Fox-Farr Begins Chateau Project (Real Deals)

Rex Fox and Frank Farrer, through their Fox-Farr Inc. entity of Bentonville, recently obtained a building permit valued at $2.96 million for a retail/residential building at 3401 S.W. 2nd St. in Bentonville.
Norma Farrer and Carolyn Fox also are listed as members of Fox-Farr Inc.
The Bank of Gravett in Centerton is financing the project.
The Chateau on Chardonnay will include a two-story 27,500-SF building. It’s on about 1.5 acres on the southwest corner of the Arkansas Highway 72/Elm Tree Road intersection. The property has been owned by Rex Fox for about five years.
The lower level will be reserved for retail space while the upper level will be corporate-style apartments. The entire building will be constructed using European architecture and “Olde World” design. There also will be stain glass windows and a fountain.
Rex Fox and Frank Farrer are serving as the general contractor.
Yume Rudcinski of Architects 226 in Fayetteville is the architect.
Jim Gore of Gore Engineering Associates Inc. of Rogers and Sand Creek Engineering & Landscape Architecture of Bentonville handled the engineering work.
Lease prices are still being formulated. Norma Farrer will be the leasing agent.
The 22 retail spaces are 1,250 SF per unit. The project only calls for shell construction, but build-outs will be available as tenants are signed.
The 22 apartments also are about 1,250 SF each. Amenitities include luxury master bathrooms, gourmet kitchens and high-end appliances and lighting.
The project is scheduled for completion in the summer.
Fox-Farr also recently sold land on the southeast corner of the intersection for $575,000. It will be the site of a Kum & Go convenience store.
Radiant Life Expands Church
Radiant Life Church of Bentonville recently began work on projects that will be valued at about $2.5 million upon completion.
The project involves three phases and will be south of the existing church located on about two acres at 915 W. Central Ave. in Bentonville.
Radiant Life Church is financing the expansion with in-house funding, but will use the Bank of Rogers if any additional money is needed.
Most of the people involved with the construction are friends of the church who are employed by companies, but doing this project on their own.
Lisa and Terry Nalley are serving as the general contractors.
John Roberts is the architect and Richard McKeon is the civil engineer.
Phase I includes a 10,000-SF building. The two-story building will feature a metal exterior.
The lower level will be classrooms while the upper level will be used for classrooms too with about 3,000 SF serving as a temporary sanctuary that can seat about 200 people.
Phase II is a 9,000-SF sanctuary that can seat about 600 people. Radiant Life Church’s current sanctuary has a capacity of about 120.
Phase III will include what pastor Galen Pearcy described as a standard-sized gymnasium.
Radiant Life Church recently bought a building permit valued at $1.2 million for the construction of Phase I, which should be finished in early summer.
Parkway Closes on Built Branch
Parkway Bank of Rogers recently paid Dave Covington and Joanne Covington $1.93 million for land and a completed bank branch at 1100 S.E. Walton Blvd. in Bentonville.
Dave Covington, trustee of The David E. Covington Trust, and Joanne Covington, trustee of The Joanne M. Covington Trust, constructed the 3,800-SF building for Parkway before the less than one-acre parcel (known as Lot 2 of the Overland Park subdivision) traded hands.
Elite Title Co. of Rogers closed the sale.
Financing was in the form of cash from Parkway’s capital holdings.
Natural Builders Inc. of Rogers was the general contractor.
Harrison French & Associates of Bentonville was the architect and also handled the civil and mechanical engineering.
Tatum Smith Engineers Inc. of Rogers was the structural engineer.
Lockwood 2 Creations of Bella Vista handled the construction management and interior design.
The mid-December opening of the branch was simultaneous with another Parkway Bank branch opening at 2000 West Walnut in Rogers.
Parkway paid Bank of America N.A. $545,000 for an existing building and land for the Rogers branch.
Crossland Construction Co. of Rogers completed a $229,000 renovation of the building, which includes a circular front similar to Parkway’s other branches.
