Windstream Buys West Little Rock Property in $2.56 Million Deal (Real Deals)

by George Waldon  on Monday, May. 9, 2011 12:00 am  

A 30,400-SF former home improvement outlet in west Little Rock changed hands in a $2.56 million sale.
Windstream Hosted Solutions LLC of Little Rock purchased the former OneSource facility at 15707 Chenal Parkway from Chenal Park-way Development LLC, led by Sam Alley.
The 2.7-acre development previously was used to help secure an October 2010 mortgage of $2.85 million held by First Security Bank of Searcy.
Chenal Parkway Development re-tained about 3 acres bought as part of a $2.56 million deal with Newman Family LLC, led by Dwain and Glenda Newman.
Newman Family LLC acquired the 4.8-acre OneSource development for $2.5 million in February 2004 from Gene and Linda Pfeifer, along with a neighboring 1.1 acres for $600,000.

Food Facility Coming
A North Little Rock grocery store redevelopment is in motion after a $1.1 million transaction.
Wael and Sueha Alami bought the one-time home of Prestige Toyota-Hyundai. The seller is Farm Bureau Building Inc.
The 7,409-SF project at 5051 Warden Road is helping secure a nine-month loan of $2 million from First Arkansas Bank & Trust of Jacksonville.
The 1.47-acre site was purchased for $384,090 in March 1989 from The Crestwood Co., led by James Matthews.

Lighthouse Purchase
A 1,144-SF office building in North Little Rock is under new ownership after a $185,000 deal.
Lighthouse Christian Fellowship acquired the 5508 MacArthur Drive project from Robert Garrett Jr. and his wife, Judy. The Garretts carried $165,000 of the purchase price.
They bought the property for $150,000 in November 1988 from Charles and Martha Kimbrell and John and Christal Toland.

Hawthorne Abode
A 4,300-SF home near the Country Club of Little Rock sold for $670,000.
Healthy Investments LLC, led by Pittman Moore, purchased the house. The seller is 5421 Hawthorne LLC, led by Walter Quinn.
The deal is financed with a pair of 11-month loans of $350,000 from Allied Bank of Mulberry. The residence previously was tied to an April 2006 mortgage of $860,000 held by Union Bank & Trust of Monticello.
The property was acquired for $84,000 in June 1993 from James Gray Jr.

Palisades Home
A 3,850-SF home in Little Rock's East Palisades neighborhood sold for $501,000.
Brendan and Kimberly Moore bought the house from the C. Barnett Grace Revocable Trust.
The deal is funded with a 30-year loan of $400,800 and a five-year loan of $50,000 from Metropolitan National Bank of Little Rock.
The property was purchased for $250,000 in March 1984 from Thomas Brewer.

South Oaks Mortgage
A 204-unit apartment project in south Little Rock is funded with a $4.37 million mortgage.
South Oaks Apartments Ltd., led by James Alessi, obtained the 35-year loan from Wells Fargo Bank of San Francisco.
The 6-acre development at 3401 Fair Park Blvd. previously was linked with an October 2004 mortgage of $4.37 million held by Reilly Mortgage Group Inc. of McLean, Va.
The land was assembled in two deals totaling $270,000. The sellers were Evans and Shirley Bush, $200,000 in November 1985; and Hugh and Rose Brown, $70,000 in July 1984.

Williamsburg Funding
A 14,800-SF commercial project in southwest Little Rock is securing a $1.35 million financial package.
Masoud Investments Inc., led by Jalal Masoud, received the 15-month loan of $600,000 and a three-year loan of $750,000 from Bank of England.
The 3.92-acre Williamsburg Shopping Center development at 4918 Baseline Road was acquired for $850,000 in August 2006 from Rich-ardson Properties LLC, led by Keith Richardson. 



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