Businesses filling out final area of Pleasant Crossing in Rogers

ROGERS -- Developers are working on the final phase of a retail area in south Rogers.

Whisinvest Realty is developing the 26 acres behind Hank's Fine Furniture in Pleasant Crossing. The land is between Interstate 49 and Dixieland Road.

In other business

The Rogers City Council on Tuesday approved:

• An agreement to grant a utility easement to Carroll Electric Cooperative Corp.

• A $459,265 Community Development Block Grant and appropriating the grant revenue and expenditures to various accounts

• An agreement with the Walton Family Foundation to accept grant money up to $487,000

• Accepting a Staffing Adequate Fire and Emergency Response grant from the U.S. Department of Homeland Security to provide additional personnel to the Rogers Fire Department

• An agreement with Little Flock to provide emergency medical services to the incorporated areas of Little Flock

• Rezoning 9.25 acres at 4504 S. Rainbow Road

Source: Staff report

Burke Larkin, senior vice president, said retail store Northern Tool + Equipment will be built on the property. The Minnesota-based store that sells tools, air compressors, generators and welding equipment has a store in Little Rock, its only other location in Arkansas, according to its website.

Three other businesses are in the works, but Larkin would not release details.

Whisinvest Realty plans to build several roads through the 26 acres, he said.

The City Council on Tuesday unanimously accepted the final plat of Pleasant Crossing, Phase III. Back in May, the Council approved a request from Duluth Trading Co. to rezone about 2 acres between I-49 and South 27th Street near Pleasant Crossing from agricultural to highway commercial zoning district.

Businesses operating in the area include Burlington Coat Factory, Mattress Firm, Ross Dress for Less, Famous Footwear, Snap Fitness and Papa Murphy's Pizza.

Raymond Burns, president and chief executive officer of the Rogers-Lowell Area Chamber of Commerce, said development in south Rogers is a natural progression.

"It's prime for development. It's ready for development," Burns said.

Voters recently approved a $299.5 million bond issue. Among the proposed projects are building three to five overpasses across I-49.

"Hopefully, we'll see an overpass in that area before long," Burns said.

Burns said the Chamber of Commerce worked hard to get an Interstate 49 exit for the Pinnacle Hills Promenade, but for Pleasant Crossing, an overpass would be better to help control traffic.

Ben Cline, the city's public relations specialist, said the city is set on building three overpasses -- at Magnolia Street, Oak Street and uptown near the Arkansas Music Pavilion -- and is looking at a possible fourth overpass.

Pleasant Crossing has consistently seen new businesses pop up over the last several years. Whisinvest Realty is responsible for Pleasant Crossing Shoppes, that includes The Grove Comedy Club, Moe's Southwest Grill and Super Cuts in front of the Walmart Supercenter. Whisinvest broke ground on the development in 2014. The next year, Rogers' Planning Commission approved six retail buildings north of Ashley Furniture.

Although the retail submarket has been under pressure nationally, it has showed resilience in Northwest Arkansas in the first half of the year, according a recent report by the Center for Business and Economic Research at the University of Arkansas. The center in August released the Arvest-sponsored Skyline Report on commercial real estate.

During the first half of 2018, commercial building permits for Northwest Arkansas totaled $188.5 million, a 61.4 percent increase from the $116.8 million in permits issued in the first half of 2017, according to the report.

Retail vacancy for Rogers in the first half of this year was 6.9 percent, according to the report.

Rogers had 214,986 square feet of available retail space during the first half of the year. That's down from 286,242 square feet during the first half of 2017.

Jeff Cooperstein, an economist at the University of Arkansas' Walton College of Business, worked on the Skyline Report. He explained that although there appears to be plenty of retail space, more is being built because most of the available space is older. Having a retail vacancy rate under 10 percent is generally good, he said.

NW News on 10/15/2018

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