Vogel Closes Commercial Land (Real Deals)

Ross and Steve Vogel, through their Vogel Properties of Arkansas LLC of Joplin, Mo., recently paid Meek’s Lumber Co. of Springfield, Mo., $4.35 million for vacant land in Bentonville.
The purchase was for 10.2 acres on S.E. 14th Street. The Vogels own another 5.61 acres adjoining the property, which wraps in an ‘L’ shape around the TownPlace Suites by Marriott that’s located at 3100 S.E. 14th St. That property was part of three separate purchases totaling $1.67 million.
Site work has started for the infrastructure on the entire 15.81 acres. It will include 10 commercial lots ranging in size from 0.65 acres to 2.5 acres. Two of the lots are under contract, and two more are reserved for a 38,000-SF retail strip center that will be built by Vogel.
The remaining six lots will be reserved for a mix of retail, restaurant and hospitality space. The land will sell for between $16 to $21 per SF. Prices for the retail strip have not been formulated.
Provision Construction Inc. of Rogers is handling the infrastructure work. Anderson Engineering of Joplin is the engineer.

Crossland Builds Benton Co. Hotels
Crossland Construction Co. of Rogers recently bought a building permit valued at $3.28 million to construct a hotel in Bentonville.
P.P.A. Hotels LLC of Rogers, led by Craig Anderson, is the owner of the project located at 911 S.E. Walton Blvd. It will be the site of a three-story, 78-room Microtel Inn & Suites that includes a meeting room and an indoor pool.
Anderson, along with seven other local and Canadian investors, also will build a three-story, 51-room Microtel at 909 S. 8th St. in Rogers through their XLNC Group LLC entity. No building permit has been issued for that project.
ANB Financial NA of Bentonville is financing both projects.
Crossland is the general contractor and the same architect and engineers will be used for both projects. There’s about a 3-acre footprint for the Bentonville property and about a 1-acre footprint in Rogers.
Jim Mangold of Mangold Architecture & Construction Inc. in Rogers is the architect.
Morrison-Shipley Engineers Inc. of Bentonville is the civil engineer. Advanced Consulting Engineers Inc. of Fayetteville is the mechanical engineer. Miller Engineering of Springfield, Mo., is the structural engineer.
The Bentonville location is scheduled for completion in September while the Rogers location will be ready in November.

Massey, Mourton Form Partnership
KMASS LLC of Fayetteville recently paid Massey Holdings LLC of Fayetteville $1.82 million for vacant land near the Johnson exit of Interstate 540.
KMASS is composed of Mitchell Massey and Kenneth Mourton and the deal was for the duo to form a partnership on the 35.7-acre parcel. Massey also leads Massey Holdings.
The property was originally slated for residential development, but the duo plans to hold onto the land for future development purposes that have not been decided. The property is located between I-540 and The Blessings Golf Club.

Caviness Buys Out Razorback Course
Linda and Ron Caviness, through their Linron Corp. entity of Bentonville, recently paid Lori S. and David Taylor $1.69 million for a golf course in west Fayetteville.
Financing terms were not disclosed.
Caviness leased to own the Razorback Park Golf Course at 2514 Lori Drive for the past three years. The transaction was to buy out the Taylor’s interest in the property, which includes an 18-hole golf course on about 134 acres, a 4,245-SF clubhouse and five storage buildings/pole sheds.
Ron Caviness said he’s put about $1 million into the course in upgrades during the past three years and will soon have asphalt cart paths and a driving range completed.
Plans call for the pro shop and snack bar to be expanded and separated into two different locations. Other improvements, such as renovating the tee boxes, are in the works.
The Taylors purchased the course in 1985 for $759,000. It was originally built as a nine-hole course in 1970 before the Back 9 was added in 1990. The property last appraised in 2004 for $1 million.

