Benham Banks On Air Base

The Lowell office of Oklahoma City-based The Benham Companies Inc. will provide the architecture and landscape architecture services for the new 26,000-SF Arkansas National Guard facility at the Ebbing Air National Guard base outside of Fort Smith.
The base serves as home to the 188th Fighter Wing. The $4.8 million aerospace vehicle and maintenance facility will provide support and equipment maintenance to all aircraft on the airfield’s flight line. The general contractor bid hasn’t been awarded yet.
Benham teamed up with Cromwell Architects Engineers of Little Rock and won the competition for the Guard’s Indefinite Delivery Indefinite Quantity (IDIQ) contract in January.
The IDIQ or “on call,” five-year contract includes design and engineering services for both vertical construction, such as aircraft hangars, fire stations and dining halls, and horizontal construction, such as roadways and airfield pavements.
Benham will be acting as a subcontractor to Cromwell, but the firms will divide up the state work as it comes. Benham will carry the load in Fort Smith where Ebbing also hopes to have $14 million in new construction during the next two years.
About 60 percent of Benham’s contracts are for military construction. The $6 million operations center already under construction at Ebbing was designed by Benham under its old IDIQ contract that ran from 1998 to 2003. It will be finished this October. Jack Helms of Fort Smith is the general contractor. Benham will serve as the architect and engineer for both projects. The company specializes in structural, mechanical, electrical and civil interior engineering, and landscape architecture and design.

Rausch Coleman Cashes in on Homes
Rausch Coleman Homes NWA LLC, of which Brad Wells is a managing member, bought 20 building permits on Feb. 17 valued at a combined $2.2 million to build homes in Centerton’s Bliss Orchard subdivision. Rausch is the general contractor and owner of the homes. Homes in Bliss range from 1,700-1,800 SF and will sell from $140,000-$150,000. Lots average 0.25 acres. The homes will have architectural shingles, brick exteriors, whirlpool tubs, tile flooring and crown molding.
Don Waters of Waters Real Estate in Bentonville is the listing agent and developer of the 26-lot, 8.3-acre subdivision. William Platts, of W.R. Consulting in Bentonville, drew the plat. First Federal Bank of Bentonville financed the site work. Coleman bought the 20 lots from Waters for $1.05 million in January. First National Bank of Fort Smith financed that purchase.
Rausch Coleman also bought 100 lots from Sienna Estates LLC for $3 million in February. Bank of the Ozarks financed that purchase.
John David Lindsey is the principal member of Sienna. Homes in Sienna will sell from $138,000-$155,000. Lots at Sienna will range from 0.22-0.27 acres and will have homes ranging from 1,500-1,700 SF. There are 25 different floor plans for the homes.
Janice James of Lindsey & Associates is the listing agent for the subdivision.

Freewill Determined To Complete Addition
Faith Freewill Baptist Church purchased a building permit on Feb. 26 valued at $860,716 to build a new 9,473-SF church at 161 Casteel Lane in Springdale. Faith Freewill will act as the general contractor for the church, which will face west on the congregation’s existing 2.5 acres.
Sand Creek Engineering & Landscape Architecture Inc. did the engineering.
Once the new church is completed, the existing structure, located at 2105 East Emma Ave., will be demolished and used for parking space. Faith Freewill was built in 1962 by Dave Casteel.
Rev. Jerry Henshaw said the new church will triple the size of the existing 3,000-SF facility that seats 125 people. The new space will seat between 250-300 and will have seven larger classrooms, a secretary room and a pastor’s study in addition to a larger stage space.
The church is financing the construction, which should begin within a month.

Deep Stream Flows into Springs

Deep Stream LLC recently began construction on two homes valued at a combined $620,000 in the Hidden Springs subdivision in Bentonville. Deep Stream, of which Dennis Vinciguerra and Ray Bornhoft are partners, started construction on four other lots in January. The lots are 0.25 acres and the homes are 2,900-3,000 SF.
The one-story, four-bedroom homes will feature three-car garages, security systems, custom oak cabinets, hardwood floors and crown moldings.
Neil Albright of ARISE Engineering in Bentonville was the engineer. Tom Hopper of Rogers is the developer of Hidden Springs. Deep Stream purchased the six lots for $65,000 each.
Great Southern Bank of Springfield is financing the construction.

