Jordan Takes Ownership of Malibu Flats Project

Ownership of a nearly complete townhouse development in Fayetteville changed hands after a $1 million transaction.

Henry Jordan Jr. of Little Rock, through his Jordan Holdings LLC, purchased the 0.73-acre property at 1528 N. Garland Ave. Jordan also owns Jordan Rental Properties in Fayetteville, which has 324 apartments in five complexes.

The seller was HTD Investments LLC, led by Neil Schmitt.

The two-building development will be called The Malibu Flats and contain 11 two-story townhouses. Seven of them will occupy one building and the remaining four will be in a second building.

Each unit will have a one-car garage, be approximately 1,400 SF and rent for $1,200 per month.

Jordan said the development would be complete by late July.

 

First Christian Church Addition

Clinard Construction Co. in Bentonville will be in charge of a $1.28 million project to expand the First Christian Church at 807 S.E. 14th St. in Bentonville, directly across from the Bentonville Police Department.

Clinard is the general contractor. Midland Plumbing and Mechanical of Bentonville is the plumbing contractor. Master Electric Inc. of Pineville, Mo., is the electrical contractor.

Morrow Plumbing Inc. Heat and Air of Farmington is the heating and air contractor.

Keith Austin Construction Co. of Springdale completed the site work.

Rat-A-Tat-Tat Construction Inc. of Rogers is doing the framework.

The 7,200-SF addition will house a new children’s wing for the church’s DOCK (Disciples of Christ Kids) Pre-School and Character Kids after-school programs.

It will include eight classrooms, each with a restroom facility, and a 1,200-SF multipurpose play area. Construction is scheduled to be complete by Labor Day.

 

Panda Bears Down in Bentonville

Oakview dck LLC, formerly Oakview Construction Inc., headquartered in Red Oak, Iowa, is leading the construction project to build Arkansas’ first Panda Express restaurant.

The 2,450-SF, freestanding building will be built at 319 S. Walton Blvd. in Bentonville, site of the former Happy Bays Carwash.

Arco Excavation and Paving of Springdale is completing the site work.

Panda Express, a California-based chain serving American Chinese cuisine, operates approximately 1,400 restaurants across the country. The grand opening of each location is marked by an entire day of free food for customers.

Construction should take 120 days to complete. The building will include seating for approximately 52 customers. The parking lot will include 34 spaces.

 

Valley View Home

A 5,322-SF home in Phase V of the Shadow Valley subdivision in southwest Rogers tipped the scales at $850,000.

Walter and Melanie Gallagher bought the 0.61-acre property on Valley View Road from the Dobbs Family Trust, led by Johnnie Dobbs. The deal is backed by a $552,500 mortgage from Bank of the Ozarks of Little Rock.

 

Shetland Lane Sale

A 4,287-SF home on Shetland Lane in Phase IV of southwest Rogers’ Pinnacle subdivision rang up a $750,000 sale.

Mark and Debi Hannay purchased the residence from Nathan and Maria Fairchild. The deal is backed with a 15-year loan of $417,000 from CapWest Mortgage.

The two-story home on 0.62 acres last appraised in 2009 for $705,700.

Fairchild Construction Inc. of Bentonville built the home in 2007. Nathan Fairchild is the president of the company.

 

Boomerang Buy

A Bentonville carwash has a new franchisee after a $2.5 million transaction.

The Horwitz-Bradley Revocable Living Trust, led by Merle Horwitz and Mary Bradley, and the Ronald Bloom Family Trust, led by Ronald Bloom, each acquired a half interest in Boomerang Carwash at 1004 S. Walton Blvd.

The seller of the real estate, which includes a 3,150-SF car wash on 0.69 acres, was Bentonville Walton Blvd. Carwash Holding LLC, led by James Burks.

Drive Clean LLC, a North Little Rock-based private company led by president and CEO Mike Bennett, operates Boomerang Carwash.

Boomerang has 24 locations in six states.  w

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.