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Landers Auto Dealership Drives $22.1M Toyota Sale (Real Deals)

5 min read

Luther Auto Group’s acquisition of Steve Landers Toyota in Little Rock generated a real estate transaction valued at $22.1 million.

LL Ark Properties LLC of St. Louis Park, Minnesota, bought the 66,592-SF Landers Toyota facility at 10825 Col. Glenn Road and its 10,206-SF service center.

The sellers were Landers Land Co. 3 LLC, led by Steve Landers, $20.8 million, and Scott Allen Landers Trust, $1.39 million.

The 12.4-acre dealership site was purchased for $3.38 million in March 2004 from Boen Enterprises LLC, led by Leonard Boen.

The 6.85-acre service center site was acquired for $2.38 million in June 2010 from Colonel Glenn Centre LLC, led by Boen.

LL Ark also bought the former Toyota dealership property at 5909 S. University Ave. from the Scott A. Landers Revocable Trust for $900,000.

The 5.1-acre development previously was tied to a November 2012 mortgage of $575,000 from Regions Bank of Birmingham, Alabama.

The property was purchased for $575,000 nearly two years ago from B&C Investments of Arkansas Inc., led by James Young.

LL Ark’s acquisitions are backed with a seven-year loan of $18.48 million from Wells Fargo Bank of Sioux Falls, South Dakota.

Branch Buy

A former Metropolitan National Bank branch in west Little Rock is under new ownership after a $1.76 million sale.

Crain Investments Ltd., led by Larry Crain Sr., purchased the 3,555-SF project at 11821 Col. Glenn Road in Little Rock from Simmons First National Bank of Pine Bluff.

The 1.5-acre location was bought for $951,000 in November 2003 from Colonel Glenn Development Co., led by Robert Vogel and Gary Lay.

CALS Transaction

A 27,832-SF piece of the Arcade Building in downtown Little Rock changed hands in a transaction valued at $1.2 million.

The Central Arkansas Library System acquired its portion of the project at 100 River Market Ave. from Clinton-Commerce LLC, led by Jimmy Moses and Rett Tucker.

The space previously helped secure a September 2012 mortgage of $5 million held by First Security Bank of Searcy.

The 0.48-acre site at the southwest corner of President Clinton and River Market avenues was purchased for $1.5 million in January 2009 from Arkansas Democrat-Gazette Inc., led by Walter Hussman Jr.

River Land Trade

A North Little Rock land swap along the Arkansas River added up to a $570,000 sale.

Center Point Terminal Co. LLC of St. Louis bought 5.2 acres on the western end of Riverview Park from the city of North Little Rock for $390,000.

Center Point traded this property plus $120,000 for a 3.3-acre parcel adjoining the east side of its 3206 Gribble St. facility.

The parcel was owned by the Arkansas Game & Fish Commission, which maintained a public-access boat ramp on the site.

AG&F will develop a new boat launch area on the Riverview Park site. North Little Rock had owned the property since purchasing it in March 1960 as part of a $1,200 deal with the United States of America.

AG&F had owned the Gribble Street Access property since June 1965 when it acquired the property in a land swap with John and Hattie Jo Ott.

Office Acquisition

A 2,412-SF office building in west Little Rock rang up a $410,000 transaction. Alysse Property Management LLC, led by Alvin Rogers II, purchased the 13 Office Park Drive project.

The seller is Wealthbridge Property One LLC, led by Michael Franks.

The deal is financed with a 20-year loan of $354,250 from Capital One of McLean, Virginia.

The 0.48-acre development previously was linked with a January 2007 mortgage of $392,000 held by Simmons First National Bank.

The site was bought for $50,000 in October 2006 from the Carolyn M. Hamra Rollover IRA.

Hickory Creek Manor

A 6,600-SF home in west Little Rock’s Hickory Creek neighborhood tipped the scales at $1.1 million.

