Real Deals: JE Dunn starts Arvest Bank data center on Dodson Road

by Paul Gatling ( 626 views 

JE Dunn Construction Group of Kansas City, Mo., recently paid the city of Rogers for a building permit valued at $4.48 million.

The permit is being used to build an approximately 15,000-square-foot office building at 1848 S. Dodson Road, north of West Stoney Brook Road. The owner is Fayetteville-chartered Arvest Bank, which will use the building as a data center. Arvest paid $1.51 million for the 20.1-acre site ($1.72 per square foot) in December. Suzanne Yates Rich was the seller.

The building is expected to be completed by in the first quarter of 2018 and will employ about 30 people.

• Apartment Acquisition
A property management company headquartered in Texas has acquired a multifamily development east of downtown Springdale for $2.75 million. C&W Ventures Management Co. of Midland, through its C&W Cheema Village Apartments LLC, bought the Cheema Village Apartments at 1907 E. Emma Ave.

Double L Investments of Booneville LLC, led by Aaron Littlefield III, was the seller.
CBRE Capital Markets provided financing with a 10-year loan of $2.2 million.
First National Title Co. in Fayetteville was the title agent.

The development was built in 2005. It includes 13 two-story buildings and a combined 55 units, each of them about 1,000 square feet. Double L bought the 4.77-acre development in April 2013 for $2.02 million. The former Summit Bank of Arkadelphia was the seller.

• Buffington Buy
In two separate deals, Fayetteville-based home builder Buffington Homes of Arkansas recently paid $2.15 million for 47.93 acres on Bright Road in southwest Bentonville. The purchase price equals a combined $1.03 per square foot.

Buffington, led by Clay Carlton and Mike Lamberth, purchased 39.9 acres from the Bentonville School District for $1.6 million ($0.92 per square foot) and 8.03 acres from Donna Ensign for $550,000 ($1.57 per square foot).

Paragould-based First National Bank provided financing with a mortgage of $1.82 million. First National Title Co. of Fayetteville was the title agent for both deals. The property is directly across Bright Road from Bright Field Middle School.

• Versaille Sale
New residential construction in Centerton’s Versaille subdivision has a new owner after a sale worth $705,000.

Roger and Alicia Schultheis bought the 4,646-square-foot residence from Centerton home builder JSN Properties of Northwest Arkansas LLC, led by owner Jeremy Neisler. Fayetteville-chartered Arvest Bank provided financing with a 30-year loan of $500,000. Ken Lazenby of NWA Residential Real Estate Co. was the listing agent.

The four-bedroom home was built on a wooded, 1-acre lot and features a reclaimed brick exterior. JSN Properties bought the lot in April 2016 for $75,000. N&J Family Properties LLC, led by Norm Banwarth, was the seller.

• South Street Cottages
A 1,404-square-foot residence in south Fayetteville’s new South Street Cottages walkable community recently sold for $299,900. The purchase price equals $214 per square foot.

Devin and Alex Howland bought the East South Street home from Flintlock Development LLC, led by Alex Quinlan. Waco Title Co. of Springdale was the title agent. Clark Partners Realty Team with Keller Williams Market Pro Realty of Fayetteville was the listing agent. Sarah Bunch, also with Keller Williams, was the selling agent.

South Street Cottages was designed by Quinlan and built by Legend Builders Inc. of Fayetteville, led by Roger Griffin. Quinlan, through her Fayetteville-based firm Flintlock Architecture & Landscape acquired the land in April 2016, paying $350,000 for multiple parcels totaling 1.4 acres. Arvest Bank provided financing.