Business Scapes – from The Morning News in Northwest Arkansas

REAL ESTATE OPENING

 

Reported By: Anita French

 

Last updated Saturday, December 1, 2007 7:59 PM CST in Business

 

In Fayetteville, recent arrival Crye-Leike is opening another real estate office in Northwest Arkansas. The company is building an 18,900-square-foot facility on North Remington Drive at a cost of around $1.47 million. Construction is expected to be completed by late spring.

 

The new office is replacing a temporary one on Front Street in Fayetteville, said company spokesman Mike Machak. Crye-Leike will occupy around 7,000 square feet of the new Fayetteville building and lease out the remaining space, Machak said. About 60 people will work at the site, he said.

 

Crye-Leike already has offices in Springdale, Rogers, Bentonville and Gentry, despite being so new to the area it’s not listed in the telephone book yet. It is a full-service real estate company started in 1977 in Tennessee by Harold Crye and Dick Leike and is the nation’s fourth-largest real estate company with sales of more than $6.1 billion last year, according to the company’s Web site.

 

Machak said Crye-Leike also is in the final stages of negotiation for building another office near the University of Arkansas in Fayetteville.

 

Little Rock-based Bell-Corley Construction is building the Crye-Leike office. Another of its local projects is the Shoppes at the Mill in Johnson, a $1.3 million multi-use facility. Owned by Maverick Properties, the commercial project is expected to be completed by February 2008, a Bell-Corley spokesman said.

 

Anita French is a business reporter with The Morning News. If you have new business or development news, please e-mail: afrench@nwaonline.net.