Children's Pays $1.3 Million For Park Land (Real Deals)

by George Waldon  on Monday, Jan. 30, 2012 12:00 am  

  A 1.03-acre parking lot is in the works after a $1.3 million sale (about $29 per SF).

Arkansas Children's Hospital bought the 1210 Wolfe St. property from Wolfe Street Foundation Inc., led by Jim Waldron. An 85-slot parking area will replace the 7,100-SF building and its surrounding property.

The foundation property previously was linked with a January 2011 mortgage of $1 million held by Arvest Bank of Fayetteville.

It was assembled in two buys totaling $350,000. The sellers were Baptist Medical System, $150,000 in September 1985; and McMinn Co., led by Ben McMinn, $200,000 in August 2000.


Trucking Division 

The former Continental Express property in east Little Rock was divvied up in four transactions totaling $583,000. The buyers were:

* STT Inc., led by Shirley Heatherly, 51.12 acres that includes the 23,600-SF trucking complex at 7820 Zeuber Road, $420,000. The buy is backed with a five-year loan of $450,181 from Merchants & Planters Bank of Newport.

* Lexicon Inc., led by Tom Schueck, 15.08 acres for $93,000.

* Rickey Thomas, 13.64 acres for $45,000. The deal is funded with a 33-month loan of $40,860 from Jonesboro's Liberty Bank of Arkansas.

* FB3 Real Estate LLC, led by Fred Brown III, 28.2 acres for $25,000.

The property was sold at auction by Salmon Holdings LLC, led by Bonnie Harvey.

The 108.25-acre industrial spread previously was tied to a December 2009 mortgage of $1.78 million held by Metropolitan National Bank of Little Rock. The now-defunct trucking company assembled the land in two transactions totaling $424,000.



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