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Markham Square Draws $11.1M Transaction (Real Deals)

5 min read

A 125,000-SF retail project in west Little Rock rang up an $11.15 million transaction.

Y&O Markham 1 LLC and Y&O Markham 2 LLC bought Markham Square Shopping Center at 9101 W. Markham St. in an 87/13 ownership split. Both ventures are led by Steven Holm of Jericho, New York.

The seller is Weingarten Nostat Inc., an affiliate of Weingarten Realty Inves-tors of Houston, Texas.

The deal is funded with an $8.36 million loan from Morgan Stanley Bank of Salt Lake City.

The 10.1-acre property was assembled in June 1969 as part of five transactions of undisclosed value.

The sellers were John and Carolyn Washburn, Charles and Linnie Yancey, Stephie Knoedl, Paul Barnard Jr. and his wife, Velda; and Carl and Marjorie Knoedl.

Magna Six Purchase

A 16,380-SF microfilm facility in North Little Rock tipped the scales at $1.49 million.

Magna Six Investments LLC, led by Jeff Ward, Leigh Bloomfield and the Daniel R. Norman Family Trust, acquired the American Imaging project at 7691 Northshore Place from Stephen and Sara Daugherty.

The deal is financed with a five-year loan of $1.49 million from Simmons First National Bank of Pine Bluff.

The 3-acre development previously was tied to a November 2012 mortgage of $1.1 million and November 2013 mortgage of $150,000 held by First Security Bank of Searcy.

The location was bought in March 2003 as part of a $229,000 deal with Pfeifer Family Ltd., led by Gene Pfeifer.

Dollar Deal

A Dollar General Store in east Little Rock weighed in at $1.2 million.

Rosebud LLC of Huntington Beach, California, purchased the 9,360-SF store at 4748 Springer Blvd. from PB General Holdings (Springer) LLC, led by Leonard Boen.

The deal is backed with a three-year loan of $720,000 from Arvest Bank of Fayetteville.

The 1.02-acre development previously was linked with a $905,500 loan from First Federal Bank of Harrison.

PB General Holdings acquired the location for $175,000 in July 2014 .

The seller was the Singleton Family Revocable Living Trust, led by Henry Singleton.

Multifamily Buy

A 16-unit apartment project in west Little Rock changed hands in a $564,000 deal.

Davidson Holding Co. LLC, led by Skip Davidson, bought the John Lynn Manor Apartments at 11405 Mara Lynn Drive from Beverly and E.R. Thompson Jr.

The deal is funded with a five-year loan of $572,214 from Bank of Augusta.

The 0.68-acre property was purchased for $265,000 in May 1979 from Robert and Betty Jo Dix.

Church Acquisition

A 3.75-acre church property in Sherwood sold for $500,000.

JWJ Investments LLC, led by Steve Jenkins, acquired Calvary Missionary Baptist Church at 200 Brockington Road.

The church has owned the property since receiving the land in February 1973 from I.T.M. Land Co., led by James Hall.

Mini Transaction

An office-mini storage project in south Pulaski County drew a $295,000 transaction.

Central State Investments LLC, an affiliate of Asphalt Products, purchased the 910 W. Dixon Road project. The seller is Dixon Road Security Storage Inc., led by Judy Wyles.

The 1.66-acre development previously was tied to a May 2002 mortgage of $133,077 and a March 2014 mortgage of $63,019 held by Regions Bank of Birmingham, Alabama.

The property was acquired for $50,000 in January 1984 from Bill and Frances Vannoy.

NLR Land

A 1.4-acre commercial site in North Little Rock is under new ownership after a $228,000 sale.

BLK Properties LLC, led by Butchaiah and Lakshmi Garlapati, bought the location near the northeast corner of 43rd Street and Smokey Lane. The seller is DOW Investments LLC, led by Dow Worsham II.

The deal is financed with a three-year loan of $170,000 from Regions Bank.

The property was purchased for $163,000 in June 2004 from James and Judy Dietz; Hershel Bowman Jr.; Evans and Bryan Dietz; Douglas and Sandra Ashcraft; CBM Construction Co., led by Clark McGlothin; W.E. Clark & Sons Inc., led by Jack McGlothin; Dennis and Gayla Jungmeyer; Matthews Properties, led by Hal Matthews; Rablaco LLC, led by Paul Ramm; Mary and Don Schnipper; Tom and Barbara Denniston; and Interstate Vending Inc., led by David Cassinelli.

Office Purchase

A 954-SF office building in midtown Little Rock rang up a $185,000 deal.

Brandon & Associates LLC, led by Janis Brandon, acquired the 523 N. University Ave. project from Chester and Ann Hight.

The Hights bought the property for $10,000 in May 1958 from James and Ruby Buddenberg.

Chenal Downs Abode

A 10,943-SF manor in west Little Rock’s Chenal Downs neighborhood hosted a $2.16 million foreclosure sale.

Bank of New York Mellon recovered the house from Donnie and Mary Savage.

The residence previously was linked with a July 2006 loan of $2.3 million originated by Countrywide Home Loans Inc. of Calabasas, California.

The property was acquired for $2.2 million in June 2006 from Terry Mitchell.

Pinnacle Point House

A 5,620-SF home in the Pinnacle Point neighborhood of Cammack Village changed hands in a $675,000 deal.

Matthew and Melissa Troup bought the house from the Shirley F. Strauss Trust.

The deal is backed with a 30-year loan of $540,000 from Citibank of Sioux Falls, South Dakota.

The Strauss family purchased the property for an undisclosed sum in April 1955 from Junior Development Co., led by R.E. Block Jr.

Education Loan

The owner of a private career college in west Little Rock picked up a $5 million loan.

EAI Realty Inc., an affiliate of Education America, obtained the funding from ECPI University LLC of Virginia Beach, Virginia.

The 35,000-SF facility at 19 Remington Road also secures an April 2014 mortgage of $9.3 million held by Regions Bank.

The 4.6-acre location of Remington College was acquired for $825,000 in December 2002 from Boen Enterprises LLC, led by Leonard Boen.

Dental Funding

A west Little Rock dental surgery center is backed with a $2.5 million financial package. Schoen Properties LLC, led by Scott Schoen, received the loan from U.S. Bank of Cincinnati.

The 1.13-acre development at 5400 Highland Drive previously was tied to a May 2014 mortgage of $750,000 and a November 2014 mortgage of $995,000 held by the bank.

Schoen bought the land as part of an August 2004 transaction with Pfeifer Family Ltd. No. 2, led by Gene Pfeifer, $360,000; and Jim and Gay Hathaway, $91,000.

Medical Mortgage

Construction of a medical clinic in Maumelle is in motion with a $2.2 million funding agreement.

L&S Investment Group LLC, led by Derek and Natalie Long, got the 11-year loan from First Federal Bank.

The 1.04-acre site at the northwest corner of Maumelle Boulevard and Town Center Drive previously was linked with a February 2011 mortgage of $280,000 held by Centennial Bank of Conway.

L&S purchased the property for $350,000 more than four years ago from Unleashed Innovations LLC, led by Wayne Richie.

The land was acquired for $280,000 in November 1988 from Martin and Carol Dorman.

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