Maumelle Starbucks Sells For $1.1 Million (Real Deals)

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

Starbucks Transaction

The sale of a Starbucks in Maumelle tipped the scales at $1.1 million.

Kushynski Family Trust of Sherman Oaks, Calif., bought the coffeehouse at 105 Commons Drive from Maumelle SBU LLC, led by Gene Cauley.

The trust assumed a July 2007 mortgage of $1 million held by GE Commercial Finance Business Property Corp. of Bellevue, Wash.

The 0.6-acre site was acquired for $375,000 in September 2006 from Little Rock's Bank of the Ozarks.

Arby's Site

A 0.75-acre fast-food site in west Little Rock rang up a $595,000 transaction.

United States Beef Corp. of Tulsa purchased the land for an Arby's near the northwest corner of Chenal Parkway and Wellington Hills Road.

The seller is Chenal & Wellington Hills 2007 LLC, led by Jeffrey Nicholas. The group also sold an adjoining 0.76-acre site for $396,000 to Main Carr Development LLC Series IX, led by Eric Reed.

Chenal & Wellington acquired the properties as part of a 4.3-acre parcel for $3.68 million in November 2007 from Saturn Land LLC, led by Richard Parker.

The land was bought for $1.27 million in January 2000 from Ruebel & Co., led by Tom Wittenberg.

NLR Property

A 0.9-acre commercial site in North Little Rock changed hands in a $575,000 deal.

GCI Development LLC, led by Martin and Susan Gunaca, acquired the location at 11501 Maumelle Blvd. from One Bank & Trust of Little Rock.

The deal is financed with a six-month loan of $386,250 from Metropolitan National Bank of Little Rock.

The bank purchased the land in January 2008 as part of a $1.03 million deal with Richardson Properties LLC, led by Keith Richardson.

Entergy Acquisition

A fence contracting property in southwest Little Rock drew a $500,000 sale.

A&L Entergy Inc. of Shreveport bought the 11125 Interstate 30 project from Master-Halco Inc. of Orange, Calif.

The transaction is backed with a $488,000 loan from IberiaBank of Lafayette, La.

Halco Fence & Supply Co., the pre-merger owner, acquired the 3.85-acre property for $50,000 in April 1971 from John and Rea Marion.

Multifamily Sale

A small apartment project in North Little Rock sold for $420,000.

W.E. Clark & Sons Inc., led by Michelle Esentan, purchased the 4805-4809 N. Hickory Ave. property. The seller is Car Holdings LLC, led by Richard Harp and Andrew Adkins.

The 0.69-acre development previously was used to help secure April 2007 mortgages of $1.9 million and $100,000 held by Twin City Bank of North Little Rock.

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.

                                                                                                                  Sherrill Heights Home

A 2,656-SF home in Little Rock's Sherrill Heights neighborhood changed hands in a $610,000 deal.

Daniel Knight and Chet Roberts purchased the house from Robert and Julie Ludwig. The deal is backed with a 30-year loan of $417,000 from First Financial Bank of El Dorado.

The residence previously was tied to a November 2002 mortgage of $255,000 held by Riverside Mortgage Co. of Little Rock.

The Ludwigs bought the property for $465,000 in November 2002 from VB LLC, led by Robert Young.

Maisons Abode

A 5,145-SF home in The Maisons neighborhood of west Little Rock's Chenal Valley development drew a $575,000 sale.

Jennifer and John Nolan acquired the house from Graham and Maryann Greene. The transaction is funded with a 30-year loan of $417,000 from Bank of Little Rock Mortgage Corp.

The residence previously was linked with a November 2005 mortgage of $539,608 held by Pulaski Mortgage Co. of Little Rock.

The Greenes purchased the property for $675,000 more than four years ago from Carl Gray Henson Inc.

Sezanne Residence

A 4,550-SF home in the Sezanne Court neighborhood of west Little Rock's Chenal Valley development sold for $575,000.

Jingyi Wang and Yan Huang bought the house from Sale Enterprises LLC, led by Christopher Sale. The deal is financed with a 30-year loan of $417,000 from Bank of America in Charlotte, N.C.

The residence previously was tied to a March 2008 mortgage of $544,000 held by Bank of Little Rock Mortgage.

Sale Enterprises acquired the location for $100,000 in October 2007 from Jacqueline Fecher.

Block 2 Financing

A downtown redevelopment was used to help secure an $11.9 million funding agreement.

LSF5 Block 2 LLC, an affiliate of Lone Star U.S. Acquisition LLC of Dallas, obtained the eight-month loan from Bank Midwest of Kansas City, Mo.

The limited liability company entered the ownership picture of the Block 2 Development through a $9 million foreclosure sale in March 2008.

LSF5 Block 2 received a $12.5 million foreclosure judgment in January 2008 after purchasing the long-in-default loan for $7.5 million in September 2007 from the Department of Housing & Urban Development.

The 1-acre property includes three redeveloped buildings: the 82,000-SF Democrat Printing & Lithograph Building at 122 E. Second St., home to Arkansas Business Publishing Group and 32 apartments; the 69,000-SF Wallace Building at 101 Main St., 44 apartments; and the 85,000-SF Archer Drug Building at 107 E. Markham St., 69 apartments.

Block 2 LLC, led by Paul Esterer and Todd Rice, began assembling the property in two November 1998 deals with Democrat Printing & Lithographing Co., led by Haynes Whitney, $650,000 for its namesake property; and J. Chandler & Co., led by John Chandler, $1.4 million for the other Archer Drug Building plus some parking space.

The Wallace Building was added in a $400,000 transaction with the city of Little Rock in August 1999.

Ferguson Funding

The owner of 74 acres in west Pulaski County picked up a $3 million financial package.

2610 Acres LLC, led by Rick Ferguson, received the one-year loan from Centennial Bank of Conway.

The land, a half-mile north of Lake Maumelle between Roland and Little Italy, previously was used to help secure an August 2005 mortgage of $3 million held by Twin City Bank.

The property was bought in January 2005 as part of a $2.4 million deal with Soterra LLC of Jackson Miss., an affiliate of Greif Brothers Corp. of Delaware, Ohio.

Rainwater Refinance

A downtown Little Rock property is backing a $1.2 million mortgage.

Rainwater Properties LLC, led by Bryan Hosto, got a five-year loan of $780,000 and a two-year loan of $420,000 from BancorpSouth Bank.

The Century Graphics Building at 701-711 W. Seventh St. previously was linked with a July 2002 mortgage of $1 million and an October 2006 mortgage of $500,000 held by Twin City Bank.

Rainwater Properties acquired the 0.57-acre development for $657,000 in July 2001 from Gary and Patricia Middleton.

 

 

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