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Maumelle Warehouse Attracts $11.2M Sale (Real Deals)

5 min read

A 484,932-SF warehouse project in Maumelle tipped the scales at $11.2 million.

Eat-1412 LLC of Louisville, Colorado, purchased the former Champs Sporting Goods/Scholastic Distribution facility at 1 Champs Blvd. from Mohr Maumelle LLC of Dallas.

The 30.3-acre development previously helped secure a May 2013 mortgage of $9 million held by Protective Life Insurance Co. of Birmingham, Alabama.

Mohr bought the project for $5.4 million 17 months ago from Scholastic Distribution Services LLC, a subsidiary of Scholastic Corp. of New York.

Heritage Construction

Construction of a 30,000-SF office building is following a $2.3 million land deal in downtown Little Rock.

The Department of Arkansas Heritage assembled a 4.5-acre location on the banks of the Arkansas River in deals with the Hoffman Family LLC and the 1010 North Street LLC, both led by Steve Hoffman.

The buys include the 6,798-SF Muswick warehouse at 1100 North St. and a 1,134-SF law office building at 1120 North St.

The property was assembled as part of six transactions with Lewis and Iva Hamlin, $200,000 in September 1972; Transportation Properties Inc., led by R.A. “Brick” Lile, $57,500 in August 1959; city of Little Rock, $4,000 in September 1960; Transportation Properties, $3,500 in January 1961; Missouri Pacific Railroad Co., $2,500 in September 1959; and Mrs. Albertine McNeil, $2,000 in January 1960.

Boomerang Buy

A North Little Rock car wash is under new ownership after a $1.72 million deal.

Maumelle Boomerang LLC, led by John Bailey, bought the Cascade Carwash at 12301 Maumelle Blvd. The seller is 5GB Inc., led by Larry Tate.

The deal is backed with a six-year loan of $9.07 million from First Guaranty Bank of Benton, Louisiana.

The 0.93-acre development previously was tied to a September 2008 mortgage of $1.6 million held by Twin City Bank of North Little Rock.

The location was acquired for $547,000 six years ago from WNLR Investments LLC, led by Andy Collins.

DB Transaction

A one-block piece of Little Rock changed hands in a $250,000 transaction.

DB Development LLC, led by Casandra Toro, purchased the Greater Emmanuel Church at 1510 Arch St.

The seller is Gaines Street Missionary Baptist Church.

The 2-acre property is between 15th and 16th streets and Arch and Gaines streets.

The church bought half the property for $175,000 in June 1994 from Progressive Financial Investments Inc., led by Emmitt Willis Jr.

Melvyn Bell donated the balance of the property in December 1988.

Office Purchase

A 6,514-SF office building in downtown Little Rock drew a $215,000 sale.

BD Hangar LLC, led by Dan Kirkpatrick, acquired the IDP Building at 805 W. Second St.

The seller is Arkansas MMM LLC, led by Michelle Esentan.

The deal is funded with a $352,750 loan from Centennial Bank of Conway.

The 0.19-acre development was purchased for $148,000 in March 1999 from the estate of Clarence William Koch Sr.

Dollar General Site

A Dollar General project in east Little Rock is in motion after a $175,000 transaction.

PB General Holdings (Springer) LLC, led by Leonard Boen, bought the 1.02-acre location at 4744 Springer Blvd. from the Singleton Family Revocable Living Trust, led by Henry Singleton.

Construction is financed with a $905,000 loan from First Federal Bank of Harrison.

The Singleton family assembled the property in two deals totaling $36,500.

The sellers were Holsum Baking Co., led by Jackie Massanelli, $34,000 in December 1977; and John and Katherine Simmons, $12,500 in June 1975.

River Market Condo

A 14th-floor condo in downtown Little Rock rang up a $625,000 deal.

Ralph and Elizabeth Patterson purchased the 1,563-SF unit at 315 Rock St. from B.F Vinson Jr. and his wife, Nancy.

The property previously was linked with a January 2013 mortgage of $231,000 held by Regions Bank of Birmingham, Alabama.