Tanglewood Tangos Into St. Valery Downs
Tanglewood Builders of Springdale, owned by John Tidwell, recently secured a $516,000 mortgage through First Western Bank of Rogers to build more homes in Cave Spring’s upscale equestrian subdivision St. Valery Downs. Tidwell has four more lots under contract with Lehman Properties of Rogers that should close in the next 30 days.
Tidwell already owns five lots — 12, 40 and 72-74 — where three homes are under construction. Work on a fourth, 4,600-SF home on lot 44 will start in the next few weeks.
His lots range from 0.90 acres to 1.5 acres and the homes range from 4,200- 5,500 SF. They will sell from $600,000 to $750,000. Lot 74 is under construction and will be in the Northwest Arkansas Home Builders Association Parade of Homes in June.
Tidwell’s homes at St. Valery will have 100 percent masonry exteriors, architectural shingles, fully sodded yards, oversized garages, stainless steel professional appliances, and will be networked and wired for multimedia capabilities. First Western Bank of Rogers is financing all of Tidwells construction. Tidwell bought the five lots from Lehman in November at a price range of $78,000-$92,000.
John Lehman and Arnold “Tuffy” Lehman of Lehman Properties are the developers of the 120-acre, 81-lot St. Valery Downs.

M.P. Seizes Ozark Opportunity

M.P. Construction of Springdale bought a building permit on March 2 to build a 7,000-SF office building in the Ozark Business Park in Springdale. The building, with a permit value of $493,560, is located at 777 Mathias Drive.
The 46-lot, 70-acre warehouse and office space development is located behind Ozark Center Point Place about two blocks west of Interstate 540. About 3,000 SF of the new building has been pre-leased. Mathias Properties is the management entity and leasing agent for the space that will lease for a base price of $10 per SF.
Ken Shaner of Rogers is the architect. Keystone Consultants Inc. of Springdale is the engineer. Mathias Shopping Centers Inc. is the owner of M.P. Construction and Mathias Properties.
Sam Mathias is the principal of Mathias Shopping Centers. Regions Bank is the financier.

Landslide Slides Into Siloam Springs

Landslide Development LLC of Bentonville will be on the agenda for the next Siloam Springs City Council meeting on April 13.
Jason Pullman and Terry Wilson of Bentonville are partners in Landslide. Landslide purchased a 1.18-acre outlot from Wal-Mart Stores Inc. in 2003 for $278,000 and has plans for 9,000-SF of retail space just east of the Arkansas Highway 16 and U.S. Highway 412 intersection in Siloam.
Regions Bank of Rogers financed the purchase. CEI Engineering Associates Inc. of Bentonville is the civil engineer, and Crafton Tull & Associates of Rogers was the structural engineer and architect. About 2,500-SF of space will be Tortillas, a fast casual Mexican restaurant that Landslide will own. Another Tortillas is already under construction at Crossroads retail center off of Walton Boulevard in Bentonville. A sandwich shop will occupy 2,000-SF of space. The remaining space will lease from $12 to $16 per SF.

Washington County Mortgage Reports

Lender — Value — % Share — Chambers Bank — $18.52 — 14.9%
First Federal Bank of Arkansas — $15.47 — 12.5%

