Real Deals: Flintco building Bentonville’s 12th elementary school

by Paul Gatling (pgatling@nwabj.com) 596 views 

Flintco Inc. in Springdale is using a building permit valued at $16.2 million for a 20-acre project at 9649 W. Pleasant Grove Road in Rogers, southwest of the gated Scissortail neighborhood.

Bentonville School District is the land owner and developer. The project is a 75,393-square-foot elementary school. Flintco is the general contractor. Morrison Shipley of Bentonville is the site engineer. Hight Jackson Associates of Rogers is the designer.

Construction is scheduled to be complete in time for the start of the 2019-2020 school year. It will be Bentonville School District’s 12th elementary school.

Candlelight Claim
A 56-unit multifamily development in Fayetteville recently sold for $3.95 million. Alpha Farms LLC, managed by Maynard Anderson, bought the Candlelight Place Apartments at 1766-1790 N. Gregg Ave. in Fayetteville.

12M Multi-Family LLC of Sallisaw, Okla., led by businessman Raymond Merrill, was the seller. First State Bank of Russellville provided financing with a $2.72 million mortgage.

The apartments were built in 2003. 12M acquired the development in May 2015 for $3 million. Pat McGowan, through his Candlelight Place LLC, was the seller. McGowan bought the land, approximately 4 acres, in October 2001 for $185,000.

There are seven buildings in the complex, including an office. The one-bedroom units range from 620 to 660 square feet. The two-bedroom units range from 960 to 1,100 square feet. MadSky & Associates of Fayetteville is the property manager.

Walton Activity
A 5.79-acre residential property in close proximity to Crystal Bridges Museum of American Art in Bentonville has sold to a Walton-related entity for $3 million.

Dogwood Acres LLC bought the land and 1,560-square-foot residence on Northeast J Street, north of First Presbyterian Church of Bentonville. Peggy Griffith was the seller. Waco Title Co. of Springdale was the title agent.

Dogwood Acres is a Delaware-registered company affiliated with Walton Enterprises LLC, the holding company owned by heirs of Walmart Inc. founder Sam and Helen Walton.

Dogwood Acres has acquired two additional residential properties on Northeast J Street since November 2016, for a combined $3.75 million. A private residence situated on 7 acres is sandwiched between those properties. Further south on Northeast J Street toward the museum entrance, a 3-acre parcel owned by the Walton Family Foundation sits between the church and Scott Family Amazeum.

Dodson Road Property
Five commercial lots totaling 17.07 acres recently sold in Rogers for $2.98 million. The purchase price equals $4 per square foot.

Venture Park LLC, managed by Jeannie Fleeman, bought the property in the Myers Ranch addition, on South Dodson Road just south of Walmart Grocery Pickup. CJ Land Investments LLC, managed by Carroll Myer, was the seller. Bank of Arkansas in Fayetteville provided financing with a two-year loan of $2.9 million. City Title & Closing LLC of Fayetteville was the title agent.

Jacci Perry with Simplicity Real Estate Solutions represented the seller. David Erstine with CBRE in Fayetteville represented the buyer. He said development plans for the property are being finalized and will be announced within the next 60 days.

Mobile Home Development
A 53-unit mobile home park in Fayetteville has a new owner after a sale worth $1.68 million.

Stanley Holdings Group LLC of Sulphur, La., managed by Kris Hodges and Michael Hyatt, acquired the Country Lane Mobile Home Park, a 5.9-acre development at 201 E. Appleby Road. Gene Housley was the seller. City Title & Closing LLC of Fayetteville was the title agent.

Slim Chickens Development
SC Eagle 1 LLC, managed by Tom Gordon, recently picked up a five-year, $1.59 million construction loan from Springdale-based Legacy National Bank.

Gordon is co-founder and CEO of Fayetteville-based restaurant chain Slim Chickens. The loan is tied to a 0.98-acre lot in Bentonville at the southwest corner of Southeast Eagle Way and Southeast 14th Street, just off the northbound Interstate 49 exit across from NorthWest Arkansas Community College.

David Erstine with CBRE of Fayetteville represented the buyer and Randy Crossno with NAI Capstone of Rogers represented the seller. SC Eagle paid $624,000 for the lot ($14.62 per square foot) and will develop the site as a new Slim Chickens location.

BV Commons LLC, managed by Matt Sitton, was the previous land owner. Sitton’s eponymous commercial real estate development firm in Rogers acquired the land from Arvest Bank in December for $1.35 million. The deal, with a purchase price of $3.21 per square foot, involved eight parcels totaling 9.65 acres.

Clear Creek Sale
A 7,000-square-foot residence in Phase 3 of the Clear Creek neighborhood in Johnson recently sold for $1.08 million.

Tracy and Jane Duke bought the Prestwick Circle residence in the gated Blessings Golf Club community. Michael and Kristy Perrin were the sellers. Waco Title Co. of Springdale was the title agent. Mary Bassett and Mike Sims with Bassett Mix & Associates of Fayetteville were the listing agents and the selling agents.

The five-bedroom home was built in 2005 on a 0.58-acre lot. Perrin paid JEC Holdings LLC, led by John Ed Chambers III, $1.2 million for the property in April 2016. JEC acquired the residence in July 2018 for $1.65 million. Andrew Judkins was the seller.

Judkins, through his A. Camp Equipment LLC, bought the property in September 2006 for $1.48 million. McMahon Brothers Construction was the seller.
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Submit tips about lease activity, construction, transactions or upcoming projects valued at $300,000 or more to Paul Gatling at pgatling@nwabj.com. Please write “Real Deals” in the subject line.

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