2014-03 Faulkner County Business Journal

MARCH 2014

APEX Men’s Health / Seated, from left: John Fuller, Chief Operating Officer; Dr. Jeremy Warford, Chief Physician; John Larmoyeux, Clinic Manager. Standing, from left: Teresa Knudson, Executive Assistant; Chad Lawerence, Assistant Manager; Jeff Hollaman, Patient Care Technician; Gary Johnson, Patient Care Technician.

THE PINNACLE OF HEALTH

CONWAY’S FIRST TESTOSTERONE THERAPY CLINIC, APEX, OPENS IN APRIL, page 4

2D — Sunday, March 16, 2014

Editorial

Be our guest

In 2000, the Conway City Council passed an ordinance creating an Advertising and Promotion Commission. That initial ordinance included a tax on hotel stays. In 2005, a tax on prepared food was added. The proceeds from that tax built the new baseball and softball parks. The Expo Center and new fairgrounds were financed with A&P tax collections. A&P taxes have “advertised and promoted” the city in a number of ways, and yes, the city even bought a Christmas tree with the money.

We can argue about the merit of any one single project. But what no one can dispute is that attracting visitors is now a major part of Conway’s economy. Consider this: In 2013 hotels and restaurants combined for more than $180 million in sales — approximately 11 percent of Conway’s retail economy. Less than a decade ago, who would’ve imagined Conway as a destination for travel dollars?

Simply put, visitors have sustained and grown our hotel and restaurant industry. Consider this weekend: More than 100 youth baseball teams are playing at City of Colleges and Conway Station Parks.

Concurrently, more than 900 cheerleaders from Arkansas and Texas are competing at Sonshine Academy. This is on the heels of a 7A state basketball tournament that had to turn away spectators for a mid-afternoon game on a Monday. That’s one week in March. Every one of those events was directly supported by the A&P Commission.

Conway will host more than 40 baseball, softball, volleyball and basketball tournaments in 2014. This does not include tournaments hosted by our colleges and high schools. These are tournaments that choose a destination. There will be approximately 40 events at the Conway Expo Center and Fairgrounds, not counting our own County Fair. The Arkansas Shakespeare Theatre and other cultural amenities only add fuel to the fire.

Conway is well-served by its A&P tax.

The proceeds have provided facilities and a means of promotion commensurate with our incredible location and amenities.

Those things have worked together to create a new economy in Conway.

Faulkner County Business Journal

To subscribe call (501) 329-2927 • Log Cabin Democrat

New York City is next stop in Chamber travel program The Conway Area Chamber of Commerce is providing individuals and families with an opportunity to experience The Big Apple during the 2014 holiday season.

The five-day getaway to New York City will take place Dec. 1-5. Sightseeing tours will include Greenwich Village, the Statue of Liberty, Central Park, the Empire State Building, Wall Street, the 9/11 memorial and other world-renowned landmarks. Attendees will also experience the

Christmas Spectacular at Radio City Music Hall, a Broadway show, the Metropolitan Museum of Art and shopping at Sak’s Fifth Avenue, Bloomingdale’s and Macy’s.

A special travel presentation and interest meeting will take place at the Chamber, located at 900 Oak St., on Wednesday, April 2, at 4 p.m. To RSVP, call 501-3277788.

For those who make their reservations before June 1, the cost of the trip is $2,779. The cost after the

early bird deadline is $100 more. This price includes four nights in double-occupancy hotel rooms, five meals, round-trip airfare from Bill and Hillary Clinton National Airport, air taxes and fees/surcharges, and hotel transfers. A cancellation waiver and insurance of $70 per person is not included in the price.

To learn more about the New York City Holiday Trip or to download a reservation form, visit ConwayChamber.org and click on the New York City banner

scrolling at the top of each Web page.

The Conway Area Chamber of Commerce offers allinclusive, national and international excursions through Collette Vacations — an international tour, cruise and vacation agency.

Through the partnership, the Chamber is able to provide locals with a hasslefree travel opportunity at a group rate. Collette Vacations is a family-owned business offering 150 tours to destinations on all seven continents.

The Purple Cow opens March 31 The Purple Cow Restaurant will open Monday, March 31, in The Village at Hendrix. The Conway location will be the fourth for the Little Rockbased eatery. Ken Vaughan, chief operating officer and operating partner for Purple Cow Restaurants, said Conway and The Village at Hendrix are a perfect fit for the diner.

