Real Deals: $9.29M permit backs Preformed project in downtown Rogers
Nabholz Construction Corp. in Rogers recently paid the city of Rogers for two commercial building permits with a combined valuation of $9.29 million.
Nabholz is using the permits to expand a manufacturing plant at 2740 S. First St. Cleveland-based Preformed Line Products Co. (PLP) is the owner.
The expansion will add 25% capacity to PLP’s 325,800-square-foot facility, adding 26,040 square feet of manufacturing space and 56,844 square feet of warehouse space. The existing plant has 22,800 square feet of office space, 95,968 of warehouse space and 207,032 of manufacturing space.
Crafton Tull in Rogers is the site engineer.
A 2.3-acre commercial development in Fort Smith changed hands recently for $5.05 million.
Cabaness Family Investments LLC, managed by Cliff Cabaness, bought the One McClure Place development at 8101 McClure Drive. McClure Office Park LLC, managed by Rod Coleman, was the seller.
Searcy-based First Security Bank financed the deal. Bob Cooper Jr. with Ghan & Cooper Commercial Properties brokered the deal.
One McClure Place includes three Class A office buildings each with 6,000 square feet. They are all 100% occupied. The purchase price equals $280.55 per square foot.
A $2.02 million land purchase in Siloam Springs is kicking off an Oklahoma convenience store chain’s expansion into Arkansas. Enid, Okla.-based Jiffy Trip bought 7.03 acres from multiple landowners at the northwest corner of U.S. Highway 412 and Arkansas Highway 59, south of an Atwoods retail store under construction. Rabb Investment Holdings LP, managed by Baker Rabb, Dogwood Park LLC, led by William Jackson Butt II, and Lynch Butler were the sellers.
City Title & Closing of Fayetteville was the title agent. First Oklahoma Bank of Jenks is financing development with a 10-year, $6.5 million loan.
Privately held Jiffy Trip has 26 Oklahoma locations. According to planning documents, the Siloam Springs store will be 6,700 square feet, including the company’s proprietary quick service restaurant, JT’s Restaurant.
Hammer William Co., Jiffy Trip’s parent company, is the developer.
A 17,300-square-foot commercial building in Fayetteville sold recently for $1.45 million. The purchase price equals $83.81 per square foot.
Daugherty Commercial LLC, led by Jason Daugherty, bought the building at 682 Leroy Pond Ave. Howard International Ministries, led by Dexter and Genette Howard, was the seller.
Pine Bluff-based Simmons Bank backed the deal with a three-year, $1.16 million loan. Jason Keeling with Steve Fineberg & Associates in Bentonville represented the seller. Bob Daugherty with Legend Realty in Farmington represented the buyer. City Title & Closing was the title agent.
Restoration Church NWA is the building’s tenant. The church is leasing the building for a few months until finding a new location.
ELM SPRINGS LAND
A Georgia-based car wash chain recently completed a $1.37 million land purchase.
Tidal Wave Auto Spa, through its TWAS Properties LLC, bought a 1.58-acre lot along southbound Interstate 49 at the Elm Springs Road exit. 48th & Elm Springs LLC, managed by Joseph Jarratt, was the seller.
Clinton Bennett with Bennett Commercial Real Estate in Rogers represented the seller.
Tidal Wave Auto Spa had 63 locations in nine states at the end of 2020. The Springdale location will be the company’s first in Arkansas.
Real Deals submissions: Submit tips about lease activity, construction, transactions or upcoming projects valued at $300,000 or more to Paul Gatling at [email protected]. Please write ‘Real Deals’ in the subject line.