Downtown Springdale will add to its list of food and beverage offerings later this year.
Bentonville-based Bike Rack Brewing Co. is planning to open its third location in a 3,000-square-foot building at 205 E. Johnson Ave., two blocks east of the Razorback Regional Greenway. Bike Rack also has Bentonville locations at 410 S.W. A St. and its main brewery and tasting room that opened last year in the 8th Street Market culinary hub.
The Johnson Avenue building was purchased for $192,500 in February by a real estate partnership led by Bike Rack co-founder Jeff Charlson, Paul Esterer and Daniel Hintz.
Hintz, founder and CEO of The Velocity Group, and Esterer, president of Little Rock-based Moses Tucker Partners’ Northwest Arkansas division, are developers of the project.
After a building renovation, Esterer said the Bike Rack tasting room should be open later this spring. He said the opening of the greenway and the implementation in 2015 of the city’s Downtown Master Plan are driving development dollars to the city.
“Recent investments and the implementation successes provided by multiple entities, including Downtown Springdale Alliance and Springdale Chamber of Commerce, indicate a groundswell of momentum for the revitalization of downtown Springdale,” Esterer said. “With updated market projections indicating a future demand for housing, retail, office space, and public amenities, the vision outlined in the master plan for in a vibrant, walkable, mixed-use downtown environment seems even more possible than ever.”
Red 5 Construction of Bentonville will be the contractor for the building renovation and Bates & Associates Architects in Rogers is the designer. IberiaBank is provided financing.
Esterer and David Erstine with CBRE in Fayetteville brokered the sale of the building. Cox Communications was the previous owner.