Stanley and Catherine Payne acquired the house from Jon Underhill. The deal is funded with a 30-year loan of $750,000 from IberiaBank Mortgage Co. of Little Rock.

Underhill purchased the property for $550,000 in November 2002 from Joe and Brenda Blankenship.

Country Club House I

A 3,236-SF home near the Country Club of Little Rock sold for $691,000.

5309 Country Club LLC, led by Miles Stephens, bought the house from 2021 Brownwood LLC, led by Diane Wilder.

The residence previously was tied to a June 2014 mortgage of $569,500 held by Delta Trust & Bank of Little Rock.

2021 Brownwood purchased the property for $670,000 three months ago from the Gladys M. Beal Revocable Trust.

The Beal family acquired the home from Lance and Betty Alworth in April 1968 for an undisclosed sum.

Sezanne Abode

A 5,471-SF home in the Sezanne Court neighborhood of west Little Rock’s Chenal Valley development is under new ownership after a $687,500 transaction.

Christopher and Sonya Stewart pur-chased the house from Randy and Malinda Watson.

The deal is backed with a 30-year loan of $649,500 from Regions Bank.

The residence previously was linked with an August 2013 mortgage of $460,000 held by U.S. Bank of Cincinnati.

The Watsons bought the property for $690,000 in August 2008 from Michael and Jamie Kuhn.

Residential Quarrel

A 5,608-SF home in the Sorrells Road area of west Little Rock changed hands after a $635,000 nonjudicial foreclosure sale.

U.S. Bank, as trustee of a 2006 portfolio of mortgage-backed securities, took title to the property from Lawrence and Delois Braggs.

However, the couple remained on the property at last report and is contesting the transaction and the bank’s effort to evict them.

The 4.39-acre residential spread secured a December 2005 mortgage of $656,000 originated by Fremont Investment & Loan Corp. of Brea, California.

Trumpet In Zion Ministries Inc. of Little Rock, led by Lawrence Braggs, acquired the property for $549,000 in April 1996 from Roger and Marcia Owens. The church (now known as Awareness Center International Ministries) transferred ownership to the Braggs family in April 2005.

Country Club House II

A 3,746-SF home near the Country Club of Little Rock rang up a $605,000 transaction.

Addison and Allison Anthony bought the house from the Cranford Joint Revocable Trust, led by J. Wayne and Frances Cranford.

The deal is financed with a 10-year loan of $484,000 from the Bank of Bearden. The residence previously was tied to a November 2011 mortgage of $356,896 held by Centennial Bank of Conway.

The Cranfords acquired the property for $29,000 in December 1964 from Jessie Gusewelle.

Woodland’s Edge Home

A 4,111-SF home in the Woodland’s Edge neighborhood of west Little Rock sold for $525,000.

Jeremy and Ashley Antipolo purchased the house from The Wilson Co., led by Janet Dillon. The deal is funded with a 30-year loan of $420,000 from Wells Fargo Bank of Sioux Falls, South Dakota.

The site was bought for $79,000 in September 2013 from Rocket Properties LLC, led by Ron Tyne and Lisenne Rockefeller.

Building Permits

Utility Upgrade                      $6,191,185    
Arkansas Children’s Hospital
1 Children’s Way, Little Rock
Nabholz Construction Corp., Conway

Medical Office Building         $5,686,000
St. Vincent West II
16115 St. Vincent Way, Little Rock
Clark Contractors LLC, Little Rock

Addition & Renovation         $3,800,000
Christ the King    
4000 N. Rodney Parham Rd., Little Rock
Bailey Construction & Consulting LLC, Little Rock

Addition                                $2,859,633
Pulaski Heights
United Methodist Church
4823 Woodlawn Ave., Little Rock
East-Harding Inc., Little Rock

Operations Center                 $1,042,163
Entergy Transmission
13019 Vimy Ridge Road, Little Rock
Redstone Construction Group Inc., Little Rock

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