Real Deals: C.R. Crawford leading hotel construction project in Bentonville

by Paul Gatling ([email protected]) 3,681 views 

The city of Bentonville recently issued a building permit valued at $14.6 million to C.R. Crawford Construction of Fayetteville. The permit is being used to build a 119-room Home2 Suites by Hilton at 3100 S.E. East Pointe Ave.

The 2.44-acre site is near the southeast corner of the Interstate 49/Arkansas Highway 102 intersection, near NorthWest Arkansas Community College.

A construction loan worth $9.77 million from Searcy-based First Security Bank is backing construction. John Sanford Architects of Tulsa, Okla., is the building designer.

Krushiker Hospitality Group Inc. (KHG) of Springdale, led by Narendra Krushiker, is the developer. KHG, through its Bentonville Lodging Group LLC, paid $889,000 for the land in August 2018. The purchase equaled $8 per square foot. BV Commons LLC, led by Rogers developer Matt Sitton, was the seller.

Sitton acquired the land from Arvest Bank in December 2017 for $1.35 million. The deal, with a purchase price of $3.21 per square foot, involved eight parcels totaling 9.65 acres.

A 5,550-square-foot residence inside a gated neighborhood on Beaver Lake is off the market following a recent sale worth $2.35 million.

Two Dogs Investment Holdings LLC, registered to Springdale attorney Denton Woods, bought the four-bedroom property on Castleberry Way from Michael and Gisel Ruiz.

City Title & Closing of Fayetteville was the title agent. Keller Williams Market Pro Realty in Bentonville was the listing agency.

Ruiz bought the 0.44-acre lot in 2013 for $319,000. Cotswold Partners LLC was the seller. The residence was built 2016.

A 24-unit apartment complex in Fayetteville sold recently for $1.32 million. The purchase price equals $55,000 per unit.

6th & B LLC, whose members include Henry Jordan Jr., bought the Rasberry Place Apartments development at 2182 N. Leverett Ave. MOR LLC was the seller.

Partners Bank in Helena backed the deal with a seven-year loan of $1.32 million. Waco Title Co. of Springdale was the title agent.

NWA Wired LLC, managed by Alan and Crystal Stall and John and Joyce Winter, recently secured a five-year loan worth $1 million through James Brookhart of Arvest Bank.

The financing will support construction of a 546-square-foot commercial building at the southwest corner of Southwest Regional Airport Boulevard and Southwest Eden Brooke Street in Bentonville. Scooter’s Coffee will be the tenant.

NWA Wired bought the 0.82-acre lot for $435,000. The purchase price equals $12.18 per square foot. Bella Terra LLC, whose members include J.R. Meeks, was the seller.

A 10,500-square-foot industrial property in Springdale changed hands in a deal worth $735,000. The purchase price equals $70 per square foot.

Omni Equity Group LLC, whose members include Gene Housley and Mark Sutherland Jr., bought the 0.7-acre warehouse property at 3046 N. Thompson St. M&H Investments LLC, whose members include Jamie Myers, was the seller.

First Bank Kansas backed the deal with a $588,000 loan. Ethan Tisdale and Brennan Sharpe with Steve Fineberg & Associates of Bentonville were the listing agents. City Title & Closing in Fayetteville was the title agent.

The single-story building was built in 2002. It’s an income-producing property with a 9% cap rate. QDI Surfaces is the tenant.

A 3,849-square-foot residence in Phase IX of the gated Shadow Valley neighborhood in Rogers recently sold for $687,000. The purchase price equals $178.48 per square foot.

Barry Lunney Jr. and his wife, Janelle Lunney, sold the property on South Inglewood Road to Vanessa Gibson. Arvest Bank provided financing and Realty Title & Closing Services was the title agent.

Lunney bought the 0.39-acre lot in May 2016 for $79,000. C.R. Reaves Family LP was the seller.

A 3,550-square-foot residence in Fayetteville’s Gaddy Acres neighborhood changed hands recently for $658,000.

Eric and Claudine Specking bought the 1.33-acre property on North Starr Drive from David and Jana Mix.

Arvest Bank backed the deal with a 30-year loan of $510,000. Waco Title Co. of Springdale was the title agent. Bassett Mix & Associates Inc. was the listing agency.

Mix paid $269,000 for the four-bedroom property in March 2013. Molly Giles was the seller. Giles paid $240,000 for the home in March 2001. Dale and Wilnita Holland were the sellers.

The property underwent a complete remodel in 2016.

A 4,264-square-foot residence in Centerton’s Oak Tree neighborhood has a new owner after a recent sale worth $615,000. The purchase price equals $144.23 per square foot.

Jeff and Kimberly Evans bought the residence on Oak Tree Drive from Noah Johnson and Jennifer Seidner.

Ohio-based Union Home Mortgage Corp. backed the deal with a 30-year loan of $492,000. Waco Title Co. of Springdale was the title agent. Coldwell Banker Harris McHaney Faucette was the listing agency.

The home was built in 2012. Johnson and Seidner paid $606,000 for the property in December 2012. Tall Oaks Construction was the seller.

A 6,620-square-foot commercial building in Siloam Springs is now tenant-owned following a $260,000 transaction. The purchase price equals $39.27 per square foot.

CBTR Outdoors LLC, led by Chris Brosh and Tim Robinson, bought the building at 101 S. Broadway St. The city of Siloam Springs was the seller.

A five-year, $443,200 loan backed the deal, arranged by James Brookhart at Arvest Bank.

Brosh and Robinson are co-owners of Bentonville-based retail business Phat Tire Bike Shop. The business is the retail tenant of the Broadway Street building.