Page 5 - Commercial Real Estate Guide 2016

Lobby, Ulta and Texas Roadhouse as oc- cupants. Developers have estimated that this center will create more than 500 jobs and generate $1.7 million in annual sales- tax revenue.
Saline County stakeholders — such as those with the Saline County Economic Development Corp., which works to re- cruit businesses and retain existing ones — recognize the impact of these retail developments.
“Saline County is a regional shopping center,” said Lamont Cornwell, executive director of the Saline County Economic Development Corp. “We get people from as far away as Magnolia and Arkadelphia and Hot Springs Village.”
Cornwell said the county’s proximity to an interstate is actually a great benefit. Along Interstate 30 between Little Rock and Texarkana, the development potential just isn’t quite the same in other towns as it is in the Saline County area, he said. From exit 126 to exit 114, Interstate 30 creates a path for what Cornwell sees as a possible “12-mile shopping center” that could one day fill the land with hotels, restaurants and even more retailers.
“We ought to view those 12 miles as a shopping center, where you can ... spend the night; you can eat; you can buy clothes; you can buy sporting goods,” he said. “It should be marketed and sold as a 12-mile everything-you-want-and-need.”
In the past, he said, a major selling fac- tor such as location was on the top of the list for companies scouting potential sites for their businesses. But now, an area’s workforce and quality of life — includ- ing schools, green space and walkability — have made their way to the top. To Cornwell, Saline County’s strong commer- cial demographic helps the county ace the checklist for many companies and developers.
Other businesses aiming to boost the economy of Saline County include the planned Career and Technical Education Center near exit 114 and Access Control Devices Inc., which is moving its head- quarters from Little Rock to the former Harvest Food space in Benton. Access Control Devices Inc. produces print-man- agement software, is the country’s larg- est distributor of PaperCut products and serves customers such as Toshiba, Corn- well said.
The Career and Technical Education Center, which will serve the county’s sev- en school districts, will feature classes and programming to train students for the workforce.
But if it were up to Cornwell, even more industries would bring their head- quarters to the area.
“I’m never satisfied. If we get one, I want two; if we get two, I want four,” he said.
When meeting with potential stake- holders, Cornwell said, he is mindful of what could be a negative to the commu- nity, such as placing a food-processing plant that emits a not-so-pleasant odor near a residential area.
“I try to be real careful about the type of industry I recruit here,” he said.
As Saline County continues to attract big-name companies, Cornwell, who has lived and worked in the area since 1979, said it’s important to remember the home- grown businesses that also contribute greatly to the local job market.
“I was a businessman here for 10 years, and I appreciated when the chamber of commerce stopped by my office and said, ‘Can I help you?’” he said.
Cornwell said the county doesn’t see neighboring counties such as Pulaski County as commercial competition — they actually work together to promote the region’s growth.
“We can no longer live in asylum,” he stressed.
Challenging that asylum to bridge the metro area’s industrial potential is the Metro Little Rock Megasite, a 2,045-acre stretch along Interstate 530 in Saline County that “represents limitless growth opportunities for business and industry,” according to the corporation. The me- gasite’s access to an airport, a river, a growing metropolitan area with major businesses and other interstates makes the megasite a great location to sell. But the corporation found that using “Saline County” created challenges.
“When we marketed our megasite, it was the Saline County Megasite,” Corn- well said. “When we changed the name to the Metro Little Rock Megasite, then that meant something to a recruiter because he knew where Little Rock is.”
The metro area as a whole — not just Saline County — includes various amenities Cornwell can sell to those who might ask, “When I’m working, what can my family do?” he said. The Clinton Presidential Center in Little Rock and Hot Springs National Park are attractions within a reasonable drive for those in Saline County.
As far as more long-term goals for the county, Cornwell said it’s best to stay ready for any possible changes
“What we do today might not be what’s needed in the marketplace tomorrow,” he said.
But Cornwell does believe that the Sa- line County area, including those who im- pact its population and business growth, will continue to be an attractive region for commercial development.
“We have been very blessed here to have a good commercial demographic,” he said.
FAULKNER COUNTY
SUNDAY, MARCH 27, 2016 • ADVERTISING SUPPLEMENT TO THE ARKANSAS DEMOCRAT-GAZETTE • CENTRAL ARKANSAS COMMERCIAL REAL ESTATE GUIDE 5W
The new Baptist Heath Medical Center-Conway is currently under construction on Exchange Avenue. City officials hope the new hospital will help attract more business to the area.
Building bridges
Conway, Faulkner County prepare for econom ic developm ent
by CODY GRAVES Special Sections Writer
Conway, the bustling county seat of Faulkner County, has had a wellspring of development in the last several years, and that development is leading to more busi- nesses moving into the area.
One of the biggest projects that is pro- jected to have a significant impact in the area is the construction of the new Baptist Health Medical Center-Conway, located on Exchange Avenue. Set to be completed in the fall of this year, the 264,000-square-foot facility will have 111 beds, eight operating rooms and a Level III trauma-center emer- gency room. Services will include labor and delivery, surgical care, orthopedic care, im- aging services, respiratory care, physical therapy and emergency service.
“I think you’ve already seen some more development that is directly attributed to the hospital,” said Jamie Gates, executive vice president of the Conway Area Cham- ber of Commerce. “Most visibly are some sizable medical office buildings just to the northwest. I think we’re going to see more projects like [the office building] when the facility is open.”
Gates also said he expects the hospital will attract more consumer services such as restaurants and banks to the area due to the large volume of employees and visitors to the hospital.
Just across Interstate 40 from Exchange Avenue, a new shopping development is in its early stages. Known as Lewis Crossing,
this 441,871-square-foot development will feature a variety of national brands includ- ing Academy Sports, Ross Dress for Less, Bed Bath and Beyond, Petco, Ulta and Sam’s Club.
Gates said these new shopping devel- opments will hopefully attract visitors from around the area, including Beebe, Heber Springs, Maumelle, Russellville, Searcy and more.
“I think as we continue to accumulate more services, jobs and shopping options all in that one area, you’re going to see that trade area really kind of firm up,” he said.
A little farther north from Dave Ward Drive, the first stages of development are underway for a new interstate crossing, which will help connect the east and west sides of town. Located just south of Oak Street, this new overpass will connect the Conway Commons shopping center on the east side of Interstate 40 with the planned Central Landing development. Central Land- ing is expected to be a mixed-use lifestyle development that will blend retail, restau- rant and residential space. City officials cite Hendrix Village as the closest example to what Central Landing will be like. Central Landing will occupy the former site of the Conway airport.
The public side of the project is currently underway, which includes construction of the overpass. Gates said once the overpass is complete, it should help relieve some of the traffic congestion from Oak Street, and it may become a preferred route to connect the east and west sides of town.
CODY GRAVES/ARKANSAS DEMOCRAT-GAZETTE