Dickson Street Property Sells to Little Rock Group (Real Deals)

Dickson Street Property Sells to Little Rock Group

Haitham Alley and other members of his family through their Dickson Street and Church Development LLC recently purchased five parcels of land and one office building adjacent to Dickson Street in Fayetteville for $1.35 million. The group is based in Little Rock and one of Alley’s brothers is a principal at Vrastsinas Construction Co.

The 4,592-SF building, located at the corner of West Dickson Street and Church Avenue, is the former Pettus Law Firm PA and was built in 1959.

The building and land was purchased from First State Bank of Northwest Arkansas, which had foreclosed on the properties in September 2009.

The bank took possession of the property from Lynnkohn LLC, a now bankrupt company that was headed by Brandon Barber.

The land was to be the site of the controversial Divinity Hotel.

Barber bought the land for $5.08 million in January 2006. The parcels and building last appraised for a total of $1.365 million.

Dickson Street and Church Development has no immediate plans to develop the property. Alley said the group is looking into the right mix, which could be mixed-use office/retail, or even possibly a hotel.

Morrison Wanger Properties of Rogers brokered the deal.

 

Spradlin Crafts

HighPointe Homes

Mark Spradlin through his Precision Building Systems LLC, recently purchased eight single-family building permits valued at a combined $1.06 million. Precision builds under the brand name Craftsman Custom Homes.

The craftsman-style homes are being built in the HighPointe subdivision in Bentonville.

HighPointe was started in 2007 and has about 45 completed homes. It is located north of State Highway 102/SW 14th Street, adjacent to Tater Black Memorial Road. There is an active property owners’ association – dues are $25 per month – and developers hope to build a community pool soon.

The homes are to be located at 3805, 3815, 3817, 3901, 3903, 3909 and 3915 Ridgepointe Ave. and 3914 Gibson Ave.

Houses will range from 1,000 SF to 2,500 SF and may be one- or two-stories, have two, three or four bedrooms and two- or three-car garages.

List prices range from $109,900 to $325,000.

Amenities include granite countertops, stainless steel appliances, hardwood flooring, walk-in tile showers, whirlpool bathtubs, energy efficient windows, cellulose insulation and fully sodded yards. Some of the homes will also include upgraded lighting packages, surround sound systems, vaulted ceilings, cedar beams and custom framed mirrors.

Lonestar Electric Inc. of Rogers and Allison Electric are the electrical contractors on the homes.

Sturdivants Heat and Air of Springdale is the HVAC contractor. G&S Insulation of Springdale is installing the insulation. Jerry’s Plumbing of Bentonville is the plumbing contractor. Passmore Drywall is installing the drywall.

Carino’s Painting is the paint contractor. Emco Termite & Pest Control of Fayetteville is providing termite services.

Paige Spradlin through PS Realty is the exclusive listing agent in the subdivision.

Danville-chartered Chambers Bank is providing the financing.

Another four starts in the HighPointe subdivision are planned in the immediate future.

 

Neighborhood Market

Stores Get Upgrades

Crossland Construction Co. of Rogers recently purchased a building permit valued at $736,046 to remodel a Walmart Neighborhood Market store at 3510 SE 14th St. in Bentonville.

Subcontractors include Freedom Fire Pro of Rogers, Fayetteville Mechanical Contractors, Simplex-Grinnell of Bethel Heights and Hugg & Haul Mobile Storage.

C.R. Crawford Construction of Springdale recently purchased a permit valued at $270,000 for a remodel of the Neighborhood Market located at 2690 E. Citizens Dr. in Fayetteville.

 

Harris’ Seal

Integrity Deal

David and Nancy Harris recently purchased a home at 4165 Integrity Way in Springdale for $515,000. The home last appraised for $638,600.

Integrity Way is south of Don Tyson Parkway and just west of Carley Road.

The Harris’ bought the 4,432-SF home from Legacy National Bank in late April. The bank took possession of the home from McMahon Brothers Construction in 2008.

Improvements to the home include a heated 16-foot by 36-foot swimming pool, 50 feet of wrought iron fencing and nearly 1,380 SF of paved driveway.

 

Car Mart Driving

For Springdale

America’s Car Mart Inc. of Bentonville recently purchased land at the corner of U.S. Highway 412 and Thrush Street in west Springdale. The company paid $325,000.

The land last appraised for $298,000. The company bought it from James and Gaye Cypert, and Dewey and Betty Johnson, who paid $165,000 for it in 1989.

Car Mart plans to build a car lot with a standard prototype building and a lot that will display 40 to 50 cars.

Car Mart has 96 locations in eight states – Arkansas, Oklahoma, Missouri, Kentucky, Indiana, Texas, Tennessee and Alabama – and specializes in buy-here, pay-here car sales.

The company has not yet selected a general contractor on the project.