Keybank National Association — $10.95 — 8.8%

Arvest Mortgage — $10.23 — 8.2%

Arvest Bank-Fayetteville — $9.08 — 7.3%

Bank of Fayetteville — $7.52 — 6.1%

First Security Bank — $7.46 — 6.0%

Arkansas National Bank — $7.09 — 5.7%

Bank of America — $6.58 — 5.3%

Community Bank — $5.78 — 5.3%

First State Bank of Fayetteville — $5.01 — 4.0%

Arvest Bank-Springdale — $4.90 — 3.9%

Arvest Bank-Prairie Grove — $4.40 — 3.5%

United Bank — $3.78 — 3.0%

Simmons First Bank NWA — $2.77 — 2.2%

Wells Fargo Home Mortgage — $2.37 — 1.9%

First State Bank Of Huntsville — $2.15 — 1.7%

Total — $124.06

February

Lender — Value — % Share
Morgan Stanley Mortgage Capital Inc. — $254.00 — 43.47%

First Security Bank — $87.51 — 14.98%

Regions Bank — $65.40 — 11.19%

Arvest Bank Siloam — $25.65 — 4.39%

Southtrust Bank — $21.11 — 3.61%

Arvest Mortgage — $14.66 — 2.51%

First Federal Bank of Arkansas — $11.96 — 2.05%

Liberty Bank of Arkansas — $11.90 — 2.04%

First State Bank of Fayetteville — $11.47 — 1.96%

Arkansas National Bank — $10.83 — 1.85%

Community Bank — $9.98 — 1.71%

Arvest Bank-Springdale — $9.36 — 1.60%

Arvest Bank-Fayetteville — $8.65 — 1.48%

Bank of Fayetteville — $8.10 — 1.39%

United Bank — $6.77 — 1.16%

Simmons First Bank NWA — $4.23 — 0.72%

Bank of America — $3.76 — 0.64%

Arvest Bank-Prairie Grove — $3.40 — 0.58%

Arvest Bank Rogers — $3.25 — 0.56%

Wells Fargo Home Mortgage — $2.88 — 0.49%

Chambers Bank — $2.57 — 0.44%

Bank of Arkansas — $2.53 — 0.43%

* Includes only financial institutions with more than $2 million in lending.

Source: WACO Title Co.

Benton County Mortgage Reports

January

Lender — Value — % Share
Arvest Mortgage Company — $18.47 — 11.32%

Bank of Rogers — $17.95 — 11.00%

Arkansas National Bank — $14.28 — 8.75%

Arvest Bank-Rogers — $13.34 — 8.18%

Regions Bank — $11.73 — 7.19%

Arvest Bank-Bentonville — $9.69 — 5.94%

Bank of America — $8.69 — 5.33%

First Federal Bank of Arkansas — $8.65 — 5.30%

Chambers Bancshares Inc. — $8.20 — 5.03%

Wells Fargo Home Mortgage — $6.86 — 4.20%

Community Bank of North Arkansas — $6.36 — 3.90%

First Security Bank — $4.99 — 3.06%

Bank of Gravett — $4.48 — 2.75%

First National Bank of Fort Smith — $3.80 — 2.33%

Arvest Bank-Fayetteville — $3.58 — 2.19%

United Bank — $2.98 — 1.83%

First Western Bank — $2.81 — 1.72%

U.S. Bank — $2.68 — 1.64%

Arvest Bank-Pea Ridge — $2.47 — 1.51%

Countrywide Home Loans Inc. — $2.37 — 1.45%

Great Southern Bank — $2.26 — 1.38%

Bank of Oklahoma — $2.25 — 1.38%

Arvest Bank-Siloam Springs — $2.16 — 1.32%

Chase Manhattan Mortgage Corp. — $2.13 — 1.31%

Total: — $163.18

February

Lender — Value — % Share
Regions Bank — $76.40 — 31.7%

Bank of America — $28.54 — 11.9%

Arkansas National Bank — $23.32 — 9.7%

Arvest Mortgage Company — $16.52 — 6.9%

Simmons First National Bank — $10.19 — 4.2%

Arvest Bank-Bentonville — $10.11 — 4.2%

First Security Bank — $8.26 — 3.4%

Arvest Bank-Rogers — $6.66 — 2.8%

Great Southern Bank — $6.55 — 2.7%

Bank of Gravett — $5.98 — 2.5%

Wells Fargo Home Mortgage — $5.31 — 2.2%

First National Bank of Fort Smith — $5.05 — 2.1%

First Western Bank — $4.75 — 2.0%

First Federal Bank of Arkansas — $4.14 — 1.7%

Bank of Oklahoma — $3.48 — 1.4%

Bank of Rogers — $2.91 — 1.2%

United Bank — $2.90 — 1.2%

Arvest Bank-Siloam Springs — $2.89 — 1.2%

Arvest Bank-Fayetteville — $2.81 — 1.2%

First Western Mortgage — $2.73 — 1.1%

First State Bank of Fayetteville — $2.47 — 1.0%

Community Bank of North Arkansas — $2.33 — 1.0%

Simmons First Bank NWA — $2.15 — 0.9%

Decatur State Bank — $2.11 — 0.9%

First Security Bank of Mountain Home — $2.11 — 0.9%

Total: — $240.67
* Includes only financial institutions with more than $2 million in lending.

Source: WACO Title Co.