“Conway is such a growing community, and we recognized that the city would be a great place to grow our concept because of its pro-business environment,” he said. Vaughan added that The Village at Hendrix is an “exciting and cool place” that mirrors the atmosphere found at The Purple Cow. “With its great restaurants, businesses and student housing, The Village attracts people of all ages and has become a destination spot for Conway,” he said. “The Purple Cow is also a destination spot and a great venue for families.”

The Purple Cow Restaurant is known for its family-friendly atmosphere and classic diner specialties,

particularly its shakes made with Yarnell’s Ice Cream and its burgers.

During the grand opening week, Yarnell’s old-fashioned delivery truck and Scoop, the ice-cream truck driver who serves as the mascot for the company, will be on-site at The Village

along with Polly the Purple Cow. The Purple Cow will open seven days a week at 11 a.m. and will close at 9 p.m. Sunday-Thursday and 10 p.m. Friday and Saturday. Brunch will be available on Saturdays and Sundays from 11 a.m. until 2 p.m.

Log Cabin Democrat • Find our online edition at www.thecabin.net

Faulkner County Business Journal

Leadercast tickets still available Although the early bird deadline to register for Leadercast® has passed, tickets are still on sale. Community business leaders can access the knowledge and experience of world-renowned leaders by attending the global simulcast at Central Baptist College on May 9, 2014.

Individual tickets are available for $75.

Business can purchase a group package of 10 tickets for $750. Sponsorships are also available.

Leadercast is broadcast live from Atlanta, Ga., to hundreds of sites around the world,

Leadercast exists to change positively the way the world things about leadership. This year’s theme is ‘Beyond You.’

including Conway. This year’s speaker lineup includes the following: • Andy Stanley, leadership author and communicator

• Archbishop Desmond Tutu, Nobel laureate and human rights activist (live from Cape Town, South Africa) • Malcolm Gladwell, journalist and best-selling author of “The Tipping Point” and “Outliers” • Randall Wallace, screenwriter, director, producer and songwriter (“Braveheart,” “Secretariat”) • Laura Schroff, former ad sale executive and best-selling author of “An Invisible Thread” • Dr. Henry Cloud, clinical psychologist and leadership consultant • Simon Sinek, bestselling author of “Start

with Why”and leadership expert • Laura Bush, First Lady of the United States, 2001-2009 (via exclusive video interview) Leadercast exists to change positively the way the world thinks about leadership. This year’s theme — Beyond You — challenges leaders to focus outward rather than inward.

For more information about Leadercast, visit www.leadercast.com.

For local ticketing information, call the Conway Area Chamber of Commerce at 501-327-7788 or visit ConwayChamber.org.

Salter Properties scheduled to host networking event at Metro Square Salter Properties, a real estate development and property management firm, will host the Conway Area Chamber of Commerce’s quarterly Business After Hours at Metro Square, located at 1023 Main Street in downtown Conway.

The networking event will take place Thursday, April 3, from 5 to 6:30 p.m.

Formerly known as

the Regions Bank building, Metro Square is a newly renovated office space.

Tenants are able to lease the upstairs part of the building, and Regions Bank is still located downstairs.

The Flats at Metro Square will be the residential component of the project.

At the Conway Downtown Partnership’s

2013 Annual Meeting — where the project was announced — Salter Properties’ vice president Brent Salter described the residences as having a “contemporary, downtown, urban” feel.

It will hold at least 60 units.

Attendees are encouraged to bring business cards, as Business After Hours allows

members to network, strengthen professional relationships and develop new opportunities to work with fellow Chamber members. The event is free to Chamber members and their employees. Complimentary hors d’oeuvres will be provided.

For more information about Business After Hours, call the Chamber 501-327-7788.

Downtown’s annual ‘Spring Open House’ April 6 Several downtown annual Spring Open typically closed on Sunmerchants will partic- House shopping event on day will open their doors ipate in the Conway Sunday, April 6. that afternoon from 1-4.

Downtown Partnership’s Many stores that are To stay informed

about events happening downtown, visit the Partnership’s website at DowntownConway.org.

