Crossland Construction Building New Aldi Store on MLK

A Little Rock developer has taken ownership of a bank-owned storage facility in Fayetteville.

Henry Jordan Jr., through his Jordan Holdings LLC, paid Signature Bank of Arkansas in Fayetteville $2.4 million for the North Salem Self Storage facility at 3519 N. Salem Road.

The 517-unit facility on approximately eight acres was constructed in 2005.

 It had an occupancy rate of 52 percent at the time of the transaction.

The purchase was financed with a five-year, $2.4 million loan from Signature Bank.

Realty Title & Closing LLC of Springdale was the closing company.

 

Aldi Acquisition

Crossland Construction Co. of Rogers recently purchased a building permit valued at $1.2 million for the construction of an Aldi discount grocery store at 3214 W. Martin Luther King Blvd. in Fayetteville.

The address is near Stadium Center, a Mathias Shopping Center Inc. development.

Mathias sold the 1.77-acre tract west of Stadium Center and a Stadium Center outparcel to Aldi Inc. of Batavia, Ill., for $777,000.  The two parcels together form the new Aldi location on 2.73 acres.

Site work for the 18,000-SF building began in September. Crossland project manager Terry Traylor said construction is expected to be finished in early March.

David Narramore of Greenville, S.C., is the building architect. Bonds Excavating Enterprises Inc. of Rogers is doing the dirt work. Professional Air Systems LLC of Lowell is the HVAC subcontractor.

Other subs include King Electrical Contractors of Fayetteville, Reliable Fire Protection of North Little Rock and Town & Country Plumbing of Garfield.

When the new store opens in the spring, the Aldi location on East Appleby Road in Fayetteville will close.

Aldi also operates stores in Fort Smith, Springdale, Rogers, Siloam Springs and Harrison.

The privately owned company has close to 1,200 stores in 32 states.

 

Brittenum Builds in Blueberry

Brittenum Construction Co. of Fayetteville recently purchased eight building permits for the construction of single-family homes in the Blueberry Meadows subdivision in east Fayetteville.

The eight permits are valued at a combined $1.2 million.

The homes will be at 1229, 1247, 1275, 1315, 1337, 1353, 1379 and 1380 S. Blue Willow Ave., across Arkansas Highway 16 from Sequoyah Meadows.

Jon R. Brittenum Jr. is president of Brittenum Construction. He paid $40,000 for each lot. The seller was Baggett Properties LLC, led by Karry Baggett.

Five starts are already under way.

The homes range from 1,400 SF to 1,700 SF and the list prices will start at $95 per SF.

Aimee Duca of Exit Pro Realty in Rogers is the exclusive listing agent.

 

Besco Buy

A 2-acre supply company development in Lowell tipped the scales at $900,000.

Charles and Amanda Ragar, through their Ragar Holdings LLC, bought the 18,000-SF Besco Supply building at 606 S. Lincoln St.

The seller was 264 Leasing LLC, managed by Bart Hester and Tim Graham.

The deal is financed with a six-month loan of $992,028 from Arvest Bank of Fayetteville.

 

Pea Ridge Property

A farm and agricultural property in Pea Ridge changed hands in a $725,000 deal.

Jack and Irene Kelly, trustees of the Kelly Family Revocable Trust, sold the 47-acre property on East Pickens Road. The buyer was Kurt Otto.

BOKF of NA Bank of Arkansas provided the financing.

The property includes a 2,857-SF, two-story house with hardwood floors throughout. The home was built in 2003.

Keller Williams Realty NWA of Fayetteville listed the property. Dave Trowbridge represented the seller in the transaction.

 

Poultry Construction

Nabholz Construction Corp. in Rogers recently purchased a $400,000 building permit to lead an expansion project for the corporate offices of Rogers-based Customer Link LLC and its parent company, Ozark Mountain Poultry Inc.

Dr. Edward Fryar is the CEO of both entities.

Headquarters for OMP and Customer Link is 705 W. Easy St. in Rogers.

The renovation project is at a building  on an adjacent property at 1000 N. Second St., which currently houses OMP office space. Fryar owns the property, through his Easy Street Leasing LLC. It was acquired in November 2006 for $1.35 million.

Approximately 6,000 SF is being transformed from warehouse space to corporate facilities.

The renovation will add office space and a gourmet test kitchen, expand corporate welfare facilities and increase corporate security.

Mangold Burris Architecture of Rogers is handling the design work. Other subcontractors include Dyer Electric of Rogers, Mr. General Plumbing Services Inc. of Springdale, Johnson Mechanical Contractors Inc. of Fayetteville, CertaPro Painters of Fayetteville, Estes Wood Design Inc. of Bentonville, Concrete Solutions USA LLC of Springdale, Harness Roofing Inc. of Springdale and Deihl Enterprises Inc. of Bentonville.

 

KHBS/KHOG Sale

The former headquarters of KHBS/KHOG, Channel 40/29, the ABC affiliate for Northwest Arkansas, drew a sale of $256,000.

Fayetteville developer Mark Zweig, owner of Mark Zweig Inc., bought the 6,689-SF vacant office building at 15 N. Church St. in Fayetteville. The seller was Arkansas Argyle Television Inc.

The building was built in 1955. The affiliate, also with a newsroom in Fort Smith, moved its NWA newsroom from Fayetteville to Rogers in fall 2007.

Argyle acquired the half-acre property in June 1996 for $672,000. It last appraised in 2010 for $411,050.

Bob Hopmann of Lindsey & Associates in Fayetteville represented the seller in the transaction. Dale Carlton of Carlton Realty in Fayetteville represented the buyer.

Zweig plans to convert the building to a mixture of condominiums and office space.

The remainder of the lot runs west to North Locust Avenue and that space will be for residential use.

 

Serendipity Leases Space

A former restaurant building in downtown Rogers is now under a leasing agreement.

A group led by Lisa Rose has signed a lease for the 9,500-SF building at 117 W. Walnut St., formerly Belle Arti restaurant.

Joe Gargano and his wife, Penny, of Hot Springs, through their Belle Arti at 117 Walnut Street LLC, own the building. They paid Arvest Bank of Fayetteville $225,000 in February 2004.

The building appraised earlier this year for $672,100.

Serendipity Events, a wedding and events venue, is the new tenant. Rose also owns The White Dress Boutique in downtown Rogers and Creekwood Gardens, a wedding and events venue on East Prairie Creek Drive just off Arkansas Highway 12 in Rogers.

Hull and Co. Commercial Real Estate in Rogers was the listing agency for the property, and also represented the tenant in the transaction.

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