Texas-based Pavecon Ltd., a concrete and asphalt paving company, has completed the construction of a new headquarters for its Northwest Arkansas regional office.
The approximately 10,000-square-foot building is on South Main Street in Cave Springs. CDI Contractors was the general contractor, using a building permit valued at $1.8 million. Burris Architecture in Bentonville handled the design work. Private financing backed the construction.
Ben Shankle leads the company’s Northwest Arkansas office. He said the building will be the anchor of a 45-acre mixed-use commercial development envisioned to include approximately 20 buildings. Shankle said they will be marketed to commercial office/warehouse tenants.
P4 Partners Ltd., the real estate holding company of Pavecon’s regional office, paid $450,000 for the bank-owned land in 2012. It’s situated on the east side of Arkansas Highway 112, approximately 1 mile south of Highway 112/264 intersection.
“At that time, I had a vision for this property,” Shankle said. “It took us a few years to get to, but we are taking some major steps this year towards realizing that dream.”
Shankle said Rogers engineering firm Crafton Tull of Rogers is working to allocate 15 acres for a multiphase self-storage facility with approximately 700 units. It will be a combination of climate-controlled, drive-up and recreational vehicle (RV)/boat storage. Wil-Shar Steel of Rogers is also nearing steel erection for two additional buildings, each approximately 12,000 square feet.
Shankle opened Pavecon’s regional office in Bentonville with six employees in February 2011. The company now employs more than 135 people in Northwest Arkansas. Shankle declined to disclose specific revenue figures, but he said the Northwest Arkansas division is producing revenue comparable to other Pavecon divisions in Dallas, Houston and San Antonio.