Cooper Crosses Creek Phase (Real Deals)

Developer Cooper Homes Inc., the home-building subsidiary of Cooper Communities Inc. of Rogers, has begun construction on a 131-acre development in southwest Rogers called Cross Creek.

The project, with a build-out value of $90 million, will be developed in four phases over three or four years, Cooper Homes Inc. estimated.

The first phase is 60 lots. Construction has already begun on 20 of those homes. The houses will be built by approved builders Austin Homes Inc., Cooper Homes, J.V. Custom Homes Inc., McMahon Brothers Custom Homes, A Five Star Property/Jeff Mortenson and Sands Construction. The homes will be a minimum of 2,200-SF and will sell from $275,000-$500,000.

The Benham Companies Inc. engineered the plat of the subdivision, which will include nature/fitness trails, a sports activity field, a swimming pool, picnic pavilion and children’s play area. Cooper would not disclose a specific bank financier because they have several.

Pro Con Pads South Walton

Pro Con Inc. of Bentonville recently bought four building permits valued at a combined $3.2 million to build four 10,000-SF buildings off S.E. “B” Street in the South Walton Plaza business park in Bentonville.

Richard Werts of Bella Vista, Bob Burckart of Bentonville and Ted Fox of Bentonville are partners in Pro Con. Morrison Shipley Engineers of Lowell is the engineer. Mangold Construction and Architecture in Rogers is the architect.

Space in the new buildings will lease from $13.50 to $15 per SF per year.

Regions Bank of Springdale is financing the construction. Pro Con began construction on a 6,600-SF building in April. There are 12 buildings completed in South Walton Plaza that make up a total of 100,000 SF. Burckart said there is an additional 250,000-SF left to build out in the remaining 23 lots of 40 in the development.

Pro Con is also building a park for tenant use that should be finished in September. It will feature a professional putting green, tennis courts, a walking track, picnic tables, a gazebo and an indoor fitness center that will offer facial massage and back adjustment services to tenants.

Clinard Clinks In Cottonwood

Clinard Construction Management Inc. of Bentonville will soon begin construction on a 9,000-SF building valued at $1.1 million in Bentonville’s Cottonwood Village development.

Located at 2407 S.E. Cottonwood Drive, the building will be a custom-designed engineering office for Morrison Shipley Engineers of Lowell. It sits on a 0.7-acre lot.

MS Ventures LLC, a partnership among several Morrison Shipley employees, is the developer. Don Spann Architect A.I.A. of Rogers is the architect, and Morrison Shipley is the site and civil engineer. Myers Engineering of Van Buren is the structural engineer. The office will be wired with network capabilities to link to Morrison Shipley’s office in Fort Smith. Arvest-Fort Smith is financing the construction.

Whitt Properties LLC of Fort Smith is the developer of the 43-acre Cottonwood subdivision. Seven of the 28 lots, ranging from 0.5 to 8 acres and selling from $6.50 per SF, have sold. About 110,000 SF of the 600,000 SF has been completed and another 28,000 SF is under construction.

Paramount Partners Also In Cottonwood

Deec Inc. of Bentonville recently started construction on a 9,000-SF office building valued at $1.1 million that is also in the Cottonwood subdivision in Bentonville. Paramount Partnership I, of which Damon Wright and David Gean of Fort Smith are principals, is the developer. The building will be slightly different in configuration to the Shipley project.

Don Spann Architect A.I.A. of Rogers is the architect, and Morrison Shipley is the site and civil engineer. Myers Engineering of Van Buren is the structural engineer. BancorpSouth of Fort Smith is financing the construction.

About 3,700-SF of the building is already pre-leased to an undisclosed client. The remaining space will lease from $13 to $14 per SF per year.

The Cottonwood property is the first commercial development for Paramount. Wright was the developer of the 16-lot Canopy Meadows subdivision in Fort Smith and has plans for a 15-lot residential subdivision off Pack Lane in Rogers, pending the closing of the sale of the five-acre tract planned for the subdivision.

Massey Molds Retail Center

Massey Holdings has started construction on a 12,000-SF retail center located at 1377 N. Thompson Ave. in Springdale.

The building, valued at $941,398 is being developed by Mitchell Massey, who owns Massey Holdings.

Engineering Design Associates of Springdale is the engineer, and Tim Cooper Architect of Fayetteville is the architect.

The building is 50 percent pre-leased and should be complete in about two months. Massey is leasing the space from $8 to $10 per SF per year.

Allen Builds Four Duplexes

Allen Construction Co. of Rogers recently bought four building permits valued at a combined $844,288 to build investment property in Rogers’ Allen subdivision on North Allen Drive off 11th Street. All of the duplex units will sell for a total of $3 million.

Randy Allen and Gary Allen, owners of Allen Construction Co. are the developers. Northstar Engineering of Bentonville engineered the plat for the one-acre development.

Allen will build eight 1,600-SF, two-story units in four buildings. The units will each have three bedrooms and a garage.

Bank of Rogers in Rogers is financing the construction.

Puttkamer Adds To Shadow Valley

Vance Puttkamer Homes Inc. of Rogers recently bought four building permits valued at a combined $692,308 to build homes in phase four of the Shadow Valley subdivision in Rogers. Arvest-Rogers is financing the construction. Charles Reaves is the developer of subdivision.

The “speculative” homes will range from 2,500 to 3,000-SF and sell from $299,500. The four-bedroom homes will include full-landscaping, fencing, sprinkler systems, two-car garages and will be pre-wired for security and stereo systems.

They will feature hardwood floors, crown moldings, granite countertops and faux-finishing in the dining rooms and bathrooms.

There are 338 lots in phases one through three in Shadow Valley and 123 lots in phases four through six.

Site work on the last three phases began in late 2003. All but phase six, which should be complete in August, are ready for home construction. APAC-Arkansas/ McClinton Anchor Division of Fayetteville is doing the site work.