NLR Theatre Company Sets Stage for Faucette Building (Real Deals)

by George Waldon  on Monday, Feb. 2, 2009 12:00 am  

The new $ million home of Baldwin & Shell Construction Co. is taking shape in down Little Rock. The 23,00-SF structure at 1000 W. Capitol Ave. should be completed in April.

Industrial Sale I

An industrial property in North Little Rock tipped the scales at $2.9 million.

JWJ Investments LLC, led by Steven Jenkins, James Wallace and Allen Jenkins, bought the 7200 Industry Drive project. The seller is House Properties Inc., led by Byron House III.

The deal is financed with a $2 million loan from North Little Rock's National Bank of Arkansas. The 23-acre property previously was tied to a June 2005 mortgage of $2.67 million held by Metropolitan National Bank of Little Rock.

House Properties purchased the former RDC Sales project for $2.8 million more than three years ago from Little Rock's Bank of the Ozarks.

RDC Sales, led by Charles Robertson Jr., forfeited the property in February 2004 to Bank of the Ozarks in lieu of foreclosure.

Theatre Purchase

A downtown North Little Rock property is under new ownership after a $500,000 deal.

Argenta Community Theatre acquired the historic Faucette Building at 405 Main St. from Old Silver City LLC, led by John Gaudin.

The 0.2-acre development previously was tied to an April 2005 mortgage of $312,000 and a November 2006 mortgage of $1.09 million held by Twin City Bank of North Little Rock.

The former R&R Uniforms property was purchased for $390,000 in April 2005 from the Billy W. & Glenna Marcille Acord Joint Revocable Trust.

The Acords bought it for $63,000 in December 1984 from Phillip Malnick, Conrad Malnick and Rose M. Walker.

Christian Buy

A commercial site in North Little Rock rang up a $456,000 transaction.

Christian Brothers Maumelle Ltd., led by Mark Carr, purchased the property near the northwest corner of Maumelle Boulevard and Paul Eells Drive. The seller is WNLR Investments LLC, led by Andy Collins.

Development of the 0.77-acre location is backed with a three-year loan of $1.57 million from Amegy Bank of Houston.

The land is associated with a $2.3 million buy in September 2006 from David and Rose Wells, Claude Wells Jr. and his wife, Sally, and Stephen Wells.

The land was acquired as part of a $2,700 transaction with the U.S. Government in February 1946.

Southwest Transaction

Commercial property in southwest Little Rock is under new ownership after a $200,000 sale.

R&L Properties, led by Doyle Rogers and Tommy Lasiter, bought the All Arkansas Computer Services at 8100 Geyer Springs Road. The seller is CA&JL Enterprises Inc., led by Jim Bush.

The 0.77-acre development previously was linked with two October 2005 mortgages totaling $135,000 held by Silver Hill Finance LLC of Coral Gables, Fla.

CA&JL acquired the property for $150,000 in October 2005 from John and Sue Bush. The Bush family purchased it for $195,000 in May 1998.

The sellers were William and Elizabeth Terry, Joseph A. Terry and the Adolphine F. Terry Trust, 12.5 percent each; the estate of Leonard Drennan Jr., 8.34 percent; Mary Drennan Harne and her husband, Gary, and Leonard J. Drennan, 8.33 percent each; Joan Terry Oliver and her husband, J. Bruce, 6.95 percent; Tonya Terry Smith and her husband, William, 5.55 percent; Mary Yatsevitch, Margaret and Edward Yatsevitch, Stephanie Yatsevitch, Michael Yatsevitch and McGregor Yatsevitch, 5 percent each.

Industrial Sale II

An industrial parcel in North Little Rock drew a $196,000 transaction.

GIK LLC, led by Marvin Itzkowitz, acquired the site near the northwest corner of U.S. Highway 165 and Judi Drive. The seller is D&B Commercial Park LLC, led by James Dietz.

D&B Commercial Park purchased the 3.55-acre property in June 2001 as part of a $1.05 million transaction. The seller was I-440 Business Fiberpark LLC, led by George Wilcox.

The property was part of a 241-acre tract bought for $1.4 million in December 1997 from Wilcox Land & Cattle Co. by I-440 Business Fiberpark, originally led by Charles Tankersley.

University Property

Property in south Little Rock changed hands in a $162,000 deal.

5401 South University Building LLC, led by Stacie Dyer, purchased the land north of the Metropolitan National bank branch at 5601 S. University Ave. from the bank.

Metropolitan bought the 0.9-acre site for $136,000 in September 1972 from Genevieve Smith, Herschel Friday, William H. Bowen and William J. Smith. The land was acquired for an undisclosed sum in August 1969 from Jett Ricks and Noble Scotty Barber.

Maverick Funding

A trucking headquarters in North Little Rock is backing a $35 million funding agreement.

Maverick Real Estate LLC, led by Steve Williams, received the eight-month loan from First Tennessee Bank of Memphis.

Maverick Transportation's 111-acre spread at 13301 Valentine Road previously was linked with an April 2005 mortgage of $35 million held by the bank. The land was assembled in two deals totaling $1.1 million.

The sellers were Lena Belle Young Stafford Ltd., 89 acres for $1 million in March 2006; and Joe Melton Jr. and his wife, Barbara, and John Tull Jr. and his wife, Mary, 22 acres for $105,000 in May 1989.

Inn Financing

The owner of a motel in southwest Little Rock picked up a $1.56 million financial package.

Sagar Hospitality Inc., led by Dilip Patel, obtained the 3.5-year loan from Community Bank of Cabot.

The 2-acre Rest Inn development at 8217 Interstate 30 previously was tied to an April 2005 mortgage of $1.25 million held by the bank.

The property was bought for $1.39 million nearly four years ago from D.M.V. Inc., led by David Patel.

Rivercliff Loan

A 135-unit apartment project in the Riverdale area of Little Rock is securing a $1 million mortgage.

Rivercliff Co., led by Richard Cheek, got the one-year loan from Regions Bank of Birmingham, Ala.

The 16.4-acre Rivercliff Apartment development at 2000 Magnolia Ave. was built with a $200,000 loan after a June 1947 ownership shift from Arkansas Housing Corp.

Church Mortgage

A North Little Rock congregation picked up a $781,234 financial package.

First Assembly of God North Little Rock Inc. landed the funding agreement from Twin City Bank.

The 9.3-acre development at 4501 Burrow Drive also is linked with a July 2004 mortgage of $2 million held by Twin City Bank.

The location was purchased for $300,000 in March 1981 from Reed and Katherine McConnell; Donald D. Collie; John and Susan Jackson; Joe and Mary Smith; John and Phyllis Kincannon; and Kevin and Catherine McConnell.

Hillcrest Note

A 20,200-SF commercial project in the Hillcrest area of Little Rock is backing a $680,000 mortgage. DRB Ltd., led by Dennis Burrow, received the loan from Riverside Bank of Sparkman.

The 0.4-acre Hillcrest Square development at 3000 Kavanaugh Blvd. previously was tied to a September 2006 mortgage of $400,000 held by Regions Bank and a February 2008 mortgage of $100,000 held by Malvern National Bank.

The property was bought for $650,000 in August 1996 from Robert Friedl.     

 

 

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