Robert D. Berry Architects PA of Eureka Springs was the architect.
CEI Engineering & Associates of Bentonville was the engineer and Lockwood 2 Creations worked on interior design.
Parkway also owns about 1.5 acres of land on Pleasant Grove Road in Rogers and plans to build its fourth Benton County branch in 2007.
Gabby Starts Twin Springs
Leonard Gabbard and Donald Hillis, through their Gabby Hills Enterprises Inc. of Springdale entity, recently began site work on a subdivision that will be valued at $1.84 million upon completion.
Twin Springs Estates is situated on 40 acres about two miles north of Arkansas Highway 16 West on Double Springs Road in Fayetteville.
Phase I of the subdivision already is completed. It featured four homes, three of which have sold. Brian Middleton of The Griffin Co. Realtors is listing the 2,400-SF fourth house for $285,000.
Phase II includes 23 lots ranging in size from 0.76 acres to 2.34 acres. Each lot will list for $80,000.
Sidewalks will be on both sides of the street throughout most of the subdivision and street lights also are being installed.
Each lot already has been approved for septic systems for up to four-bedrooms homes.
Landtech Engineering Inc. of Springdale, which is owned by Gabbard and Hillis, is the engineer.
Brassard Brothers Construction of Bentonville, which also is a partner on the project, is handling the excavation work.
Bobby Stout and Anh Parker of The Griffin Company Realtors are the exclusive listing agents for the lots and have five letters-of-intent already signed.
The lots are scheduled for completion in February.
Metropolitan Buys on Wedington Drive
Little Rock-based Metropolitan National Bank paid WHM Land Investments Inc. $1.6 million for Tract 2 of the WHM Land Investments Inc. subdivision in west Fayetteville.
The one-acre parcel is at the southeast corner of the Wedington Drive/Rupple Road intersection.
It will be the site of a 3,500-SF building that is part of 12 Metropolitan National Bank branches being built in Northwest Arkansas.
CDI Contractors Inc. of Little Rock and Rogers will be the general contractor for the project, which has yet to break ground and is pending city approval.
McClelland Consulting Engineers Inc. of Fayetteville will be the engineer for the project.
Wittenberg Deloney & Davidson Inc. of Fayetteville will be the architect.
The 12 branches are part of Phase I of the bank’s expansion and will be completed in 2007. The bank also is planning a second phase that will take it into 2008 and 2009.
Rydejo Plaza Hits Hiwasse
Dan Moloney, through his Rydejo LLC entity, recently obtained a $1.39 million loan from ANB Financial N.A. of Bentonville to begin construction on a strip mall on Arkansas Highway 72 in Hiwasse.
Rydejo Plaza will have the capacity for 14 stores. The 5 acres the project is situated on is part of a larger purchase from the Horton family for an undisclosed amount.
Dan Moloney Construction is the general contractor for the 96,000-SF building.
Jim Mangold of Mangold Architecture & Construction Inc. of Rogers is the architect for the building, which features colored metal and brick exterior.
Northstar Engineering Consultants Inc. of Bentonville is the engineer.
Ten 576-SF spaces are available at $600 per month on a one-year lease agreement. There also are four 960-SF spaces available for $960 per month. Any of the spaces can be combined.
Sue Renfrey and Marnie Compton of Dan Moloney & Associates Real Estate are the primary leasing agents.
Moloney said three of his six companies, Rydejo Development, Unified Resources and the real estate company, will move into the building when it’s completed in February.
Early interest has come from a barber shop, a print/copy shop and an auto parts dealer for the remaining spaces.
Razorback Foundation, Ticket Office To Move
The University of Arkansas recently spent $1.3 million to move the Razorback Foundation and Ticket Office to a new location on Razorback Road on the northeast corner of Baum Stadium.
EWI Constructors Inc. of Fayetteville was the general contractor for the 9,800-SF building, which was completed in less than six months so staff could move in before Christmas.