Warehouse Sale at LR Port Tops $1 Million (Real Deals)

by George Waldon  on Monday, Feb. 27, 2012 12:00 am  

A 33,811-SF warehouse near the Little Rock Port tipped the scales in a $1.12 million sale. World Martial Arts Supply Inc., an affiliate of Little Rock's American Taekwondo Association, bought the 5900 Lindsey Road project.

The seller is Drago Partners, led by Joseph Drago. The 3.5-acre site was acquired for $65,300 in April 2000 from PPP Group LLC, led by Allen McDowell.


Grocery Store Sale

A 37,596-SF Kroger in the Hillcrest area of Little Rock changed hands in a $1 million transaction. JFP-AG/Little Rock LLC of Alamo, Calif., purchased the 614 N. Beechwood St. project from Amcap Acadia Little Rock LLC of White Plains, N.Y. The deal did not include the land.

The property is helping secure a $12.5 million mortgage held by Amcap.

The 2.8-acre development was bought for $2.3 million in January 2003 from Hannibal Associates Ltd. of New York.


Convenient Purchase

A 2,600-SF convenience store in Jacksonville rang up an $845,000 sale.

Han & Son Inc., led by Keong Son, acquired the Valero project at 705 S. First St. from Wael and Sueha Alami.

The deal is funded with a 38-month loan of $607,750 from First Arkansas Bank & Trust of Jacksonville and a five-year loan of $100,000 from the Alami family.

The 1-acre property development previously was linked with a January 2005 mortgage of $450,000 held by the bank.



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