Cabot Firm G.A.G. Builders Leading Chaffin Expansion

G.A.G. Builders Inc., with headquarters in Cabot, recently purchased a building permit valued at $7.9 million.

The permit is for an expansion project at Chaffin Junior High School at 3025 Massard Road in Fort Smith.

Construction plans call for a new 33,062-SF building as well as a relocation of the school’s front entrance.

Hudson Excavation Inc. in Van Buren is doing the site work.

Architecture Plus Inc. in Fort Smith is handling the design work.

Philip J. Leraris in Fort Smith is the civil engineer. Myers-Beatty Engineering in Van Buren is the structural engineer.

Engineering Elements in Fayetteville is the mechanical/electrical engineer.

Other subcontractors include Laxen Painting in Rogers, Jamell Tile & Stone Inc. in Russellville, Clark Interiors Inc. in Van Buren, Northwest Fire Protection Inc. in Fort Smith, Chamberlain Mechanical Inc. in Fort Smith, Holmes Erection Inc. of Fort Smith, Superior Stoneworks Masonry Inc. in Alma and Architectural Products Inc. in North Little Rock.

The project should be complete in March 2013.

 

Everett Maxey Purchase

A 9.3-acre automobile development deal tipped the scales at $7.73 million.

Benton Holdings LLC of Bryant, led by Dwight Everett, bought the 43,408-SF Everett Maxey Buick GMC Dealership at 2517 S.E. Best Lane in Bentonville.

Everett is president of Everett Buick GMC at 21099 Highway I-30 South in Bryant. The store sold more Buick and GMC automobiles in 2010 than any other dealership in the country.

The seller was Bryan Hunt LLC, led by Bryan Hunt, who had previously been leasing the property to the dealership owners.

The deal is financed with a three-year loan of $7.9 million from First Security Bank of Searcy. City Title & Closing LLC in Fayetteville closed the transaction.

Hunt acquired the property in April 2003 and built a $4.3 million Pontiac, Buick and GMC dealership for his company, Best Motor Co.

Everett acquired the dealership in October 2008. The property recently appraised for $7.4 million.

Clay Maxey is co-owner of the Bentonville dealership.

Earlier this year, Everett also bought a Chevrolet dealership at 1159 N. 45th St. in Springdale from Fletcher Auto Group, led by Frank Fletcher.

Everett and his sons-in-law, Brandon Hudspeth and Chad Hendrix, own 75 percent of that store. Philadelphia Phillies pitcher Cliff Lee and his wife, Kristen, own the other 25 percent.

 

Office Refinance

A 15,572-SF office building in west Springdale is backing a $1.77 million funding agreement.

Blake Hanby, through his NWA Holdings LLC, obtained the eight-year loan from Arvest Bank of Fayetteville.

The building at 6815 Isaac’s Orchard Road houses the dental practice of Dr. Dwight Duckworth, Wells Fargo Advisors LLC and Waco Title Co.

The 1.5-acre development was recently appraised for $1.94 million.

Hanby purchased the land for $727,000 in March 2006.

 

CEI Nears Completion

The new office building for Chandler Equipment Inc. at 4180 W. Sunset Ave. in Springdale is nearing completion.

The $1.4 million project includes a two-story building with 11,000 SF of office space. Legacy National Bank in Springdale provided the financing.

Neal Hefner Construction Inc. in Springdale is the general contractor.

Dave Burris with Mangold Burris Architecture in Rogers is the architect.

Geoffrey Bates with Bates & Associates Inc. in Fayetteville is the engineer.

CEI caters to the liquid waste industry.

 

Mathias Moves on Plainview

Sam Mathias, through his Mathias Shopping Centers Inc., recently purchased a bank-owned property at 3419 N. Plainview Ave. in Fayetteville near the Fulbright Expressway.

Mathias paid ABREHC LLC of North Little Rock, acting on behalf of Arvest Bank of Fayetteville, $1.2 million for the 12,000-SF office building, which sits next to Fayetteville Fire Station No. 4.

Arvest, which acquired the property in March 2009, provided the financing.

The two-story building, which previously housed the Meyer Pediatric Learning Center, was constructed in 2005. It has 11 large rooms, five offices and a kitchen.

The 1.48-acre property last appraised in 2010 for $1.29 million. Arthur Thurman, president and COO of Mathias Properties Inc., said a new tenant will occupy the entire building under a long-term lease, but he declined to name the entity or its intended use. The facility will be retrofitted for the new tenant.

Greg Taylor of Griffin Co. Realtors in Springdale was the listing agent.

Waco Title Co. of Springdale closed the transaction for the seller. Realty Title & Closing Services LLC of Fayetteville closed the buyer’s side.

 

Starry Starts

Jeff Roth, through his ADR Homes by Roth, recently purchased four building permits for a combined $782,446. The permits are for construction of single-family homes in Phase II of the Eden’s Brooke subdivision in Bentonville.

Eden’s Brooke is near the intersection of Arkansas highways 12 and 112.

The homes will be at 1205, 1207, 1301 and 1305 S.W. Starry Sky Blvd.

Amenities include granite countertops, ceramic tile and wood flooring, security system, gas-log fireplace and covered patio.

List prices for the four-bedroom, two-bath homes will be $192,000.

Each home sits on a quarter of an acre and will be approximately 1,860 SF.

 

Summersby Sale

A 5,382-SF home in the Summersby subdivision in Fayetteville has new owners after a $743,000 transaction.

Peter and Michelle McSorley bought the North Montview Drive home from Steven and Ashley Blair.

Wells Fargo Bank provided the financing.

The two-story home, last appraised in 2010 for $766,950, sits on 1.2 acres and was built in 2005.

The Blairs acquired the lot in April 2003 for $79,000.

 

Altamonte Abode

A six-bedroom home in Phase VII of the Shadow Valley subdivision in Rogers changed hands in a $675,000 sale.

Joshua and Christine Saffran bought the Altamonte Drive home from P-B Enterprises Inc.

Wells Fargo Bank provided the financing.

The 3,408-SF home is on 0.28 acres and was built in 2008.

P-B Enterprises bought the lot from the C.R. Reaves Family Limited Partnership, led by Shadow Valley developer Charles Reaves, in May 2007 for $93,000.

 

Hermanus Homes

Homes of Distinction Inc. of Bentonville recently purchased two building permits for a combined $634,673. The permits are for the construction of single-family homes in the Angel Falls addition of Bentonville.

The custom-designed homes will be at 1309 and 1311 N.W. Hermanus St., just off Peach Orchard Road north of Arkansas Highway 72.

The lots are approximately a half-acre. Homes of Distinction purchased them for $30,000 each. The seller was Southwest Cattlemens Corp.

 

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.