Andrade Buys Springdale Strip Center from Elsass

Northwest Arkansas

by Talk Business & Politics ([email protected]) November 15, 2010 12:00 am 71 views 

Wallace L. Andrade Sr. of Lincoln, through his Andrade Trust, recently purchased the Casa Villa Shopping Center at 5204 S. Thompson Street in Springdale.

Andrade paid Kirk Elsass and the Kirk Elsass Trust $950,000 for the 8,330-SF building.

The strip center was built in 1982. It last appraised for $457,850.

 

Milestone Finishes HuHot Mongolian

Sirius Hospitality LLC of Columbia, Mo. recently purchased a building permit valued at $421,000 to finish out a space at 637 E. Joyce Blvd. in Fayetteville. The spot is the former home of the Shogun Japanese Steakhouse.

The 5,275-SF space will become home to a HuHot Mongolian Grill.

Milestone Costruction Co. of Springdale is the general contractor on the project. Key Architecture Inc. of Fayetteville is the architect.

HDI Contractors of Harrison are performing the mechanical work.

HuHot’s is a “create-your-own” stir-fry concept that requires the franchisees to have $1.5 million in net worth, liquid assets of $500,000 and the ability to finance another $300,000 to $500,000.

The restaurant will have seating for about 175 people and is slated for a mid-January opening.

 

ARC Starts Four Specs

Allen Walker, Ralph Walker and Carl Walker, through their business, ARC Construction & Development Inc. of Centerton, recently purchased four building permits valued at a combined $502,866.

The permits are for construction of spec single-family homes in the Bellview subdivision in Rogers. The subdivision is adjacent to Bellview Street and south of Pleasant Grove Road.

The homes are located at 3609, 3607, 3701 and 3703 Amour Drive. They will list between $149,900 and $159,900 and will be between 1,600 SF and 1,710 SF.

The lots are 0.16 acre each and recently appraised for $15,000 each.

Amenities will include full brick with rock exteriors, tile floors in wet areas, granite countertops, stainless steel appliances, crown molding, 2-inch faux wood blinds, fireplaces, whirlpool bathtubs and separate tiled showers and fully sodded lawns.

Sean Morris of Walker & Associates Realtors Inc. of Centerton will be the exclusive listing agent.

The group is offering $3,500 in closing costs.  

Submit tips about lease activity, construction, transactions or upcoming projects valued at $300,000 or more to Worth Sparkman at [email protected]. Please write ‘Real Deals’ in the subject line.