Hocott Property Acquired As Part Of $1.1 Million Transaction (Real Deals)

by George Waldon  on Monday, Jul. 4, 2011 12:00 am  

A 1.24-acre commercial property in Little Rock's Hillcrest neighborhood was assembled for $1.12 million.

Hill Valley Inc., led by B.M. Metcalf, bought the Hocott Garden Center at 3700 Kavanaugh Blvd. for $900,000 from the Hocott family and the 2,747-SF McAffee Ballet at 3604 Kavanaugh Blvd. from Lorene Lloyd Patterson and her husband, James, for $250,000.

The Hocott sellers were Hocott Enterprises, led by Terry and Perry Byron, Paula Herrin, David and Denice Hocott, Thomas and Kimberly Hocott, Karen Ridgeway, Patricia and Samuel Herrin, Joseph and Kristi Herrin, Patrick and Sheran Herrin, Dorothy Lovette and Erica Hocott.

The Hocott family purchased the property in July 1940 as part of a $4,000 deal with Peoples National Bank of Little Rock. The lender is the predecessor of First National Bank, which combined with Commercial National Bank in 1983 to create First Commercial Bank.

The Lloyd family acquired its property for $17,500 in September 1967 from Andrew and Catherine Drennan.

 

Camp Foreclosure

A 17,631-SF equipment sales facility in southwest Little Rock changed hands in an $875,000 foreclosure sale.

Citizens Bank of Batesville recovered the 7720 Interstate 30 property from A Camp Equipment LLC, led by Andrew Judkins. The firm, which sold construction machines, filed for Chapter 11, listing debts of $13.8 million and assets of $7.5 million, in late 2009.

The bank obtained a $1.1 million judgment against the venture and Judkins in February. The 3.38-acre development helped secure a February 2009 mortgage of $1.04 million held by Citizens Bank.

The property was bought for $650,000 more than two years ago from Old Buildings LLC, led by Ted Belden.

 

Warehouse Purchase

 

 

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