Maumelle Starbucks Sells For $1.1 Million (Real Deals)

by George Waldon  on Monday, Feb. 15, 2010 12:00 am  

Car Holdings bought the project for $406,000 in December 2004 from Golden Group Inc., led by Jim Im.

Office Purchase

Office space in west Little Rock is under new ownership after a $290,000 transaction.

Lothlorien Properties LLC, led by Chris Jenkins, acquired two units totaling 2,620 SF at 11809 Hinson Road. The deal is funded with a three-year loan of $232,000 from Arvest Bank of Fayetteville.

The seller is WSLIC Properties LLC, an affiliate of Little Rock's Wonder State Life Insurance Co., once led by Ralph Olsen II. Both entities are under receivership with the Arkansas Insurance Department.

The property previously was linked with an October 2005 mortgage that totaled $272,389 in May 2009.

WSLIC purchased the office space for $370,000 more than four years ago from Richard and Barbara Crews and Joseph and Doralee Crews.

Day Care Deal

A day care project in west Little Rock rang up a $285,000 sale.

BBD LLC, led by Anthony Brooks, bought the 800 Town Oaks Drive project. The seller is Davidson Holding Co., led by Skip Davidson.

The deal is financed with a three-year loan of $325,000 from BancorpSouth Bank of Tupelo, Miss. The 0.57-acre development previously was used to help secure an April 2007 mortgage of $625,000 held by U.S. Bank of Minneapolis.

The property was acquired for $44,000 in October 1975 from William Humphries Jr. and his wife, Sarah; Stanley Bradshaw Jr. and his wife, Ann; and William Daniel Thomas Jr. and his wife, Johnnie.



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