Real Deals: Arkansas Children’s signs lease for Springdale expansion

Northwest Arkansas

by Paul Gatling ([email protected]) October 26, 2020 12:05 pm 2,606 views 

Conway-based Nabholz Construction Corp. recently paid the city of Springdale for a commercial building permit valued at $2.18 million.

Nabholz is using the permit for a buildout of the fifth floor of an approximately 80,000-square-foot medical office building under construction 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).

Arkansas Children’s Northwest will be the tenant of the fifth floor, which totals about 17,500 square feet. Trisha Montague, senior vice president and administrator for Arkansas Children’s Northwest, said the hospital’s primary care clinic will relocate to the fifth floor of the new building.

“This gives us an opportunity to expand that clinic and take the next step to meet the needs of this growing community,” Montague said. “We’re pretty excited about it, and it’s a great opportunity for us.”

Montague said the relocation will initially increase the primacy care clinic’s number of exam rooms from 10 to 14.

The five-story building is called Center for Children’s Health & Wellness. 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 three of the building’s five floors are now leased. He did not identify additional tenants.

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

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.

FITNESS SALE
A vacant fitness center in Springdale has a new owner after a recent sale worth $1.95 million.

Jason Coates Enterprises LLC bought the 21,208-square-foot building at 866 S. 48th St. west of Interstate 49. The purchase price equals $91.94 per square foot.

G&C Family LLC, managed by Gerald Johnston, was the seller. Crusader Fitness was the most recent tenant.

Cornerstone Bank of Eureka Springs backed the deal with a 20-year loan of $1.44 million. Realty Title & Closing Services of Rogers was the title agent. Randy Crossno with NAI Capstone of Rogers was the listing agent. Katie Hampton with Colliers International Arkansas in Rogers represented the buyer.

Coates is the owner/operator of Springdale-based The After School Program. Coates plans to repurpose the two-story building and relocate the child care service provider’s administrative offices and all-day programs.

DOGWOOD DEAL
A 4-acre property in Bentonville near the entrance to Crystal Bridges Museum of America Art sold recently to a Walton-related entity for $1.66 million. The purchase price equals $9.56 per square foot.

This aerial photo shows a 4-acre property on Northeast J Street in Bentonville that changed hands recently for $1.66 million. The purchase price equals $9.56 per square foot.

Dogwood Acres LLC bought the property at 1100 N.E. J St. from Octopus Messaging Inc., led by Heather Wegner.

Wade Smith with Colliers International Arkansas was the listing agent and Michael Driver with Driver Real Estate Group represented the buyer.

The property is zoned A-1 (Agriculture). CoolWag, a dog day care and boarding facility, is the current tenant.

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 assembled several pieces of property along Northeast J Street in the past three years.

BEAVER LAKE HOME
A 4,000-square-foot custom lakefront home on Beaver Lake in Garfield sold recently for $1.15 million. The purchase price equals $287.50 per square foot.

Whit Holdings LLC of Missouri bought the 1.9-acre property on Indian Bluff Road. The Straube Family Trust, led by Michael and Carol Straube, was the seller.

Tricia Necessary with RE/MAX Real Estate Results was the listing agent. Christopher Erstine with Weichert, Realtors-The Griffin Co. represented the buyer. Waco Title Co. was the title agent.

The three-bedroom home was built in 2000. The property includes a private two-slip boat dock.

Straube paid $35,000 for the land in 1993.