Hopper Reclaims O’Charley’s, Lines Up New Tenant

A vacant restaurant building at the Scottsdale Center in Rogers has a new owner.

According to a corporate warranty deed, CBS Hopper LLC, led by Tom Hopper, bought the property located at 401 N. 46th St., from O’Charley’s Inc. for $1 million. The transaction is tied to a five-year loan of $1.08 million from Jonesboro-based Liberty Bank of Arkansas.

Steve Fineberg & Associates Inc. of Bentonville listed the property. Steve Fineberg, president, and Amy Mills, executive broker, were the co-listing agents.

The listing price was $1.29 million.

O’Charley’s, headquartered in Nashville, Tenn., shuttered its Rogers location and 10 others across the U.S. in December 2010.

The restaurant building, built in 2003, has 7,096 SF of space and seating for 281. It last appraised in 2009 for $1.84 million.

Scottsdale Lease

Joe Lissuzo, through his Cheezey’s American Grille LLC, recently signed a lease to operate a new restaurant in the vacant O’Charley’s restaurant building at 401 N. 46th St. in Rogers.

Lisuzzo, the majority owner of Copeland’s of New Orleans at 463 N. 46th St., in Rogers, plans to open Cheezey’s American Grille at the site by June 1.

Lisuzzo is leasing the building from Tom Hopper, through his CBS Hopper LLC.

The lease is for 10 years. The building is undergoing exterior and interior renovation.

Groundserv in Fayetteville, owned by Terry Delany, is doing the landscaping.

Arkansas Sign and Banner LLC in Bentonville, owned by Joe Conway, is doing the exterior and interior signage.

Benton House Floors to Go in Bentonville, owned by Tom Marler, is doing the carpet and flooring.

The Springdale branch of Waste Management Inc., with Kirby Tompson as manager, is providing trash and sanitation services.

 

Mercy Making Additions

McCarthy Building Companies Inc., with headquarters in St. Louis and nine offices across the United States, recently purchased two building permits with a combined value of $1.9 million.

The permits are for two exterior construction projects at Mercy Medical Center at 2710 Rife Medical Lane in Rogers.

One permit, valued at $1.5 million, is for the construction of a two-story bridge connector from the Mercy Physicians Plaza to a new hospital entrance. The new feature will join the two from the ground level to the second floor. This project is slated for completion in October.

The other permit, valued at $400,000, will create more handicapped parking spaces closer to building entrances and create a covered patient discharge exit. This project is slated for completion in August.

 

Shadow Valley Sale

A four-bedroom home in the Shadow Valley subdivision of southwest Rogers rang up a $729,000 sale.

Mark and Dijuana Lewis bought the property at 5408 Altamonte Drive from Tanglewood Homes Inc., of Rogers, owned by John Tidwell.

Sara Tidwell of Elite Real Estate brokered the sale.

The 4,500-SF, two-story home on a 0.35-acre lot was built in 2010.

Tanglewood bought the property from the C.R. Reaves Family Limited Partnership, led by Shadow Valley developer Charles Reaves, in 2009 for $125,000.

Mercury Title LLC of Rogers closed the sale.

 

Pinnacle Property

A four-bedroom home in the Pinnacle subdivision of southwest Rogers changed hands in a $995,000 deal.

Eric Willinghan and Margaret Greenhouse bought the property at 4 Tudor Lane from John and Shari Fleming.

Lori Brittain of Weichert Realtors — The Griffin Co. in Springdale brokered the sale.

The 4,251-SF, one-story home on 0.56 acres was built in 2006.

The deal is backed with a 30-year loan of $760,000 from Wells Fargo Bank of Des Moines, Iowa.

The Arkansas division of the Stewart Title Co. closed the sale.

 

Downtown Bentonville Buy

A 0.16-acre piece of downtown Bentonville changed hands in a $1.5 million sale.

According to a warranty deed, Tate & Haney sold the property at 105 N.W. 2nd St., to C2 Capital Properties LLC.

The property last appraised for $1.55 million in 2009 and contains approximately 20,000 SF of office space.

The property had a list price of $1.7 million.

Twelve companies are listed as tenants of the three-story building, including Scott&Goble Architects, the David Hawkins Law Firm and Soltel Networks LLC, a media and technology company.

Johnny Haney, managing partner, and Mark Tate, trustee of the John E. Tate Revocable Trust, lead Tate & Haney.

Jeff K. Rhodes is the incorporator of C2 Capital Properties.

Waco Title Company of Springdale closed the sale.

Submit tips about lease activity, construction, transactions or upcoming projects valued at $300,000 or more to Paul Gatling at [email protected]. Please write ‘Real Deals’ in the subject line.