Nabholz Construction Corp. in Rogers recently paid the city of Lowell for a building permit valued at $21.51 million. The permit is being used to build a 132,883-square-foot office building at 224 J.B. Hunt Corporate Drive in Lowell. The construction site is east of the corporate headquarters of J.B. Hunt Transport Services Inc.
J.B. Hunt is the land owner and developer of the four-story building, called J.B. Hunt Technology Building. Nabholz is the general contractor. Miller Boskus Lack Architects of Fayetteville is the architect. CEI Engineering Associates Inc. of Bentonville, Robbins Engineering Consultants of Little Rock and Mountain Mechanical Contractors Inc. of Fayetteville are also working on the project. J.B. Hunt has declined to comment on the scope of the project.
For comparison, the company’s new building that opened last year along Interstate 49 is four stories and 144,000 square feet. The carrier’s corporate headquarters now includes more than 494,000 square feet.
Hudson Road Land
Louis and Shannon Froud have picked up a six-month mortgage of $1.84 million from First Community Bank of Batesville. The commercial construction loan is tied to a 3.1-acre commercial lot at 3501 W. Hudson Road in Rogers. The Frouds paid $575,000 ($4.26 per square foot) for the land in December. The Danny and Kathryn Morey Joint Revocable Trust was the seller.
The Frouds development plans for the property include construction of three office/warehouse buildings. Two of the buildings are approximately 9,600 square feet, and the third is approximately 11,200 square feet.
Matt Ahart with Keller Williams Market Pro Realty is handling the leasing efforts.
A 11,335-square-foot office building in Bentonville’s South Walton Plaza development has sold for $1.25 million. The purchase price equals $110.68 per square foot.
Richip LLC, managed by Rick Hood and Burton Stacy Jr., bought the building at 2307 S.E. B St. Haizen Investments LLC, led by Patrick Byrd, was the seller. City Title & Closing LLC of Fayetteville was the title agent.
The single-story building was built in 2008 and appraised in 2016 for $1.12 million. Haizen acquired the building and one other last August. The two buildings totaled a combined 28,695 square feet and sold for a combined $3.3 million. The purchase price equaled $115 per square foot.
Best Joy Project
Nabholz Construction in Rogers recently paid the city of Bentonville for a building permit valued at $1.1 million. The permit is being used to build a two-story, 7,000-square-foot office building at 3005 S.E. J St. Best Joy LLC is the developer.
Burris Architecture of Bentonville is handling the design work. AWJ Electric of Springdale is also working on the project.
Best Joy acquired the 0.98-acre site in January 2017 for $330,000, which equals $7.73 per square foot. JCCL LLC, whose members include LJ McHaney Jr. and Lewis Yarborough, was the seller.
Highland Knolls Office
John Craig Construction of Rogers recently paid the city of Rogers for a building permit valued at $1.1 million. The permit is being used to build a three-building office complex at 4801 Highland Knolls Road, at the intersection of South Pinnacle Hills Parkway. The project is called Highland Knolls Offices. Each single-story building will be 7,980 square feet for a total of 23,940 square feet.
Highland Knolls Development LLC, led by John Carney, is the developer. BlackLine Electric Inc. of Pea Ridge is one of the subcontractors. Highland Knolls paid $580,000 for the 2.48-acre site this past September. The purchase price equals $5.36 per square foot. Rogers First Church of the Nazarene was the seller.
Old Missouri Property
A land sale just north of Joyce Boulevard in Fayetteville tipped the scales at $1 million. Ramah Sue Slone, trustee of the Ramah Sue Slone Lifetime Asset Trust, paid $0.78 per square foot for 29.46 acres east of Old Missouri Road.
Stephen C. Rudko, through his Try-Works Ltd. entity, was the seller. Fayetteville-chartered Arvest Bank financed the deal with a five-year loan of $1 million. City Title & Closing LLC of Fayetteville was the title agent.
Structures on property include a 3,221-square-foot custom home built in 1996 that needs significant repair, a shop and a barn.
Butterfield Coach Sale
A 2-acre industrial development in Springdale has a new owner after a recent sale worth $585,000. Arkansas Granite & Marble LLC, led by Armando Carrillo, bought the 12,000-square-foot office/warehouse building at 505 Butterfield Coach Road. Carrillo’s eponymous company is now headquartered at 1916 W. Sunset Ave.
Huddle Club Venture LLC, led by Jacci Perry Ryan, was the seller. Searcy-based First Security Bank provided financing. Realty Title & Closing Services LLC was the title agent.
The building is tenant occupied and used for storage, but Carrillo’s company is expected to move in by August.
Editor’s note: 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.