Storage World Attracts $2.8M Transaction (Real Deals)

by George Waldon  on Monday, Mar. 5, 2018 12:00 am   3 min read

(Google Maps)

A 675-unit mini-storage project in west Little Rock tipped the scales at $2.8 million.

Modern SW LLC, led by Keith Richardson, purchased Storage World at 8500 Cunningham Lake Road.

The seller is Storage World Ltd., led by Ralph Bozeman.

The deal is financed with a five-year loan of $2.4 million from First Security Bank of Searcy.

The 3.57-acre development previously was linked with a July 2015 mortgage of $1.5 million held by Simmons Bank of Pine Bluff.

The project was bought for $1.3 million in August 1986 from RCLS Enterprises Inc., led by Wendell Miller.

Commercial Buy
A 6,400-SF office-retail center in west Little Rock weighed in at $2.25 million.

Bradford-Ft. Smith LLC, led by Mark Dake, acquired the 401 S. Bowman Road project.

The seller is P&H Investments LLC, led by John Perry and Robert and Christina Hester.

The deal is backed with a 19-year funding agreement of $1.8 million from Missouri’s Springfield First Community Bank.

The 0.74-acre development previously was tied to a January 2016 mortgage of $2 million held by the bank.

The project was purchased for $1.1 million in October 2015 from Leonard R. Ellis Properties Inc.

Convenient Site
A convenience store project is in motion after a $1.77 million land deal in west Little Rock.

KG Store 139 LLC, an affiliate of the Kum & Go chain based in West Des Moines, Iowa, bought the 1.57-acre parcel at the southeast corner of Chenal Parkway and Wellington Hills Road.

The seller is Chenal & Wellington Development LLC, led by Haitham Alley.

The property previously helped secure a December 2015 mortgage of $1.6 million held by Simmons Bank.

The property was acquired more than two years ago as part of a $1.6 million deal.

The seller was Kinnaman Properties Ltd., led by Lellan Kinnaman Jr. and Lellan Kinnaman III.

Smokey Acquisition
A 1.04-acre parcel in North Little Rock drew an $887,500 transaction.

Smokey Lane LLC, led by Don Salmon, purchased the land near the northeast corner of East McCain Boulevard and Smokey Lane.

The seller is Aline Blakey Ltd., led by Don Blakey, Patricia High and Joan Wilson.

The Blakey family has owned the property since striking a deal of unrecorded value in August 1955 with Jessie and Marjorie Wood.

Utility Property
Land for a utility substation near the western edge of North Little Rock rang up a $765,000 sale.

Entergy Arkansas Inc. of Little Rock acquired 12.4 acres near the southeast corner of Highway 365 and Green Acre Road.

The seller is Kim Properties LLC, ledby Young Kim, Ki Suk Kim and Grace Kim.

The property was purchased for $180,000 in March 2001 from Cleta Dernal.

Multifamily Land
Land for second-phase development of west Little Rock’s Wimbledon Green Apartments changed hands in a $432,000 deal.

BSR Trust LLC, led by John Bailey, bought 5.79 acres at the southwest corner of Baseline Road and Wimbledon Loop. The seller is Otter Creek Land Co. LLC, led by Tommy Hodges.

The land was acquired in February 1973 as part of a $1.22 million deal with M.W. and Gladys Staples, R.J. and Gladys O’Connell and Josephine Graham.

Downtown Dwelling
A 5,299-SF condo in downtown Little Rock tipped the scales at $2.6 million.

Phil Pulley and Amber Fey purchased the residence on the 12th and 13th floors of The Residences at Building 5 at 5 Statehouse Plaza from Brad and Emily Canada.

The property previously was linked with a February 2009 mortgage of $700,000 and a December 2013 mortgage of $1.4 million held by the Bank of England.

The Canadas bought the space for $1.2 million in June 2007 from Arkansas Riverview Development LLC, led by Brad Canada.

Hillcrest Home
A 3,696-SF home in Little Rock’s Hillcrest area sold for $931,000.

The Carter Revocable Trust, led by Larry and Sidney Carter, acquired the house from Thomas and Cynthia Staley.

The Staleys purchased the property for $665,000 in October 2006 from Jay and Susan Jameson.

Ensbury Abode
A 3,661-SF home in the Ensbury Place neighborhood of west Little Rock’s Chenal Valley development is under new ownership after an $851,150 deal.

Barry and Kristin Ward bought the house from Billy Hartness Construction Co. The deal is funded with a 30-year loan of $281,150 from Simmons Bank.

The residence previously was tied to a June 2017 mortgage of $458,400 heldby First Security Bank.

The site was acquired for $87,000 in December 2016 from Deltic Timber Corp. of El Dorado.

Country Club House
A 3,516-SF home near the Country Club of Little Rock drew a $761,512 transaction.

Christopher and Meredith Causey purchased the house from the Tabor Joint Revocable Trust, led by Scott and Denise Tabor.

The deal is financed with a 30-year loan of $453,100 held by IberiaBank of Lafayette, Louisiana.

The residence was bought for $450,000 in January 2003 from Anne Thompson.

Fontenay Residence
A 5,332-SF home in the Fontenay Circle neighborhood of west Little Rock’s Chenal Valley development rang up a $634,000 sale.

Benjamin and Kimberly Bailey acquired the house from Brian Hyatt. The deal is backed with a 25-year loan of $507,200 from Regions Bank of Birmingham, Alabama.

The residence previously was linked with a July 2014 mortgage of $525,000 held by IberiaBank.

The property was purchased for $550,000 in October 2010 from Kent and Tamara Norris.



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