ArrowRock Realty owner to divide firm into three

If Anderson’s plan works, ArrowRock Realty, a sole proprietorship, will become Anderson Real Estate Inc., Anderson Properties Inc. and Anderson Construction Inc. Anderson Appraisal Service LLC already is separate and will remain unchanged.

“The property management business really needs to be separated out on its own,” Anderson said. “That’s what’s leading me to go ahead and separate everything out in January.”

Anderson would not delve deeply into the reorganization, but he said the driving force was to keep real estate escrow away from his property management income.

“The Missouri Economic Development Commission doesn’t like real estate companies to have both their real estate and their property management business running through the same accounts,” he said.

Anderson’s biggest project these days is Crown Meadows, a $3 million–$5 million residential development he’s undertaking with Michael Hestand, owner of G&H Properties Inc.

Crown Meadows is a 58.6-acre subdivision just north of Interstate 44 between West Bypass and Highway 13. About 75 lots already have been developed with plans in place for another 100.

Anderson formed his relationship with Hestand by doing real estate work for the investor in the mid-1990s.

“(Anderson has) kind of ramrodded the deal and construction management, that sort of thing,” Hestand said.

Officially, Anderson said, he’s a minority owner and development consultant on the project that will likely continue for another two to three years.

Anderson, who has been a real estate broker for 10 years and an appraiser for five, bought ArrowRock Realty from Charles and Vicki Crowley in 2002.

Anderson met Charles Crowley, who founded ArrowRock in 1984, when he completed an appraisal internship under his guidance. When Crowley was diagnosed with pancreatic cancer in 2002, Anderson bought the firm.

“I think (Anderson’s) done very well with the company,” said Vickie Crowley, who lost her husband in 2003.

Anderson said Crowley was a “very honest human being – just a really, really solid individual – and I grew to respect him and love him greatly.”

Even with the division on tap, Anderson said he has no immediate plans to move his office from 1058 E. Rosebrier or add to his staff of four. He does plan to offer appraisal apprenticeships next year.