Washington County Buys Terminella Building for $4.5M (Real Deals)

Washington County purchased the Terminella Building at 123 N. College Ave. from Terminella Associates Inc. on Aug. 25. The county paid $4.5 million for the two-story structure.

The building was constructed in 2005 and is about 20,224 SF, evenly split between the floors. It last appraised in 2007 for $2.85 million. There are two passenger elevators in the building.

The top floor is finished out with office space. The Public Defender’s office will move into those offices.

About 50 percent of the bottom floor will be finished out with a new courtroom, judge’s chambers and support rooms, and will be the new home of Judge Mary Ann Gunn and her drug court as the courthouse across the street is renovated.

The courtroom finish out is set to be complete in May. The remaining part of the first floor will remain unfinished until the county’s needs are assessed.

Bellafont’s Building J Construction Under Way

Architectural Contractors Inc. of Springdale purchased a building permit valued at $2.24 million on Aug. 20. The permit is for the construction of Building J at 1420 E. Augustine Lane in Phase IIA of Fayetteville’s Bellafont Development.

Bellafont Retail LLC is the borrower on the project. Financing is being provided by Enterprise Bank & Trust of Clayton, Mo.

Brandon Barber is the sole officer of Bellafont Retail.

The project is being managed by BR Management Services LLC. Brandon Rains is the sole officer of BR Management.

Building J will have a total 38,716 SF on two floors. There will be ground-level entrances on both floors and the building will have a similar look to the other buildings that are under construction within the development.

Architectural Contractors is the general contractor.

Northwest Electric Inc. of Fayetteville will handle the electrical work, Dunk Fire & Security of Springdale will install the fire suppression system.

Other subcontractors working on the project include: H2 Engineering, Johnson Mechanical Contractors and Tomlinson Asphalt Co., all of Fayetteville; Crum & Marshall Waterproofing, Abram’s Glass Inc. and Leisurescapes, both of Springdale; Wil-Shar Inc. and Wortmans Smart Plastering, both of Rogers.

Cornerstone to Build Nine Riverwalk Homes

Tim McGuire, through his business Cornerstone Construction Homes Inc., recently purchased nine building permits valued at a combined $2.06 million. The permits are for construction of single-family homes in Phase IV of Riverwalk Farms Estates subdivision in Bentonville.

The lots are located at: 3403, 3505, 3409, 3507, 3501, 3401, 3407, 3509 and 3503 SW Windy Oak Ave. The lots vary in size from 0.30 of an acre to 0.46 of an acre.

Riverwalk Farms is located between Arkansas highways 12 and 102 on Greenhouse Road.

Arvest Bank-Bentonville is providing the financing.

McGuire would not discuss planned square footages or amenities on the homes. The finished properties will be “in the $200,000s.”

The permits were valued between $219,740 and $242,618.

McGuire typically uses General Heating of Rogers, Richard Davis Plumbing of Bentonville and Ridout Lumber among other subs on his projects.

The company will also build a planned swimming pool for the neighborhood that will be part of the POA.

Alpine Holdings Cools Springdale Storage

Through his Alpine Holdings Inc., Jim Benton of Rogers recently purchased building permits valued at $1.46 million for the construction of a mini-storage facility located at 2571 E. Robinson Ave. in Springdale.

The permits are for Phases I and II, which will be about 75,000 SF and provide about 750 units in eight buildings. The project sits on 6.4 acres.

Future phases will bring the total SF up to about 106,000 and provide about 950 units. Projected total costs will be about $3 million.

The business will be called Air-Tight Self Storage and Benton will retain the business.

It will be a climate-controlled storage with access to many of the units enclosed behind an “airlock” type vestibule designed by Benton. There will be units designed for RV and boat with wide-opening doors and hard-wired trickle chargers.

Benton is also constructing a residence on the property, so there will be a manager onsite 24-hours. There will also be video surveillance of the property.

Alpine Holdings is the general contractor. Tri Star Contractors of Siloam Springs is providing the excavation, utility work, drainage and concrete work.

Farmers Bank & Trust Co. of Magnolia is providing the financing on the project.

Lease prices will be about 50 cents per SF per month, but will reflect the market price once the project is completed.

Davis Builds Har-Ber Daycare

Howard Davis, a Springdale accountant, recently purchased a building permit valued at $1.21 million for the construction of a Montessori School at 5269 Har-Ber Ave. in Springdale.

White Doves Ltd. Co. will own the building. Davis is the sole officer of White Doves. The school will consist of three buildings and will be a combined 8,100 SF.

Robert D. Berry of Eureka Springs is the architect on the project. RJ Daniel’s Construction of Rogers is the general contractor. WR Consulting Inc. of Rogers did the civil engineering. Allied Plumbing & Drain Service of Siloam Springs is providing the plumbing services. Simmons First Bank of Northwest Arkansas is providing the financing.

The project is scheduled for a mid-November completion.