Sunday, March 16, 2014 — 3D

Conway Economy at a Glance Unemployment Rate* December US................................................... 6.7% Arkansas...................................... 7.4% Faulkner County ..................... 7.0% Conway........................................ 7.2% *Faulkner County & Conway not Seasonally Adjusted Sales Tax Collections Conway* December 2013................................... $2,300,571 2012................................... $2,164,891 Percent Change 6.3% Annual 2013.................................$23,235,891 2012.................................$22,944,163 2011.................................$22,366,464 Percent Change 2013-2012 1.3% *Tax Rate 1.75% Faulkner County* December 2013.......................................$818,592 2012.......................................$765,541 Percent Change 6.9% Annual* 2013................................... $8,588,835 2012................................... $8,465,686 2011................................... $8,279,301 Percent Change 2013-2012 1.5% *Tax Rate 0.5% Restaurant Sales* January 2014.................................$13,156,793 2013.................................$12,528,739 Percent Change 5.0% Annual Sales 2013.............................. $165,124,807 2012.............................. $161,318,563 2011.............................. $147,820,786 Percent Change 2013-2012 2.4% *Including mixed drink sales Hotel Sales January 2014................................... $1,256,502 2013................................... $1,032,478 Percent Change 21.7%% Annual Sales 2013.................................$18,556,911 2012.................................$18,683,676 Percent Change 0.7% Conway Building Permits Single Family Homes Year to Date (February) 2014.......................................................6 2013....................................................17 Percent Change -64.7% Annual 2013................................. 147 Permits 2012................................. 186 Permits

2011................................. 153 Permits Percent Change 2012-13 -21.0% Average Construction Cost* Annual 2013.......................................$228,275 2012.......................................$207,537 2011...................................... $204,387 Percent Change 2012-13 10.0% *Not including land or lot improvements Average Square Footage* Annual 2013.............................................. 3,002 2012.............................................. 2,910 2011.............................................. 2,814 Percent Change 2012-13 3.2% Average Construction Cost Per Square Foot* Annual 2013............................................$76.04 2012............................................$71.33 2011............................................$72.64 Percent Change 8i2012-13 6.6%% * Total under roof Lottery Sales Faulkner County Annual 2013.................................$17,038,277 2012.................................$16,943,909 2011.................................$16,768,678 Percent Change 2012-13 .06% Total State Annual 2013.............................. $432,932,799 2012 ............................ $452,245,215 2011.............................. $474,879,701 Percent Change 2012-13 -4.3% Natural Gas Severance Tax Distribution Conway Annual 2013.......................................$276,523 2012.......................................$162,457 2011.......................................$254,822 Percent Change 2012-13 70.2% Faulkner County Annual 2013.......................................$224,455 2012.......................................$131,418 2011.......................................$204,052 Percent Change 2012-13 70.8%

Information provided by pulseofconway.com

4D — Sunday, March 16, 2014

Faulkner County Business Journal

To subscribe call (501) 329-2927 • Log Cabin Democrat

COVER STORY

Conway’s first testosterone therapy clinic to open in April APEX Helps Men Reach the Pinnacle of Health

In April, a Little Rockbased clinic specializing in testosterone therapy and holistic men’s health will expand to Conway.

APEX Men’s Health will open its second location in Olympia Plaza, located at 2215 East Oak St., Suite 4.

In August of 2012, chief physician Dr. Jeremy Warford, a boardcertified family practitioner, founded the first physician-run, testosterone therapy clinic in the state. Clinical testosterone therapy is a simple treatment for men with hypogonadism, a condition in which the body does not produce enough testosterone. Low T, as it is commonly referred, is defined by low serum levels of testosterone and is accompanied by a number of symptoms, including fatigue, moodiness and depression.

Dr. Warford, a graduate of Hendrix College, got the idea for the clinic from fellow Hendrix alumnus Jeremy Wise.

While training to become a Navy SEAL, Wise read about testosterone therapy and shared with Dr. Warford his idea of treating men with Low T. “At the time, I was working in emergency medicine and did not have a desire to shift

gears to a clinic setting,” Dr. Warford said. “It was the last time I would speak to Jeremy.” Wise was killed in December 2009 in Afghanistan. A memorial is displayed in his honor on the campus of Hendrix College.

In the fall of 2011, another friend of Dr. Warford approached him with a similar idea to open a clinic specializing in testosterone therapy. “I felt the time was right,” he said.

