Ridge at Chenal Site Bought for $2.6 Million (Real Deals)

by George Waldon  on Monday, Jul. 25, 2011 12:00 am  

A 312-unit apartment project in west Little Rock is under construction after a $2.6 million land deal.

Mid-America Apartment Communities Inc. of Memphis acquired the 25.98-acre location at 5400 Chenonceau Blvd. from Deltic Timber Corp. of El Dorado.

Deltic bought The Ridge at Chenal Valley site in August 1972 as part of a $425,000 deal with M.W. and Gladys Staples, R.J. and Gladys O'Connell, T.H. Brown and Josephine Graham.


Cedar Creek Buy

An 82,234-SF warehouse facility in North Little Rock changed hands in a $1.15 million sale. Cedar Creek LLC, an affiliate of Cedar Creek Wholesale of Broken Bow, Okla., purchased the former OneSource/Arkmo Lumber & Supply Co. at 400 E. 13th St.

The seller is Newman Family LLC, led by Dwain Newman. The 10-acre development previously was tied to March 2010 mortgages of $1.72 million and $665,000 held by Arvest Bank of Fayetteville.

The property was acquired in February 2004 as part of a $1.6 million deal with Eugene and Linda Pfeifer.


Convenient Sale I

A 1.67-acre convenience store site in Sherwood is under new ownership after a $726,000 deal.

GDK Bear Paw LLC, led by Franklin Gatlin III, bought the Mapco Express location at the northeast corner of Highway 107 and Johnson Drive from Bear Paw LLC.

The investment group is composed of Powell Brothers Inc., led by Matt Chandler; Steve Deere; Rob Jolly Jr.; Scott Jolly; Brad Jolly; Matt Enderlin; Jimmy Crossfield; Larry and Carol Lazenby; and Blake Lazenby.



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