Who Pays $1 Million for a Home?

by Mark Friedman  on Monday, Apr. 26, 2010 12:00 am  

Barnett said he was also attracted by the landscaping of the house. He said the dogwood trees and foliage add a nice touch to the four-bedroom home.

The entrance to the house is stone.

"It was well taken care of and the previous owners were really great people," Barnett said.

Barnett bought the home from Thomas and Cecile Rose.

  • In August, Ned "Scott" Rawlings and his wife, Laura, bought a 4,778-SF home in Little Rock's Cliffewood neighborhood for $1.03 million.

In March 2009, Glazer's of Dallas named Scott Rawlings as its Arkansas president. Glazer's operates in 11 states and is one of the nation's largest wholesale distributors of wine, spirits and malt beverage products. Rawlings also maintains regional oversight of Oklahoma and Mississippi. Rawlings was previously Glazer's Louisiana president. He has a degree in business management from East Tennessee State University.

The Rawlings purchased the home from Michael and Larita Berg.

  • In March, Somers and Andy Collins Jr. acquired a 19th-floor space in the downtown condominium tower at 315 Rock St. from River Market Tower LLC, led by Rett Tucker and Jimmy Moses.

The 2,946-SF condominium is "something we have not built out, and I'm not living in," said Andy Collins, the president of Cypress Properties Inc. of Little Rock, which manages commercial property. In late 2007, it developed Cypress Landing in western North Little Rock, which features a $21 million, 184,248-SF Wal-Mart Supercenter that opened in 2008.

Andy Collins said he bought the condo as an investment.

The building opened in 2009 and is the cornerstone of the River Market Place, which features lofts, shops, a courtyard and a Hampton Inn & Suites. "River Market Place is its own little village within a city," the website for River Market Towers said.

  • Jason and Cassandra LaFrance spent $2.5 million on a 5,000-SF home in Little Rock's prestigious Edgehill neighborhood.

The LaFrances bought the house in June from John and Christian Kelly. The Kellys bought the home in October 2004 for $3.2 million, and it was the most expensive home purchased in Pulaski County that year.

Jason LaFrance is executive vice president of USA Drug of Pine Bluff. LaFrance's father, Stephen LaFrance, started Stephen LaFrance Pharmacy Inc. of Pine Bluff, the parent company of USA Drug.

USA Drug operates more than 150 stores in Arkansas and surrounding states. In 2008, Stephen LaFrance Pharmacy had estimated revenue of $971.1 million, up 7.1 percent from 2007.



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