The Vinsons bought the unit for $502,000 in July 2011 from River Market Tower LLC, led by Jimmy Moses and Rett Tucker.

Maisons Abode

A 4,835-SF home in the Maisons neighborhood of west Little Rock’s Chenal Valley development sold for $615,000.

Paul and Heather Edwards acquired the house from Eric and Kori Gordon.

The deal is backed with a 15-year loan of $615,000 from Benefit Bank of Fort Smith.

The residence previously was tied to a February 2011 mortgage of $417,000 held by Primary Residential Mortgage Inc. of Salt Lake City.

The Gordons purchased the property for $645,000 in October 2006 from Meredith Homes Inc., led by Tony Meredith.

Country Club House I

A 3,020-SF home near the Country Club of Little Rock is under new ownership after a $614,000 transaction.

Jameel Brown and Kristen Addis bought the house from the Mary B. Boellner Living Trust.

The deal is funded with a one-year loan of $593,550 from Riverside Bank of Sparkman (Dallas County).

The residence previously was linked with a June 2012 mortgage of $120,000 held by Little Rock’s Bank of the Ozarks.

The property was acquired for $343,000 in February 1990 from John and Mary Allison.

Heights Home

A 2,807-SF home in the Heights area of Little Rock changed hands in a $599,000 sale.

Daniel and Stephanie Brown purchased the house from Timothy and Brooke Hicks.

The deal is financed with a 30-year loan of $561,548 from National Bank of Kansas City in Overland Park, Kansas.

The residence previously was tied to a November 2010 mortgage of $250,000 held by Bank of the Ozarks.

The Hicks family bought the location for $175,000 in April 2010 from Diana Turner and Sandra Trust.

Country Club House II

A 3,177-SF home near the Country Club of Little Rock drew a $589,900 transaction.

Byron and Bren Wilkes acquired the house from the Fuchs-Dewier Living Trust, led by George Fuchs and Marianne Dewier. The deal is backed with a 30-year loan of $412,930 and a $147,745 credit agreement from Centennial Bank of Conway.

The residence previously was linked with an August 2002 mortgage of $50,000 and a May 2003 mortgage of $435,600 held by Bank of America in Charlotte, North Carolina, and a March 2014 mortgage of $200,000 held by IberiaBank of Lafayette, Louisiana.

The property was purchased for $470,000 in September 2001 from Kathryn Campbell Miller.

PV Residence

A 3,889-SF home in west Little Rock’s Pleasant Valley neighborhood rang up a $529,000 deal.

Christian and Tammy Hester bought the house from Tim Pool and Vicki Carr-Pool.

The deal is financed with a 30-year loan of $417,000 from IberiaBank Mortgage Co. of Little Rock.

The Pools acquired the property for $425,000 in June 2006 from Matthew and Patricia Jones.

Bass Pro Funding

A Little Rock retail project is helping secure a $2.8 billion financial package.

Bass Pro World Outdoor LLC of Springfield, Missouri, obtained $2.2 billion and $600 million loan agreements, overseen by JPMorgan Chase Bank of Columbus, Ohio.

The 29-acre location at 1 Bass Pro Drive was purchased for $3 million in October 2012 from Town Center LLC, led by Tommy Hodges.

Heart Hospital Financing

A west Little Rock hospital is backed with a $70 million funding agreement.

Arkansas Heart Hospital LLC, led by Bruce Murphy, received five-year loans of $52 million and $8 million and a two-year revolving credit agreement of $10 million from Arvest Bank of Fayetteville.

The 12-acre location at 1701 S. Shackleford Road was bought for $3.1 million in October 1995 from J. Paulette Inc., led by John Flahavin.

Building Permits

Remodeled Space    $3,900,000
Beans Grains & Things
501 S. Bowman Road, Little Rock
Flintco LLC, Tulsa

Seating Renovation    $1,500,000
Breckenridge Theater
1200 Breckenridge Drive, Little Rock
Bailey Construction & Consulting LLC, Little Rock

New Restaurant    $1,300,000
Chow Time
102 S. Rodney Parham Road, Little Rock
Salton Companies LLC, Cordova, Tennessee

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