“We feel like we’re doing something that has a great need. It’s a lifechanging treatment for a lot of our patients. We’re able to take care of some

of those health conditions that they’ve never had investigated.”

After an initial appointment to determine if a patient is a candidate for testosterone therapy, treatment in the form of injections begins.

APEX administers injection therapy every seven to 14 days. Unlike topical gels and creams, injections are not transferable to others, and the dosage is specific. A physician monitors the patient’s progress, and most patients experience some benefit within four weeks.

“The procedure is quick and convenient,

lasting no more than 15 minutes from the time the patient arrives to the time he leaves,” Dr. Warford said. “No appointment is necessary for the injections. Men can simply walk in when they have time.”

In addition to treating men suffering from Low T, APEX Men’s Health helps men combat obesity and smoking through weight-loss and smoking cessation programs. It also offers health screenings for heart disease, colon cancer and other diseases.

“We have the opportunity in this unique setting to address these is-

sues because patients come to see us several times a month,” Dr. Warford said. “Our focus this week, for example, is on erectile dysfunction, which can be a predictor of heart disease.”

Because APEX Men’s Health focuses on total men’s health, treatment does not necessarily stop once testosterone levels return to normal.

The clinic’s motto is “Be a Better Man,” which Dr. Warford says transcends physical health.

“The crux of what we do that really sets us apart from any clinic — regardless of the type of clinic it is — is that we’re

out to treat our patients not just physically but emotionally and spiritually. We want to work on all areas of men’s health and well-being: the mind, body and soul.”

Dr. Warford said APEX Men’s Health is more than a business — it is a ministry. “Our vision is much more than giving people shots and taking their money. It’s about changing their lives, and that’s the exciting thing about what we do.

“We’re unapologetically men of faith and love Jesus,” he said. “Our patients don’t have to believe the way we do, but I think it shows that we care about our patients.

And the spiritual component, however you want to define that, is important to health, as research and studies have demonstrated.”

Dr. Warford attributes much of the clinic’s growth to patient referrals. “Because our patients’ lives have been impacted so positively, they share the news with everyone around them.

We’re happy to be able to bring these life-changing services to Conway and Faulkner County.”

For more information about APEX Men’s Health, visit APEXMensHealth.com.

6D — Sunday, March 16, 2014

Faulkner County Business Journal 25

To subscribe call (501) 329-2927 • Log Cabin Democrat

TOP 5 RESIDENTIAL HOME SALES 40

40

Old Morrilton Hwy

Gentry Lake

Robins Lake

Days Lake

64

Meadowlake Rd

64

1135 Burrow Ave. Mountain View Park kr Har

Gatlin Park

Hendrix College

St

1250 Sea Breeze

ider

Salem Rd

Centennial Valley Golf Club

r

eD

ylin

Sk

65

Tyle r St

3710 Newcastle Dr. Cadron Valley Country Club

Donaghey Ave

64

266

Donaghey Ave

Gleason

65

65 40

t

S ce

n

Pri

60

Oak St

Conway Laurel Park

Caldwell St

60

Oak

St60

E Oak St

60

Conway Country Club

65

Toad Suck Daze corporate T-shirts now on sale Fifth Avenue Park

Airport Park

Central Baptist College

5325 Trinity Crossing Highway 60 W

Oak Grove Cemetery

350 Wellesley S Salem Rd

60

Dennis F Cantrell Field

arkr

Dave Ward Dr

SH

286

University Of Central Arkansas

286

ider St 365

Bed/Bath Subdivision 3/2.5 Wellington 4/4 The Village at Hendrix 4/4.5 Weatherstone 4/3 Chapel Creek Ph. II 5/3 Sunderlin Park

SqFt 3,164 2,481 3,804 2,505 3,222

Price/SqFt $122.95 $151.30 $97.24 $118.12 $93.08

Built 2008 2013 2006 2013 2003

65 S

Address 350 Wellesley 1135 Burrow Ave. 3710 Newcastle Dr. 5325 Trinity Crossing 1250 Sea Breeze

Ar-3

Price $386,000 $375,372 $356,800 $292,000 $259,900

The Conway Area Chamber of Commerce is accepting corporate orders for 2014 Toad Suck Brumley Daze T-shirts. Corporate orders must consist of a minimum of 10 shirts in one color.