Taylor Law Firm Switching Offices
Taylor Law Firm, through their Sanity LLC entity of Fayetteville, recently paid Greg House of Houses Development Co. LLC in Fayetteville $1.6 million for an existing office building in Fayetteville.
Bob King with The Bank of Fayetteville is financing the deal.
The transaction was for the GE Consumer Finance building at 303 E. Millsap Road. The building, which is part of CMN Business Park, is 9,377 SF and was constructed in 2003.
The firm currently operates out of the E.J. Ball Building at 112 W. Center St., but will be moving all 24 employees to the new office in August.
Sanity LLC is composed completely of Taylor lawyers. They are W.H. Taylor, Scott Smith, Tim Brooks, Terry Harper, Jason Watson, Tim Myers, Steve Vowell, Russell Atchley and John Mikesch.
The interior will be completely remodeled by EWI Constructors Inc. of Fayetteville. The building was leased by General Electric Capital Corp. for the first two years after it was constructed. GE had been subleasing the space to Tyson Foods Inc. prior to the sale.
House bought the vacant parcel for $340,000 in 2002.

Bogle Buys Sterling House
Bob Bogle, through his BMB Properties LLC entity of Bentonville, recently paid MS. Sterling Gardens LLC $1.58 million for an existing structure in Bentonville.
The purchase was for The Sterling House, located on 0.91 acres at 202 S.W. O St. It includes a 3,455 SF single-story structure that was built 1985. Also included in the transaction were two vacant parcels totaling 1.34 acres.
The domain name for The Sterling House’s Web site has expired and the business phone number has been temporarily disconnected.
Bogle declined to comment about future plans for the property. He was Sam Walton’s first manager at the Walton 5-10 on the Bentonville square and is credited with proposing the name ‘Wal-Mart’ for what is now the retail giant Wal-Mart Stores Inc.
In previous years, The Sterling House offered wedding packages that included a pianist, a ring-bearer pillow, a fireplace mantle with 23 candles, two candlebra and guest registry.
The cathedral has the capacity for 130 people and on-site catering was available.
Susan Bogle Kennedy is the lone member listed for MS. Sterling Gardens. The Chateau at Sterling Gardens LLC of Bentonville, led by Pat Kennedy, is listed as the previous owner on one of the vacant parcels.

Sharma Purchases White Oak Station
Satish and Sudesh Sharma, through their Sharma Enterprises Inc. entity of Rogers, recently paid Petromark Inc. of Harrison $1.34 million for a fueling station complex in Farmington.
The purchase was for the building located at 243 W. Main St. which houses a White Oak Station Convenience Store, Casa Taco and a First Federal Bank branch.
The 6,110-SF building was constructed in 1997 and includes 1.22 acres. There also are four gas pumps and two drive-through windows.
Petromark is led by Stephen Lair and Steve Turner.

Anderson Buys Growth Building
Trent Anderson, through his Where LLC entity of Springdale, recently paid Mitchell Massey of Massey Capital LLC $850,000 for an existing building at 397 W. Poplar St. in Fayetteville.
Anderson, Massey’s cousin, is now the sole owner of the building and plans to move his business, Hydraulic Solutions Inc., from Springdale to that location.
The building currently houses Growth Ventures, Massey’s development company.
The company is building a new office in south Fayetteville, but may set up shop temporarily in the E.J. Ball Building.

Cox Corrals Tanksley Land
Preston P. and Charlene L. Cox of Fayetteville recently paid Mitchell Tanksley $700,000 for property surrounding Tanksley’s Body Shop Inc. in Springdale.
The property located at 661 S. 40th St. includes more than 3 acres and five buildings, one of which has already been demolished.
Cox is the president of Affiliated Brokers Inc., a real estate company in Fayetteville.
He’s been removing trash from the property plans to demolish the remaining buildings in hopes of opening an office on the property if approval is gained from the city.
Tanksley’s Body Shop will continue business as before. Mitchell Tanksley is leasing the building to Bill Gillum, president of Tanksley’s Body Shop Inc.