C.R. Crawford Leading $5.5M Project on West Truckers Drive (Real Deals)

C.R. Crawford Construction of Fayetteville recently paid the city of Fayetteville $5.5 million for a commercial building permit.

It’s being used to build a 42,638-SF assisted living facility at 1967 W. Truckers Drive in the Springwoods addition behind Sam’s Club.

Clarity Pointe is a 59-bed, Level II ALF.

Clarity Pointe of Fayetteville LLC is the developer. That company is in the portfolio of Tennessee businessman Thomas Schaffler, a former Vanderbilt University football player turned entrepreneur and commercial real
estate developer.

The facility is based on a new standard of research provided by The Vanderbilt Center for Quality Aging, and a best-practice model for Alzheimer’s care tested at Abe’s Garden, a nonprofit Alzheimer’s care facility at Vanderbilt.

C.R. Crawford is the general contractor. Manuel Zeitlin Architects of Nashville, Tenn., designed the facility.

Arco Excavation and Paving of Springdale is doing the dirt work.

Enfinity Engineering of Brentwood, Tenn., is the MEP engineer. Structural Design Group of Nashville is the structural engineer. GBS Engineering of Knoxville, Tenn., is the
civil engineer.

The exterior is vinyl siding and brick with a porte cochère at the front entrance of the building.

Construction is scheduled for completion in March. Residents will move into the facility the following month.

 

Vutara Mortgage

Two commercial properties in downtown Bentonville were used to secure a $5 million mortgage.

Vutara Properties Inc., led by Randy and Valorie Lawson, got the one-year loan from Arvest Bank of Fayetteville.

The buildings are at 113 and 115 S. Main St., and at 108 S.E. A St.

The Charles R. Craig Building on Main Street houses Lawco Exploration. The property was previously linked with an April 2011 mortgage of $880,000 and a December 2003
mortgage of $350,000, both held by Arvest Bank.

Lawson acquired the 4,640-SF building in November 2001 from Helen Wolfe and W. Thad Wolfe for $150,000.

The 6,984-SF A Street building, which houses second-floor office space on top of the Tavola Trattoria restaurant, was built in 2011, and appraised in 2012 for $977,750.

 

Vision Value

The owner of a 24,108-SF office building near Interstate 540 in Fayetteville recently picked up a $4.08 million funding agreement.

Steven Vold, through his Vold Vision Ventures LLC, obtained the five-year loan from Fayetteville-chartered Arvest Bank.

Vold Vision at 2783 N. Shiloh Drive was previously tied to a July mortgage of $1.75 million held by Arvest Bank.

Vold, the owner and CEO of Vold Vision, bought the former Orthopedic Institute building in November 2011 for $2.4 million.

The two-story building was built in 2007, and last appraised in 2010 for $2.13 million.

 

Casey’s Claim

Convenience store retailer Casey’s General Store has taken ownership of land for a third store on Don Tyson Parkway in Springdale.

The company, through its Casey’s Marketing Co. entity, paid $1 million for 1.54 acres at the southwest corner of South 48th Street and West Oaklawn Drive. The property is at the west end of Don Tyson Parkway.

Herbert and Laura Ann Hughes were the sellers.

Other Casey’s locations in Springdale are at the northeast corner of Old Missouri Road and Don Tyson Parkway and at the southwest corner of South Thompson Street and Don Tyson Parkway.

Casey’s is a publicly traded company based in Ankeny, Iowa.

 

Wimbledon Residence

An 8,878-SF home in the Champions Golf & Country Club addition of Rogers recently sold for $915,000.

Matthew and Catherine Kistler bought the Wimbledon Way property from Krishnamurthy Iyer and Kalpana Krishnamurthy.

Waco Title Co. of Springdale was the closing agent.

Arvest Bank of Fayetteville provided the financing with a 30-year mortgage of $686,175.

Johnny Gramling with the Rogers office of Lindsey & Associates listed the property.

Brandy Pool with Portfolio Luxury Real Estate of Rogers represented the seller.

The five-bedroom home near Pinnacle Country Club was built in 2002, and appraised in 2012 for $1.56 million.

Krishnamurthy bought the home in April from State Farm Bank F.S.B. of Fort Wayne, Ind., for $915,000.

The bank bought the property in February from Walter David Dial III and Jewelene Dial for $0.

Dial bought the 0.79-acre lot in January 1996 from Nelson Trust for $22,000.

 

Dogwood Canyon Home

A 3,900-SF European estate home in the The Estates at Dogwood Canyon subdivision just off Howard Nickell Road in Fayetteville recently sold for $769,000.

Sam and Jamie Pittman bought the West Cedar Ridge Lane home from Michael and Melinda Thompson.

Arvest Bank of Fayetteville financed the purchase with a 30-year mortgage of $769,000.

Mercury Title LLC of Fayetteville was the closing agent.

Jordan McCutcheon with Bassett Mix & Associates of Fayetteville listed the property.

Martha Haguewood with Lindsey & Associates of Fayetteville represented the seller.

Thompson bought the 2.16-acre lot in July 2010 for $150,000.

Majestic Custom Homes Inc. of Springdale, led by Casey Curlee, built the four-bedroom home in 2011. It appraised in 2012 for $529,550.

 

Development Deal

Undeveloped acreage along North 48th Street west of Interstate 540 in Springdale recently sold for $820,000.

JNB Arkansas LLC of Leclaire, Iowa, led by real estate developer Jim Bergman, bought about 66 acres north of Elm Springs Road from Valley Bank of Moline, Ill.

Valley Bank also financed the deal.

Realty Title & Closing Services LLC of Rogers was the closing agent.

Valley Bank foreclosed on the property in January 2009. Graves & Rhodes Developments Inc. of Springdale, led by Barry L. Graves and Jeffrey D. Rhodes, was the previous owner.

G&R bought the property from Theo and Wilma Kirkland in May 2005.

Bergman is the owner of Iceberg Development Group.

 

Landmarc Lots

Undeveloped residential land totaling about 21 acres northeast of Northwest Arkansas Community College in Bentonville recently sold for $671,000.

Landmarc Custom Homes LLC of Springdale, owned by Tim Boudrey and Chris Bradley, bought the property from Ralph C. Vernetti, through his College Place Development LLC.

The purchase includes eight lots totaling about two acres in the College Place subdivision. The remaining 18.8 acres is the Brodie Addition.

The most recent appraisal of the land was a combined $522,300.

First National Title Co. of Bentonville was the closing agent.

First Security Bank in Rogers provided the financing.

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.