Rock Creek Apartments Set for Fort Smith (Real Deals)

Foster Files and Harris Land Development and Construction Management recently purchased a building permit valued at $2.8 million to construct a 56-unit multi-family development in Fort Smith.

The Rock Creek Apartments are located at 3020 N. 50th St. in Fort Smith.

Files and Harris is the general contractor on the project.

Air Masters Mechanical Inc. will install heating and cooling systems for the project.

Arvest Breaks Branch Ground

Commerce Construction Co. recently broke ground on a new Arvest Bank location at the southeast corner of U.S. Highway 412 and Butterfield Coach Road in Springdale. Construction costs are valued at $1.6 million.

The 4,000-SF building will replace Arvest’s current location at 1301 E. Robinson Rd. in Springdale.

The new branch is located approximately one mile from the current location.

Lorrie Smith with Hight Jackson Associates PA is the architect on the project. Subcontractors on the project have yet to be determined.

The estimated completion date is May or June 2009.

The branch manager for the new location is Jimmy Holmes.

Arvest established a branch at the Robinson location in 1999. As of June 30, the branch had about $5.43 million in deposits.

The branch will have four drive-thru lanes. It will employ 11 associates.

Arvest plans to build four additional branches in the Northwest Arkansas and Fort Smith area during 2009, with one in Fayetteville, two in Ft. Smith and one in Van Buren.

Springdale Storage Trades Hands

Mathias Storage Buildings in Springdale recently sold for $1.3 million. Robert and Frances Hensley purchased the property at 1711 Ford Ave., in the Springdale Industrial Park off of Old Missouri Road from James and Joy Mathais who brought the land in 2003 for $43,000 and built the storage facility in 2004.

The storage facility includes 24 units, which rent for $495 per month. Each unit is 1,166 SF.

Roth Custom Builds Bentonville Homes

Roth Custom Homes of Rogers recently purchased six building permits valued at a total $1.2 million to build single family homes in the Eden’s Brooke Subdivision off of Interstate 540 and Central Avenue in Bentonville.

The homes will be located at 101 N. E. Chicory Lane, 103 N. E. Chicory Lane, 105 N. E. Chicory Lane, 107 N. E. Chicory Lane, 109 N. E. Chicory Lane and 111 N. E. Chicory Lane.

Benton Place Apts. Purchased

Donald Michael Jr. of Springdale bought Benton Place Apartments at 2060 N. Leverett Ave. in Fayetteville for $825,000. Michael purchased the property from CM Miller Properties, of Rogers. The apartments, located north of Sycamore, consist of two buildings. One building has 10 units and one unit building has eight units.

CM Miller Properties bought the apartments in 2004 for $1.2 million. Sean Keith, a Rogers attorney, is the registered agent for CM Miller Properties. The apartments were constructed in 2004.

Dickson Street Condo Sells

Super Rent Enterprises Inc., of Fort Smith, purchased a unit in the Lofts at Underwood Plaza on Dickson Street for $533,000. Super Rent Enterprises purchased unit 601 from West Dickson Street Development Company LLC.

The one-bedroom, 1.5 bath, unit is 1,670 SF. It features a balcony with a view of Dickson Street.

Toni White is the registered agent for Super Rent Enterprises. Jim Cotton is the president.

Richard Alexander is the registered agent for the West Dickson Street Development Co.

Alexander, along with Ted and Leslie Belden, Rob Merry-Ship, John Nock, Craig Underwood and Bill Underwood, are equal partners in the Lofts at Underwood Plaza.

The top six floors of the nine-story building contain residential condominiums. The lower three floors will include restaurants, offices and retail.

The units are available in three styles, metropolitan, traditional and urban loft. All units feature hardwood floors and stainless steel appliances.

The urban units feature maple cabinetry with brushed metal inserts, brick tile, hardwood floors, an optional interior brick accent wall and an open, adaptable floor plan. The traditional units feature painted wood cabinetry with brushed nickel bend pulls, crown molding and hardwood floors. The metropolitan units feature dark hardwood floors, slab-door cabinetry with a dark finish and linear and brushed silver handles.

Eight of the 54 units have been sold or reserved.

Pricing ranges from $185,850 to $1.3 million. Residents have access to a secure five-level parking garage adjacent to the building. Residents also have access to a fitness room.

J Martin Builds Fayetteville Homes

The J Martin Co. recently purchased six building permits for a total value of $964,715 to construct single-family homes in Fayetteville.

The homes will be located at 2590 E. Carnation Court, 2589 E. Carnation Court, 2561 E. Carnation Court, 2575 E. Carnation Court, 2576 E. Carnation Court, and 2562 E. Carnation Court.

The homes range in size from 1,946 SF to 2,267 SF.

(Submit Real Deals tips about construction, real estate transactions or upcoming projects valued at $500,000 or above to Susannah Patton at [email protected].)