Lofts at Underwood Elevated by $7.4M Building Permit (Real Deals)

On Oct. 15 Crossland Construction bought a $7.24 million building permit for the construction of The Lofts at Underwood Plaza.

The nine-story mixed-use building is located just off Dickson Street on Powerhouse Avenue. The project is estimated to cost a total of $22.5 million to complete.

Tom Belden, Bill and Craig Underwood, Rob Merry-Ship, Richard Alexander and John Nock, through their West Dickson Street Development LLC, purchased the property for the development in April 2004 for $947,000.

Merry-Ship, Alexander and Nock are serving as the developers for the project.

The building will have 52 condo units for a total of 73,751 SF of residential space and 49,085 SF of commercial space.

The first through third floors will house the retail, office and restaurant space.

Floors four through eight will be strictly condos.

The condos will range in size from 600-SF one-bedroom lofts to 2,600-SF three-bedroom condos.

The units will be finished in one of three styles: urban, traditional and metropolitan. All units will have stainless steel appliances and pre-selected plumbing, lighting and color packages.

The building will be equipped with a security system for the residential units.

Robert Sharp is the architect for the project. The building was designed with ample outdoor terrace room to give it a New Orleans feel.

Crossland Construction is the general contactor for the project.

Beaver Lake Concrete has been named a sub-contractor for the project.

The tower will have a five-story parking garag attached to it with 303 parking spaces. The levels will be divided between public and tenant use.

Prices for the units start at $250 per SF and increase depending on the view from the condo.

Alexander, Merry-Ship & Alt Real Estate Group are the exclusive listing agents for the property.

Completion date for the project has been set for Aug. 1, 2008.

Vantage Partners Make Plans for Medical Space

WW Healthcare, managing partner of Vantage Partners LLC, is developing a $4.3 million medical office building for Dr. Christopher Arnold on Parkview Drive in Fayetteville.

There will be a total of three buildings located on the 5-acre lot.

The first building to be constructed will be home to Arnold’s orthopedic practice and will have additional space that will be available for lease on the second floor.

In the second phase of the project two additional buildings will be constructed and will mirror the look and size of the first building.

Each building will have a total of 26,528 SF for a development total of 79,584 SF.

Lease rates for the additional space have not been set but will be about $20 per SF. The space available for lease will be tailored for tenants needs.

EWI Inc. will serve as the general contractor for the project. Haynes Limited completed the architectural work for the property.

BenchMark Group completed the mechanical and plumbing engineering work, Robert Jones Engineering PLLC did the electrical engineering and Myers Engineering completed the structural engineering.

First Security Bank is financing the project.

Arnold is a board certified orthopedic surgeon. He owns Arnold Orthopedics and Sports Medicine with clinic locations in Harrison, Springdale and Fayetteville.

Landers Lands Larger Car Lot

Kinco Constructors LLC recently purchased a $1.23 million building permit from the city of Bentonville for the expansion of the Landers-McLarty Ford-Jeep dealership on Walton Blvd. in Bentonville.

Black, Corley and Owens PA is the architectural firm for the project.

Don Brick Excavation Inc. completed the dirt work for the site.

Concrete Construction Inc. will be completing the concrete work for the expansion. Romart Inc. has been named the steel sub-contractor for the job.

Ariworks Inc. is the mechanical sub-contractor and Staley Electric is the electrical sub-contractor for the project.

Beaver Lake Concrete Inc. is supplying the concrete and Hutchens Construction Co. is providing the asphalt paving.

The expansion plans call for the existing 5,000-SF building to be replaced by a 12,550-SF showroom with a full service department.

The new facility will allow for separate service and customer space for the dealership’s Chrysler-Jeep-Dodge customers.

The dealership does not currently have parts and service available.

Clinton Constructs Fayetteville Retail

Roy Clinton is developing a 9-unit retail complex on north Steele Boulevard in Fayetteville.

Commerce Construction Co., which is serving as the general contractor for the property, purchased a $1.5 million building permit from the city of Fayetteville on Oct. 9.

The 18,000-SF retail center sits on 1.48 acres, which Clinton purchased for $597,000 in February.

The exterior will be brick and EIFS.

Subcontractors for the project include: Concrete Construction Inc., NWA Steele Co. and Northwest Electric Inc.

The property will be completed in the first quarter of 2008.

Second Arby’s Set for Springdale

Tulsa, Okla.-based United States Beef Corp. sold lot six of Westside Village, Phase II, in Springdale to JWD Properties LLC for $1 million on Sept. 26.

JWD is a registered LLC for Arby’s Restaurants and will be constructing a stand-alone Arby’s on the lot some time in 2008.

The building will be about 3,000 SF and will include a drive-thru lane.

United States Beef Corp. owns and operates more than 240 Arby’s franchised restaurants in Oklahoma, Arkansas, Kansas and Missouri.

There are currently 10 Arby’s restaurants in Northwest Arkansas.