Beaty Capital Group Inc. , a Rogers-based family investment firm, is proposing a 16-story, 207-room entertainment allocation in Rogers’ Pinnacle Hills neighborhood.
According to a large-scale progression plan filed with the city, the 1. 57-acre site is at 3529 S. Pinnacle Hills Parkway. Ruth’s Chris Steak House is here. The upscale dining spot opened in 2007 but will move later this year to a larger venue. underneath a nearby structure.
Clinton Bennett, principal of Bennett Commercial Real Estate at Rogers, said Beaty Capital Group owns the asset contract. Chops Properties LLC, led by Andy Woodman, is the owner.
Lance Beaty, founder and executive leader of Beaty Capital Group, showed the plans for progression in an interview with the Northwest Arkansas Business Journal on Monday, March 11. Beaty Capital Group focuses primarily on real estate and investments in small markets in the central United States. The company develops, manages, promotes, and produces music and entertainment nationally through its TempleLive brand.
“In this kind of development, there are a hundred things that need to be done to make this happen,” Beaty said. “We’re at number 21. We’ve gone through zoning. We now live in a great Situation at scale. Based on our initial meetings, we are confident that this is a suitable assignment for this site.
Beaty said the progression plan reflects the scale of conversion of the Northwest Arkansas real estate market. He also pointed to another Pinnacle Hills task to underscore this point. Georgian developer SJC Ventures is building an 80,498-square-foot mixed-use center called Pinnacle. The 12 acres are located on the northwest corner of New Hope Road and South Promenade Boulevard. Whole Foods Market is the primary tenant.
“I fly across the country every week and meet other people who come from all over the country to close deals,” he said. “We just want to anchor [a TempleLive location] right here in Northwest Arkansas. “
Beaty said Rogers’ assignment represents an investment “in excess of $150 million. “It is a partnership with Dream Hotel Group, founded in New York. They’re running an assignment in Cleveland.
BCG has three former Masonic temples in Arkansas, Kansas, and Ohio where TempleLive hosts concerts and shows nationwide. The three sites combined employ about 120 people, according to Beaty.
The company acquired the historic 53,000-square-foot Masonic Temple in downtown Fort Smith in November 2014 in a $2. 5 million deal. The three-story construction at 200 N. 11th St. It was built in 1928 and has many assembly halls and a theater. with capacity for 900 people. It reopened as TempleLive in August 2017 after approximately $5 million in renovations.
The Wichita Scottish Rite Center, in downtown Wichita, Kansas, acquired through BCG in early 2019. Terms of the personal transaction were not disclosed. The Wichita facility was first built between 1887 and 1888 for the Young Men’s Christian Association and sold to the Scots. Rite Masons in 1898. La building was enlarged in 1907 and 1956.
Beaty Capital Group the Cleveland Masonic Temple in 2017 for $725,000.
According to Beaty Capital Group’s Rogers Progression Plan – TempleLiveNWA/Dream Hotels – the company’s proposed mixed-use allocation totals approximately 305,000 square feet and will feature a 2,200-seat concert venue. Beaty said the hotel will feature a pool and a rooftop bar. On a lower floor is planned an undisclosed national restaurant. He said it would be one of two places to eat available at the hotel. The other is on the fourth floor, anchored in a pedestrian street.
Beaty said the real estate deal with Rogers is expected to close by the end of the summer. Once the approval is finalized, it expects to begin structuring in the first quarter of 2025.
Daniel Ellis of the engineering firm Crafton Tull in Rogers is in charge of the hotel’s plan. Studio 6 Architects in Fort Smith is also in charge of the project. After any comments or revisions to the plan, it will be presented to the city’s planning commission later this year.
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