New Subdivision Comes to Rogers

Sierra R.E. LLC is in the planning stages of a new, $9 million development in Rogers. Dan Dykema, Rick McCullough and Mark Marquess are partners in the company. The 73-acre parcel of land purchased for the 300-lot subdivision off Bellview Road is still under contract.

Sierra hopes to close on the purchase from Bobby and Lois Brown within the next 60 days. Sierra expects to break ground on the development in the next two to three months. Lots will average 0.20 acres in size and sell for $160,000-$200,000. The developers are still in negotiation with several different contractors. Great Southern Bank of Springfield, Mo., will finance the project.

The total value of the two- to three-phase development when built out is expected to be $50 million.

Commerce Plaza Lands More Space

Commerce Plaza LLC is building a 20,000-SF retail/office facility in Bentonville’s 20-acre Westpark Square office development. Sellers Properties Inc. is the general contractor for the $2.3 million building at the corner of Southwest “I” Street and Southwest Westpark Drive in Bentonville.

Robert Berry of Eureka Springs is the architect, and Sand Creek Engineering & Landscape Architecture Inc. of Bentonville is the engineer. Commerce Plaza, which is managing the property, has not yet leased any of the building.

All but four of the development’s lots have been purchased. First National Bank of Springdale has funded the development.

Rainbow Holdings Adds to Complex

Haynes & Frisco LLC recently began construction on a 20,000-SF office building valued at $2.1 million in Bentonville’s Business Centre development. Smithers Construction of San Antonio is the general contractor for the facility located at 3401 S.E. Macy Road. The new office space is part of a 14-lot complex on the north and east sides of Walton Boulevard in the area known as Rainbow Curve.

Collins Haynes is the architect on the project. Community Bank of Northwest Arkansas financed the $455,000 purchase of the land from Rainbow Holdings II LLC, a partnership consisting of Jeff Smithers, Haynes, Chris Compton, Bill Schwyhart and others.

Plans at Business Centre allow for up to 230,000 SF of office space with additional retail space available on the 32 acres.

Lots will range from 0.85 to 3.8 acres, and the buildings will be sold for $5 to $10 per SF. So far, the holding company has two lots under contract and one sold lot. The firm has negotiated with a restaurant chain interested in the property, which is in close proximity to the Clarion Hotel & Conference Center.

Joshua Kyles of Hull & Co. is leasing space at the development.

Barling Boys Building Houses In Heritage East

Wells-Bieker Development LLC of Barling recently purchased 29 building permits at a combined value of $2.1 million to build homes in Fayetteville’s Heritage East subdivision. The houses will be on South Nelson Drive and South Sherman Avenue in Phase II of the development.

Wells-Bieker is the general contractor and developer for this phase of 40 lots that will have 1,100-1,398 SF homes and will be priced $93,000-$110,000. The company engineered the project in house. There was no general architect.

About half of the lots have been sold and range from 0.13-0.25 acres. Wells-Bieker bought the 40 lots in February 2003 from Palmco Properties LLC for $766,000. First National Bank of Fort Smith financed the purchase.

Rubbermaid Digs Completed in Bentonville

Newell Rubbermaid Inc., the publicly traded, Alpharetta, Ga., conglomerate, has been in its new Wal-Mart support location for several months now. The building is leased from Joseph Hudack of AMJO Development LLC in Bentonville to Rubbermaid through Warburg Real Estate Investments Inc. of Delaware. Located at 1000 S.W. 14th St., the property was developed by AMJO and is situated on lot 3 of the Westpark Square office complex.

Commerce Plaza LLC is the developer of Westpark. The 23,714-SF building is valued at $1.8 million, according to public records.

Paul C. Parks Engineering of Fayetteville was the lead engineer on the project, and Timothy Duffy of Rogers was the architect. Sellers Properties Inc. of Springdale was the general contractor. AMJO purchased the land from Commerce for $300,000 in May 2002.

Arkansas National Bank of Bentonville financed the new construction.

Rooms ‘Spring’ Up in Fayetteville

Charles Sloan & Associates Inc. recently began construction on a 13,788-SF apartment building at 306 W. Spring St. in Fayetteville.

Sloan is the general contractor and developer for the $703,000 structure that is expected to be completed in late November. Leasing for Mullins Apartments will begin in December.

Tatum Structural Engineering of Rogers is the lead engineer and, Robert Sharp Architect of Fayetteville is the architect. Several banks contributed financing.

Bank of Rogers Opens in Centerton

Construction continues on the new Bank of Centerton building at 350 E. Centerton Blvd.

The 2,700-SF bank is expected to be complete in early August. Crossland Construction is the general contractor and designer of the $526,800 project. Crafton Tull & Associates drew the original architectural and engineering plans but is no longer involved. Bank of Centerton will operate as an autonomous branch of Bank of Rogers, which also will own the building.

The bank bought the three-acre lot from Bruce Coonfield, owner of Bruce’s Country-Mart in Centerton for $110,000 in June of 2002. BOR Bancshares Inc. financed that acquisition.

The new bank is in close proximity to the new 100-acre Siena subdivision that is currently under construction. The drive-through window service will be located in the front of the bank instead of the rear, making the design unique in Centerton.

Simpson Adds Homes to Yorktown

Larry E. Simpson Construction Co. of Fayetteville recently bought building permits at a combined value of $440,000 to build homes in Yorktown Square subdivision. The homes, located at 3407 N. Breckenridge Drive and 3402 N. Breckenridge Drive, will both be 3,601 SF.

Lots at Yorktown range from 0.25-0.28 acres. Homes are 2800-3650 SF and will price from $280,000-$350,000. There are a total of 27 lots in the third and final phase of the north Fayetteville development located south of the Commerce Park office complex.

Wade Bishop of Fayetteville is the developer of Yorktown.