The shirts range in price from $13 to $18, depending on size. Corporate T-shirts are custom65

40

ized to include a business logo on the left sleeve at no additional cost. The logo will be either black or white, depending on the shirt color. The 2014 T-shirt is available in navy, hot pink, lime and gold. Shirts are a 50/50 blend with this year’s fes-

SHIRTS < 7D

Hiland Dairy executive, NFL official to speak at Chamber luncheon Walter Coleman III, controller for Hiland Dairy Foods in Little Rock, will be the guest speaker at the Conway Area Chamber of Commerce’s upcoming CEO Luncheon. The event, presented by Nabholz Corporation, will take place Tuesday, April 1, from 11:30 a.m. until 1 p.m. at Central Baptist College.

Coleman began working for Coleman Dairy Foods in June 1974, making him the fifth generation of Colemans to operate the business since it was founded in 1862.

Coleman Dairy became a division of Hiland Dairy Foods in 2006. In January 2013, Coleman Dairy began marketing its dairy products under the Hiland Dairy Foods la-

bel. Combined, the companies have served for more than 220 years as farmer-owned, local dairies in the Midwest. Hiland Dairy operates 11 plants in Arkansas, Kansas, Missouri, Nebraska and Oklahoma.

In addition to serving as an executive for Hiland Dairy Foods, Walter Coleman III has spent the past 25 years as a

referee for the National Football League. He wears the number 65 on the back of his striped shirt.

Coleman graduated from the University of Arkansas with a bachelor’s degree in business administration. He has been involved with a number of community organizations, including serving as past pres-

ident of the Arkansas Dairy Products Association and Downtown Little Rock Kiwanis Club, past board member for the Milk Industry Foundation in Washington, D.C., past chairman of the Arkansas Area Council of Boys & Girls Clubs of America and a current board member of the Little Rock Boys & Girls Club.

CEO Luncheons are open to all employees of Chamber member businesses. Individual tickets are $25 per person.

Reserved tables of eight are available for $200.

For reservations, call 501-327-7788 or email Whitney@ConwayArkansas.org. The reservation deadline is Monday, March 24.

Log Cabin Democrat • Find our online edition at www.thecabin.net

SHIRTS from 6D tival design on the back and left chest.

“Toad Suck Daze Tshirts are great for casual Fridays,” said Mary Margaret Satterfield, director of Toad Suck Daze and events for the Conway Area Chamber of Commerce.

“The shirts are also a fun way for local businesses to show their support for the festival and our mission.”

Proceeds from Toad Suck Daze, including T-shirt sales, support the festival’s primary goal — raising money to promote education initiatives in Faulkner County.

To date, the festival has awarded more than $1.4 million in the form of direct scholarships, endowments and a pre-K initiative.

The deadline for corporate orders is March 21. Shirts will be available approximately two weeks after the deadline.

To place a T-shirt order for your organization or company, email Mary Margaret Satterfield at Mary@ConwayArkansas.org or call 501-932-5412 for an order form. If ordering more than one color, separate forms are required.

Toad Suck Daze shirts for the public will be available at the Toad Store and at the festival, which takes place May 2-4.

The Toad Store is located at 1321 Oak St. in Conway and officially opens Friday, March 28, at 10 a.m.

Faulkner County Business Journal

Sunday, March 16, 2014 — 7D

Old, new commercial real estate in Conway

By Roger Lewis

People. People need supplies and services. The more people, the more the need for supplies and services. And who delivers supplies and services? Mostly, they come from commercial establishments that operate from commercial real estate locations.

In 1960, Conway had 9,719 residents. Now, just more than 50 years later, the number has increased to about 62,000, a more than six-fold increase. All these additional people are customers who are served by establishments housed in commercial real estate.

Commercial development in Conway today is robust. Building permits for all types of commercial, industrial and institutional buildings, excluding UCA, averaged $75 million per year in the past five years. This figure does not include the cost of the land, land improvements or infrastructure expenditures.

Projects on the horizon — Central Landing, Lewis Crossing, Markham Street project, Baptist Hospital and additional restaurants — may dwarf this yearly average in the future.

Commercial real estate values depend largely on zoning classification. In Conway, there are three broad classifications: Office, commercial, and industrial. These classifications have sub categories that limit usage. For instance, commercial zoning has four subcatego-

ries: C1 central business district, C2 neighborhood commercial district, C-3 highway service and open display district and, C-4 large shopping center commercial district.

