Flintco Inc. Starts 21c Ascent with $14.9 Million Permit

The city of Bentonville recently issued a building permit to Flintco Inc. in Springdale valued at $14.9 million.

The permit will be used for the construction of a four-story, 98,487-SF development at 200 N.E. A St. just north of the downtown square near Lawrence Plaza.

The 21c Museum Hotel is expected to be complete by early 2013. The approximate total project cost is $30 million.

The property will include a hotel with 104 bedrooms, a 12,000-SF museum space and a 9,000-SF, 125-seat restaurant.

Flintco is the general contractor. Don Brick Excavating Inc. in Rogers is the earthwork subcontractor.

Deborah Berke & Partners Architects LLP in New York and Polk Stanley Wilcox Architects in Fayetteville are handling the design work.

Crafton Tull & Associates in Rogers is the civil engineer.

SCA Consulting Engineers in Houston is the structural engineer.

HP Engineering Inc. in Rogers is the mechanical engineer.

 

CDI Building Cabela’s

The city of Rogers recently issued a building permit to CDI Contractors LLC, headquartered in Little Rock, valued at $14 million.

The permit will be used to build a 106,762-SF Cabela’s near Interstate 540 next to Target.

Construction of the store at 2300 Promenade Blvd. is under way and should be finished by summer 2012.

CDI is the general contractor. Nabholz Construction Corp., headquartered in Conway, is handling the site work.

Callison LLC, headquartered in Seattle, Wash., is the project architect.

Cabela’s is a publicly traded outdoor supplies retailer.

The land for the development sold for $2.5 million in a recent transaction. Cabela’s Wholesale Inc. of Sidney, Neb., bought two parcels from Pinnacle South LLC totaling approximately 11 acres.

Pinnacle South is a partnership between Rogers Retail LLC and General Growth Properties of Chicago.

Rogers Retail is a partnership of Johnelle Hunt and Tim Graham, who are chairman and president, respectively, of Hunt Ventures.

 

Hotel Transaction

A 90-room hotel near Interstate 540 and Highway 72 in Bentonville is under new ownership after a $4.6 million sale.

Wally Hospitality Inc., led by Ravi Patel, purchased the Courtyard by Marriott at 1001 McClain Road, next to the River Grille Steakhouse.

The seller was Lodgian Hotels Fixed III LLC.

The 2.49-acre development appraised earlier this year for $5.07 million.

The three-story hotel was constructed in 1996 and contains 49,077 SF.

 

Preschool Development

DMF Construction Management Co. in Rockwall, Texas, recently purchased a building permit valued at $1.7 million.

The permit is for the construction of a single-story, 15,508-SF private preschool and learning facility at 4195 W. Persimmon St., just west of Owl Creek Elementary School on the west side of Fayetteville.

The project sits on approximately 2.2 acres. Construction is slated to be complete by the summer of 2012.

DMF is the general contractor.

Miller Boskus Lack Architects in Fayetteville is the architect. Jorgensen & Associates in Fayetteville is the civil engineer. Palmer Heating & Air Inc. in Fayetteville is the HVAC contractor.

Other subcontractors are Apple Concrete Construction in Springdale and Blades Landscaping Service LLC in Fayetteville.

 

Rural Acreage         

A 40-acre property in rural Washington County tipped the scales at $1.2 million.

David and Judith Drennan bought the Rock Springs Road acreage north of Lincoln.

The property was sold at auction through United Country Block Realty and Auction in Springdale. Melissa Dupree of Siloam Springs was the agent. The seller was Cody Riddle.

The transaction was funded with a $966,990 mortgage from Arvest Bank of Fayetteville.

The property includes a three-bedroom, 2,193-SF home built in 1964 and six broiler houses (each 43X500.)

 

Kum & Go Purchase

A Kum & Go convenience store development is in the works following a $1 million transaction.

KG Store 414 LLC of West Des Moines, Iowa, bought the property at the intersection of Highways 412 and 265 on the east side of Springdale.

It includes a former Dandy Spot-Not Car Wash and Phillips 66 gas station.

The seller was Dandy Oil Co. of Springdale.

Dandy assembled the property in two transactions in 1988 and 1992 totaling $425,000.

 

Razorback Road Property

A four-bedroom, 4,600-SF home on the northwest corner of the University of Arkansas campus sold for $800,000.

SBS Properties LLC, which lists Ben Schlegel Jr. as the registered agent, bought the Razorback Road property. Jeffrey and Lisa Gearhart were the sellers.

Jeffrey Gearhart is executive vice president, general counsel and corporate secretary for Wal-Mart Stores, Inc.

The transaction was funded with a $640,000 loan from Arvest Bank of Fayetteville.

The Gearharts paid $683,000 for the property in May 2009. Amenities include a wine cellar and swimming pool.

The home, with a view of Reynolds Razorback Stadium to the south, was constructed in 1951 and underwent remodeling in 2010.

The property appraised earlier this year for $474,150. It is adjacent to the Fowler House, the official residence of UA chancellor G. David Gearhart.

Submit tips about lease activity, construction, transactions or upcoming projects valued at $300,000 or more to Paul Gatling at [email protected].