLC of Fayetteville is the civil engineer while Henderson Engineers of Lowell is the mechanical, electrical and plumbing engineer.
The Martins purchased the 4.01 acres for the project from Max McGaugh for $450,000 on a warranty deed signed Jan. 31.
Hashing Out Shopping Center
Brett Hash, the co-owner of Re/Max & Associates in Fayetteville, recently obtained land on the northeast corner of U.S. Highways 412 and Arkansas Highway 112 in Tontitown.
Dogs Red LLC of Fayetteville previously owned the 24 acres that is behind Mary Maestri’s restaurant, but Hash bought out DR partners Gary Brandon, Daniel Maestri, Howard Higgins and Lisa Higgins.
Hash recently obtained a $2.85 million loan from Liberty Bank of Arkansas to pay off the group’s debt and purchase the land, which cost just over $4 million.
Title Associates of Fayetteville, which is owned by Hash, closed the original deal on the land. Most is zoned for commercial use, but a strip on the north side of the property is zoned for residential.
Hash plans to build an Italian-themed shopping center on the property that will be between 40,000 SF and 50,000 SF. There also are six outparcels planned to border both highways that Hash will either sell or build-to-suit. There’s also the possibility that Hash may add some light-density, multi-family buildings on the north side.
Don Mobley of Mobley Architects Inc. in Fayetteville is the architect.
Brian Moore of ESI Inc. in Springdale is engineering the preliminary plat.
Haynes Springs Medical Facility
Collin Haynes, the president of Haynes Ltd. in Rogers, and Dr. Robert Tomlinson of Fayetteville will soon break ground on a $2.5 million medical office building at 2783 N. Shiloh Drive in Fayetteville.
The two-story, 24,000-SF building will be called Springwoods Medical Facility, and is near the entrance of the 289-acre Springwoods development.
The lower level will be Tomlinson’s office and a portion will be Dr. Todd Wulf’s office. The second floor is available.
EWI Constructors Inc. of Fayetteville is the general contractor.
Haynes Ltd. is serving as the architect.
Robert Jones Engineering of Rogers is the electrical engineer. HBH Engineers Inc. of Republic, Mo., is the mechanical engineer. Myers Engineering PLLC of Van Buren is the structural engineer. FKF Engineering of Rogers is the civil engineer.
The project, which is located southwest of the Interstate 540 and Arkansas Highway 112 interchange, is targeted for completion in August of 2007.
Southwinds Plaza Blows Into Farmington
Sue Bartholomew, through her Southwinds Real Estate Inc. entity, recently obtained a $1 million loan from The Bank of Fayetteville in Priairie Grove to construct office/retail space in Farmington.
Southwinds Plaza is located at 95 S. Southwinds Road behind the White Oak Station Convenience Store.
The property appraised at $1.2 million.
Bartholomew, who was part of the group that developed the Southwinds Subdivision just south of the project, has owned the one-acre tract for about five years.
The 9,600-SF building includes seven units and will have a brick exterior. It will be built-to-suit if leases are signed before construction is completed.
Southwinds Real Estate is the leasing agent. As an incentive, the first three months are free, and the space will then lease at $12 per SF.
Two tenants, including an unnamed dry cleaning business and a jewelry store, have already sign leases, which leaves about half of the space available.
Bartholomew is serving as the general contractor and the architect. Jeff Bates of Blew Bates & Associates of Fayetteville handled a portion of the engineering work.