Real Deals: Nabholz leading 80,000-SF medical office building next to Arkansas Children’s in Springdale

by Paul Gatling ([email protected]) 2,089 views 

Conway-based Nabholz Corp. recently paid the city of Springdale for a commercial building permit valued at $14 million.

The company is using the permit to start the construction of an approximately 80,000-square-foot medical office building at 2575 S. Gene George Blvd.

The approximately 7-acre construction site is north of Arkansas Children’s Northwest along Gene George Boulevard (formerly South 56th Street). CCHWI LLC is the land owner. The limited liability company is owned by C.L. George and Sons LP, a partnership made up of George’s Inc. chairman Gary George and his sister, Cathy (George) Evans.

Matt Brown, vice president of real estate development and gas at George’s, said the family partnership will also own the five-story building, through the limited liability company.

Nabholz is the general contractor, Polk Stanley Wilcox is the architect and McClelland Consulting Engineers is the civil engineer. Those same firms also led the development of the children’s hospital.

“The new building will match the look and feel of the hospital,” Brown said.

The building will be called Center for Children’s Health & Wellness. Brown said there are ongoing negotiations with “a couple” of undisclosed anchor tenants.

Alan W. Cole and Brown, both with Colliers International in Rogers, will handle the building’s leasing. Construction is expected to be completed by the fall of 2021. Colliers will also be the property manager.

RESTAURANT SALE
A 3,030-square-foot retail property on 0.82 acres in Fort Smith changed hands recently for $4.75 million. The purchase price equals $1,567.65 per square foot.

Dallas-based real estate investment and fund management firm Capview Partners, through its NS Retail Holdings LLC bought the building at 7501 Rogers Ave. Armstrong Fort Smith LLC, organized by Dru Sedwick, was the seller. Sedwick is president and CEO of The Armstrong Group of Companies in Pennsylvania.

The single-story building opened in September 2019. Louisiana-based restaurant chain Raising Cane’s is the tenant and is operating on a 15-year, triple-net lease.

Bear Equities represented the buyer in the transaction. Mason Lewis, Alan W. Cole and Lee Strother of Colliers International Arkansas represented the seller.

MEDICAL CONSTRUCTION
PCBA Realty LLC has picked up a seven-year, $3.5 million funding agreement from Little Rock-based Encore Bank.

The mortgage is backing construction of a 12,000-square-foot medical clinic at the intersection of Southeast 30th Street and Northeast Mid-Cities Drive in Bentonville. The 1.74-acre site is just east of Southeast J Street.

Little Rock-based Pain Treatment Centers of America (PTCOA) owns PCBA. The company bought the land in August 2019 for $583,000. PLC Investments LLC was the seller.

Little Rock-based CBM Construction Co. is the general contractor for the construction project. Chris Bakunas, a project engineer with McClelland Consulting Engineers in Fayetteville, is the civil engineer. WD&D Architects in Little Rock is handling the design work.

PTCOA opened its first clinic in Little Rock in 2014 and now has eight throughout the state. One of them is in Bentonville, inside the Agility Center Orthopedics building at 1502 S.E. 28th St. The clinic will relocate to the new building when construction is complete.

DUGGAR DEAL
A renovated estate in Springdale came off the market recently in a deal worth $1.53 million.

WA Thurman Family LLC bought the 2.73-acre property in southern Benton County on Callahan Mountain Road. Jim Bob and Michelle Duggar, through their James R. Duggar and Michelle A. Duggar Revocable Trust, were the sellers.

Tom Joseph with Weichert, Realtors-The Griffin Co. was the listing agent. Anthony Smith with United Country NWA Home & Farm Realty represented the buyer.

City Title & Closing of Fayetteville was the title agent.

The Duggars bought the home in October 2016 for $310,000. Originally built in 1969, the 9,240-square-foot residence was inspired by Frank Lloyd Wright’s famed “round house.” After extensive renovations, the Duggars originally listed the two-story property for $1.8 million in 2019.

HISSOM HOME
A 5,864-square-foot residence in east Fayetteville’s Waterford Estates at Hissom Ranch neighborhood rang up a sale worth $1.35 million. The purchase price equals $230.21 per square foot.

Kendal and Sarah Briles bought the two-story home on Riverfront Lane from Jon and Laura Tuggle.

Arvest Bank backed the deal with a 30-year loan worth $1.21 million.

Tuggle bought the 1-acre lot in August 2013 for $40,000. C Holdings LLC was the seller. The home was built in 2016.

PEA RIDGE PROPERTY
Two deals totaling 37.68 acres in Pea Ridge recently closed for a combined $1.1 million. The purchase price equals $0.67 per square foot.

Winter Park Partners LLC, led by Tom Seay of Bentonville, bought the land southwest of the intersection of Highways 72 and 94, east of Ryan Road. Lester and Barbara Hall, as trustees of the Hall Revocable Trust, were the sellers.

Arvest Bank provided financing with a 30-month loan of $2.28 million. Waco Title Co. of Springdale was the title agent.

PINNACLE ABODE
A 5,569-square-foot residence inside the gated Pinnacle Country Club neighborhood in Rogers sold recently for $880,000. The purchase price equals $158.01 per square foot.

Matthew and Angela Kincade bought the five-bedroom home on West Nottingham Lane. George and Monica Diaz were the sellers.

Arvest Bank provided financing with a 30-year loan worth $510,400. Waco Title Co. in Springdale was the title agent.

Ginger Harrell with Coldwell Banker Harris McHaney Faucette in Rogers was the listing agent. Scott Waymire with Berkshire Hathaway Homeservices Solutions in Bentonville represented the buyer.

The two-story home was built in 2006 and appraised in 2018 for $834,700. Diaz bought the home and 0.49-acre lot in October 2013 from Blake and Kim Evans for $775,000. Evans acquired the property in October 2011 from Scott and Amy Williams for $735,000. Williams bought the home in September 2006 from Five Star Development Corp. for $890,000. Five Star bought the lot from Tallchamps LLC in October 2005 for $116,000.

DOWNTOWN SPRINGDALE
Two commercial buildings totaling approximately 7,000 square feet recently sold for $730,000. The purchase price equals $104.28 per square foot.

Holcomb Arts District LLC, managed by Paul Esterer, bought the buildings at 302 and 326 Holcomb St. Holcomb St. LLC, whose members include Keaton Smith and Daniel Hintz, was the seller.

Waco Title Co. of Springdale was the title agent. First Security Bank in Springdale provided financing.

The office buildings are on 0.63 acres in a qualified opportunity zone.

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