The purpose of zoning is to establish regulations that promote the general welfare of the community. Before a building permit is issued, a proposed commercial structure and its use must demonstrate adequate infrastructure, safety, environmental and aesthetic qualities and that the building/use is compatible with the neighborhood.

Today, high-dollar real estate is used for retail establishments, including restaurants. The price of the land is highly dependent on location.

(The old adage that land value depends on three important factors: 1) location, 2) location and 3) location is very true.) An acre of land on East Oak Street near the Commons Shopping area will bring a much higher price than an acre on Washington Street, even though both have the same zoning classification.

A large parcel of raw undeveloped land, 10 acres or more, suitable for an auto dealership or a shopping center runs in the neighborhood of $100 to $200 thousand dollars per acre. Small parcels of commercial land on Dave Ward Drive sell for as much as $400 to $500 thousand per acre.

The old airport, Cantrell Field, will become Central Landing Shopping Center. At an ap-

proximate $6,000,000 price, this 150-acre parcel sold for about $40,000 per acre. Smaller parcels are usually priced by the square foot and run between $4-$10 per square foot. In terms of acreage, this is approximately $200,000-$450,000 per acre.

Often land is not sold but leased to a developer or business that builds and maintains a facility. This can be the best of both worlds for the owner who leases for longterm usage. A lease usually contains provisions for inflation and taxes. It gives the landowner income without the headaches of maintaining a building. Also, the land can often be sold at a premium if it includes a good lease.

“Repurposing” is the current word for “renovation.” Repurposing is alive and well in Conway and has been for a long time. Conway in 1960 had an aggregate of about 10 blocks (Old Town Conway) of commercial establishments.

All have been renovated and, except for a few buildings such as Farmers State Bank (First Security Bank) and Cox Drug (Baker Drug), all are now serving purposes different from what they did then.

Most existing commercial structures require considerable renovation when new businesses occupy them. Two examples are Tacos 4 Life on East Oak Street (formally Tokyo Japanese Steakhouse) and First Ser-

vice Bank on Washington (formerly Mazzio’s Pizza). Both structures were essentially gutted and rebuilt. A third example is the former Dean Chevrolet dealership on East Oak Street. There have been rumors of new businesses there but each envisioned extensive renovation.

The master at repurposing industrial and commercial sites in Conway is George Covington. An example of his early work is the former Boat Works at the corner of Harrison and Garland that now houses La Huerta restaurant. Another example is the successive renovations of Conway’s first Walmart store at Garland and Markham that now houses Larry’s Pizza. This area is Covington Midtown Center and it houses businesses in addition to the two cited. This area would be a shuttered eyesore in many towns.

Thanks to his vision and entrepreneurship, this area and others such as Universal Nolen (Carrier) on Harkrider, Baldwin Piano on Sturgis, United Motors at Deer and Chestnut and the former Log Cabin Democrat building on Front Street have been repurposed. Soon, the Tiffany manufacturing facility on Salem Road will join this list. In addition, the Halter building on the corner of Oak and Front Streets, acquired by the SEAY Company, developers of Conway Commons, is another example of a remodeled building

that could have slipped into eyesore status in the heart of town.

The sales leader of commercial land and development is Nabholz Properties. Charles, Tom and Greg Nabholz have been selling and developing commercial land in Conway since 1983. Their developments include the medical plaza at the corner Dave Ward Drive and Nutter Chapel Road, the commercial properties along David Ward Drive, and those along Amity Road.

About 60 years ago the newly-formed Conway Development Corporation established an industrial park south of Conway. It successfully lured manufacturers such as Kimberly Clark, FMC (now Snap on Tools) and many others. The park expanded and the industries there provide many jobs and tax revenues. Nevertheless, the demand for industrial manufacturing sites has waned as several large facilities such as Nucor, Tiffany, Baldwin Piano and Ward Body Works ceased operations.

Today, commercial real estate is doing well in Conway, primarily because of the wide variety of businesses that serve the population and the supply of workers for those businesses.

I thank my friend Chris Spatz for editing and helping me with this article. You can obtain more information on the economy of Conway and Faulkner County by going to the Pulse of Conway website (www. pulseofconway.com).