Bill Lazenby Sells $15M in Washington County Rentals

According to a warranty deed filed in Washington County on May 6, Boulder Ridge of Northwest Arkansas LLC, which is managed by John Baxter, recently purchased 231 duplexes and single-family homes from Lazen Duplexes LLC for $15.06 million.

William A. Lazenby is the sole and managing member of Lazen Duplexes of Fayetteville.

Baxter is a founding member of Trinity Property Management LLC of Fort Smith. The company’s holdings and managed properties are valued at $70.7 million, not including the Lazen properties. The company manages properties in Arkansas, Oklahoma and Texas.

 The former Lazen properties are all in Washington County, ranging from West Fork to Springdale, with most in Fayetteville.

Baxter plans to make minor upgrades to some of the properties, mostly related to roofing.

He did not have an accurate occupancy rate, but hopes to have the units at 90 percent in the near future.

Danville-chartered Chambers Bank is providing the financing.

 

Katherine’s Place

Nears Completion

A 110-bed skilled nursing facility is nearing completion in west Fayetteville.

Katherine’s Place, with a building permit value of $5.6 million, is slated for a mid-June completion and an early July opening.

The facility is located at 4405 W. Persimmon St., near Rupple Road and will be 64,270 SF and between 130 and 150 people will eventually be employed by Reliance Healthcare Management of Conway, the owner of the project.

Griffin Construction Co. of Fort Smith is the general contractor on the project. Les Rogers Inc. of Fayetteville provided the excavation work. Bunting Electric, Heat & Air of Springdale is providing the HVAC work; All Around Landscaping is providing landscaping services.

Roll Off Services of Fayetteville is providing the sanitation services and The Potty House of Fayetteville is providing lavatory services.

Amenities include an 18-foot fountain, four fireplaces and extensive commons areas.

Two Commercial Starts

At Twin Creeks Village

Two office buildings are under construction in the Twin Creeks Village area of Fayetteville. Twin Creeks is at the intersection of Gregg Avenue and Van Asche Drive, near the Steele Crossing development.

The first building is being erected by Van Tassel-Proctor Inc. of Little Rock and is located at 161 W. Van Asche Dr., Suite 101. The construction company purchased a building permit valued at $781,871 to build a one-story building. Leonard Boen Enterprises is the owner of the project. The building will be 7,428 SF.            

Allied Plumbing of Bentonville is the plumbing contractor.

Kahler Air Inc. of Fayetteville is the HVAC contractor. Professional Concrete Specialties of Rogers is providing the foundation work.

McClelland Consulting Engineers Inc. of Fayetteville provided the civil engineering on the site. The building sits on a 0.99 acre.

The second building will be located at 245 W. Van Asche Loop, essentially next door to the first building. CR Crawford Construction Co. of Fayetteville purchased a building permit valued at $650,000 to construct a dental clinic for Lance Osborne. The building will sit on 0.58 of an acre and will be 3,500 SF.

Jorgensen & Associates is the engineer and architect on the project.

According to LoopNet, an online commercial real estate listing service, Twin Creeks is about 34.4 total acres and 11 lots are available ranging from 0.70 of an acre to 2.90 acres. The land is zoned C-1 and is being marketed with sub types of medical, restaurant and free standing office.

 

Brittenum Builds

Five Row Houses

Brittenum Construction Co. of Fayetteville is nearing completion on five homes in west Fayetteville. Jon R. Brittenum Jr. is a principal of Brittenum Construction.

The five permits are valued at a combined $829,482.

The homes will be located at 568, 625, 631, 637 and 643 N. Longfellow Lane, near Rupple Road and the Donald W. Reynolds Boys & Girls Club of Fayetteville.

The three-bedroom homes are about 2,000 SF and are on 40-foot by 80-foot lots. They are listing between $160,800 and $173,000.

Amenities include granite countertops and backsplashes, stained cabinets, tiled wet areas, brick footings, sodded yards and front landscaping.

The homes are a free standing “row” house design, with narrow but deep build outs and some yard on either side. Many in the neighborhood feature side patios. Footings are bricked and the siding is painted Hardi Panels.

Typical layouts include two-and-a-half bathrooms and two-car garages located in the alleyway. 

Subcontractors include G&S Insulating of Springdale and The Potty House of Fayetteville. Brick is supplied by Acme Brick.

Marion Aust with Metro Marketing Realty of Fayetteville is the exclusive listing agent.

 

Benchmark Frames

Fayetteville Façades

Benchmark Construction of NWA recently purchased a building permit valued at $350,000 to remodel the façade of a store at 3835 N. Mall Ave. in Fayetteville.

Subcontractors include Dolle Electric Inc. of Rogers, Roll Off Services Inc. of Fayetteville and Arkansas Portable Toilet Rentals of Rogers.

A beauty supply store and a Jo-Ann Fabrics & Crafts store are slated for the space that formerly occupied a Goody’s Family Clothing store.

Submit Real Deals tips about construction, real estate transactions or upcoming projects valued at $300,000 or above and new commercial leases to Worth Sparkman at [email protected].