Mathias Properties of Springdale plans to build four warehouse-offices in Tontitown.
Mathias officials were going to submit the plans for approval with the city on March 31 but postponed the submission until April. Arthur Thurman, president and COO of Mathias Properties, said the company wants to build two 14,750-SF warehouses on Agnes Drive adjacent to two warehouses it has already built.
Two larger warehouses, approximately 60,000 SF each, would be built behind the smaller warehouses.
Thurman said Mathias, which has several warehouses under construction in Rogers, plans to build the Tontitown buildings as “specs,” meaning no tenant has pre-leased space.
Mathias recently completed a 78,750-SF building on Hudson Road in Rogers as a spec building, and more than half of the space was claimed during construction.
“What we have seen in recent history, which is another indicator of what’s happening, is once we start construction we typically are winding up with leases before we are finished,” Thurman said. “That’s what happened in Rogers.”
Thurman said Mathias has purchased five more lots in the past few months on what is known as the Hudson Corridor. Mathias has two smaller warehouses under construction next to the 78,750-SF building and expects to build some combination of warehouse-office space on the five acquired lots.
Sign up for Daily E-news
