Real estate veteran invests in west Springdale, area proving popular for development

Timing is often everything in the commercial real estate sector, a lesson investor and developer Brett Hash knows all too well. Hash is in the midst of finishing up Casalini Court, his latest commercial project which is located west of Springdale at 1032 Henri De Tontitown Blvd. 

The 12,620-square-foot retail shopping center features space for six or seven businesses which Hash said will likely include several national retail chains/franchises who have expressed interest leasing the space. Hash said cost estimates for the project is around $2.5 million.

“It’s a great time to invest in the western Springdale (and the) Tontitown area. More than 40,000 cars and trucks drive by this location daily and that’s only expected to grow with the new Sam’s Club and Arkansas Children’s Hospital planned along this western corridor in the next two years,” Hash said.

He’s owned the property which stretches to the corner and Maestri Road since 2006 but said the recent and ongoing infrastructure improvements to open up access on the west side of Springdale and stronger economy was all it took to pull the trigger on this new investment.

“I sold some of the land behind this development for the Orscheln’s Farm & Home store (at 211 N. Maestri Rd.) and the corner lot which is now Iron Hand Liquor and Dominos Pizza. This configuration of Casalini Court will allow for a patio area at one end and a drive-through window at the other end. We will begin finishing out the space in early 2016 as we nail down the leases,” Hash said.

Casalini Court was named for Casalini, Italy, the town Tontitown founders hailed from when they settled in Washington County more than 100 years ago, according to Hash. He said Tontitown and Springdale city planners have supportive of this project.

Having been a real estate developer and investor in the area since 1999, Hash said he’s seen his share of winners and losers, but he’s confident in the timing of this project and several other residential developments in the works.

“We are one of the fastest growing metros in the country, our jobless rate is very low. The recent news of the J.B. Hunt expansion and 1,000 new jobs and Tyson’s investments in downtown Springdale, the growth of the University of Arkansas and the Arkansas’ Children’ Hospital investment here are proof that our local economy can support more investment,” Hash said.

Springdale Mayor Doug Sprouse recently told Talk Business & Politics that Springdale is playing catch up in the region. He said investments of the Walton Family, Tyson Foods and The George Family along with many others have been the catalyst needed to fuel the city’s development fire, particularly the west side of town.

NorthWest Arkansas Community College also has planted a stake in west Springdale for a new Washington County campus. More recently, philanthropist and J.B. Hunt co-founder Johnelle Hunt gave a $5 million matching grant for a new nature center near Lake Springdale on the northwest edge of the city.

Sprouse said the city’s effort to widen 56th street from Don Tyson Parkway to U.S. 412 was designed to help open west side access for more retail and business development. The cost of the road work is $15 million which is slated for completion by mid 2016.

The Casalini Court investment was financed by Signature Bank, whose bankers are also optimistic about the growth in the region. Signature Bank CEO Gary Head said Northwest Arkansas has ample growth opportunities despite more regulatory hurdles to clear. He said the bank continues to look for commercial loans that help spur more regional growth.