Country Club Plaza Nearing Construction
by February 2, 2015 12:00 am 155 views
Construction is nearing on a planned Class A office and retail development near the front gate of Pinnacle Country Club in Rogers.
Investors of the state’s largest commercial real estate firm, Colliers International, recently paid a combined $2.57 million for two tracts totaling 7.82 acres at the southwest corner of the roundabout on Pauline Whitaker Parkway.
Jason LaFrance of Little Rock, through his STAMJA-DT Pinnacle Properties LLC, was the seller of the property which LaFrance purchased in 2014.
Two construction loans from First Federal Bank of Harrison totaling $19.25 million backed the transaction.
Colliers is the leasing firm for the development, known as Country Club Plaza, a three-building project totaling 122,000 SF.
An 88,000-SF, three-story corporate office building and a 22,000-SF, single-story retail center will, evidently, be the first buildings to come out of the ground.
The office building, we understand, is already 57 percent pre-leased, including 46,000 SF to a single tenant. The retail center has tenant commitments for about half the space.
Butch Gurganus, Alan Cole and Ramsay Ball are leading Colliers’ leasing efforts.
The development team includes Miller Boskus Lack Architects of Fayetteville, Crafton Tull of Rogers and Little Rock-based contractor VCC.
A 12,000-SF, single-story office building is also planned for the property, but that construction is not imminent.