JAT Constructs Riverwalk Homes (Real Deals)

by Talk Business & Politics ([email protected]) 150 views 

Matt Nichols of NC Nichols Construction LLC has applied for 43 residential building permits in Bentonville totaling more than $8 million since July 16.

Nichols is serving as the general contractor for JAT Builders.

The homes, which sit on about 0.2 acres, are located in the Riverwalk Farm and Laurynwood Subdivisions and range in size from 1,635 -2,155 SF.

Jason Thomas of JAT Builders said each home is pre-sold to homeowners or investors for $115 per SF.

The homes include granite countertops, tumble marble backsplashes, designer colors, cabinets and hardware, vaulted ceilings, oversized closets, 10-foot ceilings in bathrooms and closets and fully landscaped yards.

Steve’s Plumbing of Rogers is the plumbing sub-contractor for the homes and David Quye is completing the design engineering work.

The properties are located on Silverbark Road, Tanglewood Avenue, Laurynwood Street, S.W. Briar Creek Avenue, Gumleaf Road, Oakleigh Road, Featherstone Road, Waterleaf Road, Wargate Avenue, S.W. Fernwood Avenue and Brompton Street.

New Partners Buy E.J. Ball

John Nock, Richard Alexander, Ted Belden and Hank Broyles, through their Ball Plaza Holdings LLC, recently purchased E.J. Ball Plaza from Growth Group Building LLC for $6.3 million.

The 54,910-SF, seven-story building is located at 112 W. Center St. in Fayetteville.

Renovations that Growth Group had started will continue, including a plan to replace all of the structure’s external glass with energy efficient green-tinted glass of the type used at the Fayetteville Town Center, Nock said.

The building’s heating and air systems were updated, and the plumbing capacity was increased, with the aim of bringing in a restaurant.

Signature Bank of Arkansas provided financing for the purchase. Heritage Title Co. of Fayetteville closed the sale.

Growth Group had invested about $785,000 in renovations so far, and the total remodeling budget will likely come in at about $1.5 million.

All of the common areas in the building are also being updated. The project should be finished in about six months.

Elder Sells Town Units

Wendell Jacobson, registered agent of Blue Jay Apartments LLC, recently purchased multiple units of the Meadow View Townhomes in Kerrington Ridge in Johnson for $5.17 million from Elder Construction, through its Elder-Meadowview Townhomes LLC.

Jacobson is president of Management Solutions Inc., a multifamily-residence management company in Fountain Green, Utah.

Blue Jay Apartments purchased units 1A-1F, 2A-2C, 3A-3F, 4B-4E, 5B-5E, 6B-6F, 7A-7C, 7E-7F, 8A-8E, 9A-9B, 9D, 11B-11D, 11F and 12D-12E.

Kerry Elder of Elder Construction said Blue Jay Apartments purchased a majority of the units in the complex but no changes to the townhomes will take place. Elder Realty Group will continue to list all townhomes in the development.

Bailey Buys Car Buffers 

Bailey Properties of Little Rock, through its Bailey’s Tunnel Wash LLC, purchased two existing carwashes in Washington County on Aug.  8.

Bailey’s Tunnel Wash purchased a Boomerang Carwash located at 3107 W. Wedington Dr. in Fayetteville from Fayetteville Wedington Road Carwash LLC for $2.25 million.

Bailey’s Tunnel Wash purchased a second Boomerang Carwash, located at 1112 S. Thompson in Springdale, from Thompson Street Carwash Springdale LLC, for $2.25 million.

Arkansas Carwash Development of Little Rock owns both Wedington Road Carwash LLC and Thompson Street Carwash Springdale LLC. Arkansas Carwash Development now operates under the name Drive Clean LLC.

Bailey Properties would not comment on the sale.

NWA ENT Builds MetroPark Clinic

Clinard Construction Management Inc. of Bentonville recently bought a building permit valued at $1.15 million for medical offices in Rogers.

Dr. Randall W. Black and Dr. John R. Lee, through their NWA ENT Properties LLC, are building the offices.

NWA Ear, Nose & Throat, located at 5204 W. Redbud St. on lot 10 in MetroPark, sits on 0.95 acres. The brick building will be 9,000 SF and is scheduled for completion in December.

Black and Lee bought the lot in 2006 from Collins Haynes, of MetroPark South LLC, for $525,000.

Waco Title Inc. closed on the sale.

Simmons First National Bank provided financing.

Core Architects Inc. of Rogers was the project architect. Sand Creek Engineering and Landscape Architecture Inc. of Bentonville handled civil engineering, and Tatum-Smith Engineers Inc. of Rogers was the structural engineer.

Geary Engineering PA of Rogers handled the mechanical, electrical and plumbing work.

Whorton Buys Brentwood Lots

Jeff Whorton, through his WCII, WC III, WC IV and WC V LPs, purchased 49 lots in the Brentwood Subdivision from Cherokee Development, through its Cavern Springs Development LLC, for a total of $2.25 million on July 30.

Through the transaction Whorton acquired lots 1-8, 11-13 25-29, 39-40, 47-55, 76, 83-84, 93, 98-100, 102, 160, 162-173 and 182.

Whorton Construction will serve as the general contractor for homes and Kirk Miller of Whorton Real Estate will be the listing agent for the homes.

The homes will range in size from 1,700 SF to 2,000 SF. The final list price for the homes will be between $170,000 and $220,000.

The subdivision will be fully landscaped and will include a pool and pool house, park and playground equipment.

Whorton Construction has already broken ground on about 20 of the homes and plans to have 10 to 15 homes completed by the middle of October.

The first 50 homes in the subdivision are set to be complete by February.

The Brentwood Subdivision is located on Highway 264 in Cave Springs, about 2.5 miles from Interstate 540 and three miles from the Northwest Arkansas Regional Airport.

Sitton Buys Legacy Condo

Mike Sitton, through his Sitton Properties LLC of Tulsa, purchased the deed for Unit 503 of the Legacy Building, owned by Brandon Barber, through his Lynnkohn LLC.

Sitton Properties paid $518,000 for the condominium on July 24.

A representative from Sitton’s office said the condominium was purchased for personal use.

Shack Set After Sassafras Sale

Restaurateur Andy Hague of KGA LLC purchased the former Sassafras Restaurant, located at 708 N. College Ave. in Fayetteville, from Steven Bryan Jenkins of TSS Jenkins LLC for $510,000.

Nickle Hill Rodman & Trumbo Inc. represented both parties.

Jenkins purchased the building in October 2003 for $430,000.

Hague has begun renovation and redesign work on the 5,800-SF building and will be handling the general contract work himself.

He plans to add an outdoor bar and children’s play area to the existing 2,000-SF outdoor deck.

Simmons First Bank of Northwest Arkansas financed the project and ProLand Title closed on the sale.

Hague said the restaurant will be renamed Lu Lu’s Fish Shack and will be open around the first of October.