Former Fellowship Offices Finds $4.6 Million Buyer (Real Deals)

by George Waldon  on Monday, Sep. 15, 2008 12:00 am  


An auto project in Sherwood changed hands in a $500,000 deal.

Car World Inc., led by Jeremy Perrone, acquired the Auto Buyers of Arkansas property at 6515 Warden Road from Billy Arrington and James and Rita Arrington.

The transaction is backed with a $400,000 loan from the sellers. The 0.9-acre location was purchased for $117,000 in August 1993 from Larry and Kim Vognet.

Car Wash Transaction

A car wash in midtown Little Rock drew a $284,000 transaction.

S&M Investors LLC, led by Herman Scott and Justin Muller, bought the 1618 S. University Ave. project. The seller is Wetsu Investments LLC, led by Charles Wade.

The deal is funded with a four-year loan of $284,000 from First Community Bank of Batesville. The 0.34-acre development previously was tied to a May 2007 mortgage of $150,000 held by Twin City Bank of North Little Rock.

The property was acquired for $225,000 in November 2006 from PK's Auto Spa Inc., led by Phillip Huffmaster.

Office Land

A 1.67-acre office site in west Little Rock is under new ownership after a $250,000 sale.

BBB&W LLC, led by Bek Kaiser, Billy Morden, Byron McKimmey and Willis Smith, purchased the land adjoining 12415 Cantrell Road from the Episcopal Diocese of Arkansas.

The transaction is financed with a one-year loan of $400,000 from BancorpSouth Bank of Tupelo, Miss.

The property was part of St. Michael's Episcopal Church and previously was linked with an August 2003 mortgage of $1.07 million held by Little Rock's Pulaski Bank & Trust.

The diocese bought the land in May 1992 for $150,000 as part of a 4.6-acre site deal with Sam Peck & Associates, led by Robert Peck.



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