Benchmark Begins ?Green? Building (Real Deals)

The Benchmark Group of Rogers has broken ground on a four-story office project that could lead the way for the first “green” office building in Rogers.
The project is located at 1805 North 2nd St. and a building permit valued at $14 million has been bought for the 118,000-SF structure.
Benchmark, an architectural and engineering firm, designed the building and also will have its office located there when construction is completed in 2008.
Arvest Bank is financing the project.
Nabholz Construction Corp. of Rogers is serving as the general contractor.
The facility is the first in Rogers registered under LEED guidelines (leadership in energy and environmental design). Buildings receiving LEED certification must meet certain energy-efficiency and environmental-friendly requirements.
It is one of only eight projects in Benton and Washington Counties that are either LEED certified or registered.

GOE Completes Peaks Purchase
GOE Condos LLC of Fayetteville recently completed the purchase of 32 condominiums at The Peaks in Rogers from Noonan LLC of Fayetteville.
Loans totaling $10.1 million from Chambers Bank of Danville have been obtained by GOE in relation to the condominium purchase and the purchase of some nearby property that is zoned as commercial and multi-family land.
There are eight condominiums in each of the four buildings included in the deal. Each building is 15,744 SF.
Currently, 29 of the condominiums have been leased or sold. Each leases for $1,250 per month and the average sale price is $250,000.
Chris Mitchel with Dallas Real Estate Services in Rogers is listing the property.
Amenities include maintenance-free living, hardwood and tiled flooring, granite counter tops, interior and exterior speakers, stainless steel appliances and custom cabinets and wood blinds.
GOE also plans to have a pool built on the property before the start of the summer.
Members of GOE were not made available. Noonan is comprised of CB Ventures LLC, H2 Holdings LLC, Caddyshack LLC and the John Green Revocable Trust Investment Group LLC.
Members of CB Ventures include Robert T. Smith, Barber Properties LLC and John Chambers while H2 Holdings is headed by Collins and Hunter Haynes. Michael Britt and Aaron Osborne are listed as members of Caddyshack. Brandon Barber is the managing partner of Barber Properties.

Elders Building Avignon Court
Avignon Court LLC of Springdale, which is comprised of Chris and Kerri Elder, has started construction on a condominium project in Rogers that will be valued at $8.84 million upon completion.
Located on North 24th St., Avignon Court will include 61 townhouse style condominiums.
The Great Southern Bank loan production office in Rogers is financing the project.
Each condo will be 1,350 SF and will be priced under $145,000. Each will be two bedrooms with 2.5 baths and have a single-car garage. All appliances and a blind system also will be supplied.
The condominiums feature a French-country stone brick exterior. There also will be an organized property owner’s association and yard maintenance will be provided.
The Elders are donating 5 acres of the project to the City of Rogers Parks and Recreation department for extension of the city’s park and trail system.
Elder Construction Co. of Little Rock is serving as the general contractor.
Miller Boskus Lack Architects PA of Springdale and CEI Engineering Associates Inc. of Bentonville are working on the project.
The project is scheduled for completion in the fall.

Siloam Set for New Subdivision
James Mathias of Centerton has started construction on a subdivision in Siloam Springs that will be valued at $5.9 million upon completion.
First State Bank in Fayetteville is financing the project.
Located on N. Mount Olive St., Autumn Glen will include 196 lots on 58 acres. The project also includes about an acre of commercial property fronting Olive St. that will be divided into seven commercial lots.
The lots for the homes will list in the $30,000 range and homes built in the subdivision will be all brick with two-car garages and range in price from $120,000 to $170,000.
Ron Homeyer of Siloam Springs is handling the civil engineering work.
No listing agent for the lots has been selected.
The project will be completed in phases, but the infrastructure work for streets and sidewalks is scheduled for completion in May.

Moloney Constructs Hiwasse Commons
Dan Moloney, through his Rydejo LLC of Bentonville entity, recently began work on a new subdivision in Hiwasse that will be valued at $4.64 million upon completion.
ANB Financial N.A. of Bentonville is financing the project.
Hiwasse Commons is located on Arkansas Highway 72 west of Bentonville. It will include 36 lots for single-family “patio-style” homes.
The three-bedroom, two-bath homes will average 1,400-plus SF in size and prices will start at $128,900. Each will be 100 percent electric and other amenities include two-car garages, brick and vinyl exteriors, large kitchen and dining areas and walk-in closets in every bedroom.
There also will be a playground constructed in the subdivision.
Commercial space, ranging from 80,000 SF to 100,000 SF, will be made available at the entrance of the subdivision. Lease prices have not been formulated.
Dan Moloney and Associates Real Estate of Hiwasse will list the homes and the commercial sites.
Crossland Construction Co. of Rogers and Tom Mills Construction of Decatur are handling the infrastructure work.
New Water Systems PLLC of North Little Rock is handling the sewar work.
Other members of Rydejo are Ryan Lewis Horstmann, Wendell Stevens, Patrick Moloney, Dean G. Horstmann and Joe Hortsmann.

Private School Echoes “Green”
Pinecrest Daycare Ltd. recently obtained a $2.17 million loan for the purchase of land and construction of a private school at 1300 S.W. Liberty Ave. in Bentonville.
The project is being financed by American National Bank of Texas, which is based in Terrell, Texas.
Pinecrest Private School will be 14,530 SF and is being built using innovative construction technology called Eco-Block Insulated Concrete Forms. It’s the first commercial building in Northwest Arkansas to utilize this technology in a commercial application.
The building is recognized by the United States Green Building Council as a “green” product because of its energy efficiency.
Bell-Corley Construction LM of Rogers is serving as the general contractor.
Miller Boskus Lack Architects PA of Fayetteville designed the building. Robbins Engineering PLLC of Little Rock is handling the structural engineering while HSA Engineering Consulting Services Inc. of Fort Smith is the mechanical engineer.
The project is scheduled for completion this spring.

Shopping Center Renovated, Sold
Infinity J Street LLC of Bentonville recently paid HB Investments LLC $2.11 million for a shopping center in Bentonville.
Infinity J Street, which was incorporated by Rickard W. Hood, is part of Infinity Retail Properties, a wholly owned subsidiary of Infinity Capital Management LLC of New York City.
Steven P. Lane, a principal with Colliers Dickson Flake Partners in Bentonville, brokered the transaction.
Located at the northeast corner of S. Walton Blvd. and “J” Street, the retail strip center that was formerly called Union Square will now be called the I.O. Metro Shopping Center.
The 13,100-SF building has undergone extensive renovations by Bell-Corley Construction LM of Rogers.
The center will be home to I.O. Metro, M. Grace at Home and other retail stores. A “fast-casual” restaurant also is expected to be among the tenants.
It features an upscale “home design” theme to complement I.O. Metro, a leading provider of modern home décor and furnishings that also has a retail store at the Pinnacle Hills Promenade Mall in Rogers and a store in Fayetteville The center, which will open in January, will be leased and managed by Colliers Dickson Flake Partners.