Update: Parkway Plaza To Be Built On 27 Acres in Springdale

by Arkansas Business Staff  on Thursday, Oct. 12, 2017 9:50 am   2 min read

Sage Partners and Griffin Co. Realtors on Thursday announced the development of a 27-acre office and mixed-use project called Parkway Plaza, expected to begin construction in early 2018 near the intersection of Interstate 49 and Don Tyson Parkway in Springdale.

Sage Partners has partnered with Southwest Springdale Forty-Nine LLC to serve as the developers of the project, which could eventually be a $180 million development. Sage Partners President Marshall Saviers said the site is being cleared so the group can move quickly when opportunities to lease or sell lots arise so the final cost is almost impossible to predict before breaking ground.

We are fortunate that we can wait for the right deals on this site,” Saviers said. “We are going to do what’s right for the area and for the development. That number could obviously change over time. When it’s fully developed, it could be a big number but we don’t know what that number is right now.”

The firm said Parkway Plaza will offer a park-like setting with walking trails, green spaces and views of the Ozark Mountains. It will be built near Arkansas Children’s Hospital, Arvest Ballpark and Sam’s Club.

“This development has been in the works for the past two years and the timing is right to bring it to the marketplace,” Greg Taylor of Griffin Company Realtors said in a news release. “Parkway Plaza will solidify Springdale as a major player in the future growth and development of northwest Arkansas, and, with the new Children’s Hospital preparing to open early next year and the extension of Don Tyson Parkway west to Highway 112, the demand for new office space in that area will be even greater.”

The development will include commercial lots for sale that could appeal to hotels and restaurants. There will also be ground lease and build-to-suit options and multi-story office buildings.

Saviers has long been a fan of developing projects in the area, something that was driven home when Sage helped build the BNSF Logistics headquarters across Interstate 49 from where the Parkway Plaza will be. Saviers said he heard from a lot of companies that were interested in the area as the BNSF building was under construction.

It is something we think is needed in Springdale with all that is going on around Children’s and Arvest Ballpark,” Saviers said. “We saw a big need when we did the logistics building, it proved to us that there was a market for that type of project in the area.”

As interest in lease space increases, Southwest Springdale Forty-Nine is prepared to construct a 40,000-SF multi-story office building in the near future, according to the release.

 

 

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