SJC Ventures of Atlanta is beginning its Pinnacle Springs development in Pinnacle Hills in Rogers.
The project will feature 80,000 SF of retail space, anchored by a 37,000-SF Whole Foods store and two North Carolina-based restaurants: Firebirds Wood Fired Grill of Charlotte and Tupelo Honey Southern Kitchen & Bar of Asheville. The restaurants are scheduled to open in late 2024.
A 360-unit apartment complex will be attached at the 10-plus-acre site, which is just east of Interstate 49 on New Hope Road.
SJC acquired the tracts in several transactions, including three totalling $9.1 million to subsidiaries owned by Johnelle Hunt, co-founder of J.B. Hunt Transport Services Inc. of Lowell.
Another transaction was a $4 million purchase of 1 acre that includes the 12,478-SF office of Core Architects, which plans to move. The sellers were Dusty Graham, Robert Kelly and John Langham. Graham is president of Core, Kelly is president emeritus and Langham is a former principal at Core.
SJC took construction loans of $57.7 million and $30.9 million from Arvest Bank for the project.
Collier Re-purchase
Collier Drug purchased its pharmacy location on Willow Creek Drive in Johnson.
Collier Diversification Specialities LLC, led by Collier Drug owner Mel Collier, paid $2.65 million for the 9,634-SF facility, which includes a medical clinic. This past summer, he paid $900,000 for a 3-acre lot adjacent to the location.
Collier sold the property originally for $2.1 million in 2014. Grand Savings Bank provided a $2.3 million loan.
The facility is just north of Willow Creek Women’s Hospital. The seller was DSR Properties LLC, led by Darryl and Martha Riddell of Springdale. Darryl Riddell, who owns South Delta Aviation in Fayetteville, bought the property for $2.25 million in 2016.
Brightwood Shopping
A 31,634-SF shopping center in Bentonville sold for $4.55 million.
RTA Investments LLC, led by Juan Trujillo and Antonio Trujillo of Rogers, bought the Brightwood Center on 3.75 acres at SW Regional Airport Boulevard.
The seller was Brightwood Business Park LLC, led by Michael Charlton and Kelly Charlton.
Rogers Warehouse
A warehouse in Rogers sold for $3.3 million to a Missouri energy company.
Raven Resources Corp., through its Raven Rogers LLC, bought the 20,880-SF facility on 2.3 acres at North 13th Street. The group is led by Chairman Paul Scribner.
The facility has manufacturing, warehouse and office space. It is the former home of Evans Enterprises Inc. of Norman, Oklahoma, an electric equipment and services company.
CS Bank of Eureka Springs provided a $2.7 million loan. The seller was 13th Street Holdings LLC, led by a partnership of Matt Sitton, Benjamin Butler and Matt Ahart. They acquired the property for $2.1 million in 2022.
First Community Bank
First Community Bank of Batesville is ready to move into Fayetteville after paying $1.7 million for a 3,747-SF bank building on Wedington Drive.
The building used to be a Bank of Fayetteville. First Community Bank said it will start renovations before the end of the year. It will be the bank’s second location in northwest Arkansas; it already has an office in Rogers.
The seller was Farmers & Merchants Bank of Stuttgart, led by market President Matt Mason. Farmers & Merchants operates as The Bank of Fayetteville in northwest Arkansas.
Berry Apartments
A nail salon owner paid slightly more than $1 million for an apartment complex on Berry Street in Springdale.
Dong Ngo, through his Adella Nail Bar LLC, bought the 10-unit complex, which totals 8,424 SF. Intrust Bank of Wichita, Kansas, provided a $500,000 loan. The seller was EDP 100 Enterprises LLC, led by Kaleb Plank of Bentonville. Plank acquired the property for $600,000 in 2020.
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