Expansion ‘Felts’ Good, but Complications Arise
by July 26, 1999 12:00 am 71 views
Gary R. and Karen E. Felts took out a $476,475 mortgage with Arkansas National Bank April 28 to expand their A-1 Storages at 1200 Moberly Lane in Bentonville.
They plan to use the property, tract B-1 of the city’s Alexander Addition, to add climate-controlled storage and office facilities. The Feltses have not yet determined how sizable the expansion will be, or whether they will actually be able to complete it, because of complications with the four-laning of Moberly Lane.
Wal-Mart Stores Inc. of Bentonville recently bought the empty 102,000-SF Alcoa/Alumax plant on Moberly Lane, which listed at $7 million.
Previously, 94,000 SF of the plant was used for manufacturing, 7,000 SF was used for office space and 1,000 SF was left for break and conference room areas.
Wal-Mart agreed to split the cost of four-laning narrow Moberly Lane with the city of Bentonville, but the city has since told small developers like the Feltses they would need to pay for the street’s widening along areas where they are expanding.