36 replies to this topic

[masons_dad1]

Mith242, on Dec 19 2007, 04:59 PM, said:

Cool, thanks for the update.  I had heard about an IMAX a while back somewhere in Rogers.  I had wondered if it fell through or what.

The deal with IMAX didn't fall through... it never existed. IMAX had denied any communication ever existed between them and the developers of Pleasant Crossing. I wouldn't be surprised if that is still the case. There was a lot of hype about Pleasant Crossing that turned out to be just that and a fancy 3d plan isn't going to change anything. At least the developer isn't acting so overconfident like some other developersthat turned out to be living in a fantasy world.

I'll start getting excited when I see ground broken, until then it's just another attempt at developers reviving the now dead hype that NWA has gotten used to.

[cocothief]

I wish there was a way to turn Masonsdad's pessimism into bio-diesel or something.

Some days I think it would solve the energy crisis.

[Mith242]

Now, now, let's not go there.  Even I have to admit to being a bit negative over all the development news as well.

[masons_dad1]

cocothief, on Dec 28 2007, 03:31 PM, said:

I wish there was a way to turn Masonsdad's pessimism into bio-diesel or something.

Some days I think it would solve the energy crisis.

The nice thing about being pessimistic is many times I'm surprised in a good way that I'm wrong, but being an optimist usually gets me just one let-down after another.

[masons_dad1]

RemusCal, on Dec 19 2007, 05:50 PM, said:

Just thought I would let everyone know that in today's paper, Pleasant Crossing plans were announced as revised and is now a bigger project than it once was.  In the plans, it shows:

IMAX Theater
Office Park with multiple buildings
Outlet Mall with Residencies and Condos above the shops
Big Box Retailer Behind Walmart
Nonprofit sports complex
Fast Lane Bowling Entertainment
A restaurant row area with Boardwalk over a small water feature
2 Full Service Hotels, one with an indoor water park
Amphitheater

This is really exciting and there is a reference to The Legends in Kansas City, which is a similar development.  I think this type of development will do very well in NWA.

Fast Lane Bowling Entertainment will open on July 1! This will be the premier bowling and family entertainment destination in the region. At least it'll be geared more for the whole family than ChuckE.Cheeses, Lokomotion and Fun City USA. Their website: www.fastlanebowl.com.

1 down, 8 to go! Pleasant Crossing shut down their website and handed leasing over to a realty company so this may be all we see for a while, but it's far better than nothing.

[Mith242]

Looks like the developers who own Pleasant Crossing are selling the development to focus on other future developments.  

http://www.arkansasb...45.54928.126490

[zman9810]

Mith242, on Apr 28 2009, 05:20 PM, said:

Looks like the developers who own Pleasant Crossing are selling the development to focus on other future developments.  

http://www.arkansasb...45.54928.126490

This isn't exactly a vote of confidence in the area's future. I would think that unless a developer were in danger of losing the property anyway they would hang on to it until the economy recovers. This is a prime piece of land for the future being right along I540 with access being improved and a central location in NWA.

[Mith242]

zman9810, on Apr 29 2009, 12:46 PM, said:

This isn't exactly a vote of confidence in the area's future. I would think that unless a developer were in danger of losing the property anyway they would hang on to it until the economy recovers. This is a prime piece of land for the future being right along I540 with access being improved and a central location in NWA.

I should mention the whole piece of property isn't for sale, just the undeveloped part.  We mainly hear about the housing glut in the area but this is an example of being an abundance of office space in the area as well.  Could be a good find for some developer.  But I imagine they'll have to be willing to wait around for the economy to improve and for the abundance of office space, housing and such to dwindle down as well.

[Julles]

Does anyone know how to find out what's being built just east of Golden Corrall at Pleasant Crossing?    They are doing dirt work.

[comreguy]

Julles, on 17 October 2011 - 01:16 PM, said:

Does anyone know how to find out what's being built just east of Golden Corrall at Pleasant Crossing? They are doing dirt work.

It is a Firestone Tire Center

[Julles]

Ok, thanks.    Good to know, even if it's not as thrilling as I had hoped.

[nupe]

Need a Cheese Cake Factory!

[bubba72704]

arkansas business just ran a story that Wisenhunt group from Little Rock just purchased 375 acres of land (various parcels) around I-540 and Pleasant Grove Rd. for $19 Million.  This is the first major speculative land buy I've heard of in years.  Apparently an all cash transaction.  Should be interesting what the future holds for that area.

[Mith242]

bubba72704, on 09 March 2012 - 08:28 PM, said:

arkansas business just ran a story that Wisenhunt group from Little Rock just purchased 375 acres of land (various parcels) around I-540 and Pleasant Grove Rd. for $19 Million.  This is the first major speculative land buy I've heard of in years.  Apparently an all cash transaction.  Should be interesting what the future holds for that area.

Interesting.  I'm curious to see if they have specific plans for it or just doing it because it's a good investment and sell it off at some future time.

[bubba72704]

From the way the article reads it sounds like this is an investment holding and that they will sell off pieces over time.  I found it interesting that the partners in the group were quoted as saying they believe that Benton county real estate is "poised for a rebound".  I guess we'll see.

[zman9810]

It would be absolutely fascinating to find out what that land was valued at in 2006, consider what it was bought for now and follow what it will sell for in the next  5-15 years. I would think it would make a case study for the effects of boom and bust economics.

[comreguy]

zman9810, on 10 March 2012 - 11:21 PM, said:

It would be absolutely fascinating to find out what that land was valued at in 2006, consider what it was bought for now and follow what it will sell for in the next  5-15 years. I would think it would make a case study for the effects of boom and bust economics.

The value that Whisenhunt received by purchasing all three large Bank of America owned tracts was outstanding. Purchased $70-$80 Million worth of land at the imajor development ready intersections in Rogers for $19 Million. I would bet after development over the next 15-20 years, they realize $190-200 Million.

Very bold for an individual to invest $19 Million in CASH into real estate. That's the best part. 375 acres of distressed property pulled off the market.

There is absolutely zero debt. A game changer...