NLR Trucking Development Sells for $1.5 Million

by George Waldon  on Monday, Mar. 12, 2007 12:00 am  

A 7.2-acre trucking development in North Little Rock changed hands in a $1.5 million deal.
CalEast Nat LLC of Annapolis, Md., bought the former Watkins Motor Lines project at 7700 Industry Drive from Main Street Associates, led by Robert Loudin and Edward Yanke.
The location previously was tied to a March 1999 mortgage of $897,000 held by General Electric Capital Business Asset Funding Corp. of Seattle.
The site was acquired for $159,000 in March 1998 from an investment group that included the estate of Herschel Friday; Nancy Friday; Wil-liam and Peggy Sutton; William and Elizabeth Terry; the Boyce Love Testamentary Trust; William Patton Jr. and his wife, Kay; William and Mary Lou Cravens; and the Oaklawn Jockey Club, led by Charles Cella.
El Chico Sale
A restaurant project in southwest Little Rock is under new ownership after a $1.2 million deal.
Cricdom II Elch LLC of Boston purchased the El Chico at 8409 Interstate 30 from USRP Funding 2001-A Ltd. of Orlando, Fla.
The 0.68-acre development previously was linked with a January 2001 mortgage of $175 million held by Wells Fargo Bank of Columbia, Md.
USRP Funding bought the property for $779,000 more than six years ago from U.S. Restaurant Properties Operating Ltd. of Dallas.
Jacksonville Site
A 0.75-acre commercial site in Jackson-ville rang up a $388,000 sale.
Onejay LLC, led by Jeffrey Voscamp, acquired the property in the 600 block of West Main Street. The seller is MJMJ LLC, led by Mike Wilson, Jim Peacock, Mike Abdin and Jim O'Brien.
The property previously was used to help secure a June 1998 mortgage of $1.2 million held by First Arkansas Bank & Trust of Jacksonville.
MJMJ purchased the location more than eight years ago for $800,000 as part of the 12-acre, 130,000-SF Jacksonville Center at 600 W. Main St. The sellers were Emily and Steven Lowry, $267,000; the Mary Remmel Wohlleb Trust, $267,000; and the Ruth R. Remmel Trust, $266,000.
Car World
An auto location in Sherwood sold for $182,000. Car World Inc., led by Elizabeth Perrone, bought the Arthur's Import Cars property at 5810 Warden Road from Arthur and Marian Burns.
The deal is funded with a 15-year loan of $175,000 from Metropolitan National Bank of Little Rock.
The 0.2-acre property previously was tied to a July 2003 mortgage of $125,000 held by May Co. LLC, led by Jerry May.
The Burns family acquired the property from May Co. nearly four years ago for $135,000.
Hickory Grove Home
A 4,000-SF home in west Little Rock's Hickory Grove neighborhood drew a $645,000 sale.
Cranford Living Trust, led by Boyce and Patricia Cranford, purchased the house from Markus-Evans LLC, led by James Markus and Robert Evans.
Construction of the residence was financed with a May 2006 mortgage of $520,000.
The location was bought as part of a $725,000 transaction with First Baptist Church in July 2003.
Chenal Valley Abode
A 4,923-SF home in west Little Rock's Chenal Valley neighborhood changed hands in a $590,000 deal.
Marian Marie James Revocable Trust acquired the house from Rebekah Price Construction Inc. The deal is backed with a 25-year loan of $589,900 from Merrill Lynch Credit Corp. of Jacksonville, Fla.
The residence previously was linked with a September 2004 mortgage of $456,000 held by Regions Bank of Birmingham, Ala.
The location was purchased for $73,000 more than two years ago from Deltic Timber Corp. of El Dorado.
Apartment Refinance
Two Bronxville, N.Y.-based groups picked up a $12 million funding agreement secured by a pair of Pulaski County apartment projects.
5813 Baseline Road Realty Co. LLC and Arrow's Edge Apartments Ltd. obtained the one-year loan from Rait Partnership Ltd. of Philadelphia.
The 10.8-acre Colonial Parc development at 5813 Baseline Road previously was tied to a July 2005 mortgage of $6.6 million held by BRT Realty Trust of Great Neck, N.Y.
The 257-unit apartment project in southwest Little Rock was bought for $6.6 million nearly two years ago from Blue Valley Apartments Inc. of West Palm Beach, Fla.
The 4.3-acre Arrow's Edge Apart-ments development at 300 Indianhead Cove in Sherwood previously was linked with an April 2006 mortgage of $3.8 million held by BRT.
The 118-unit apartment project was acquired for $1 million in April 1991 from the Federal Deposit Insurance Corp., as receiver for FirstSouth of Pine Bluff.
Car Wash Funding
Three Splash Carwashes in Little Rock were used to secure a $1.85 million financial package.
Clean Tech Ventures Inc., led by Paul Stagg, received the five-year loan from First State Bank of Lonoke.
The 0.68-acre project at 9020 Geyer Springs Road previously was tied to a July 2001 mortgage of $869,500 held by One Bank & Trust of Little Rock.
Clean Tech purchased the site for $175,000 nearly six years ago from Baseline Partners LLC, led by Robert Friesen.
The 1.3-acre project at 5608 Asher Ave. previously was linked with a September 1999 mortgage of $774,600 held by One Bank.
Clean Tech bought the property for $135,000 in August 1999 from Fast Food Fair, led by J.B. McIlroy.
The 1.9-acre project at 8020 Baseline Road previously was tied to a September 1997 mortgage of $540,000 held by North Little Rock's National Bank of Arkansas and an August 1998 mortgage of $211,000 held by Arkansas Certified Development Corp. of Little Rock.
The property was assembled in two transactions totaling $175,000 in Sep-tember 1997. The sellers were Perry Butler Sr. and his wife, Roasalind, $90,000; and Stephen Moody, $85,000.
Skating Loan
The owner of a west Little Rock skating venue landed a $1.3 million mortgage.
JL Holdings Ltd., led by Lonnie Hannah, got the five-year loan from Independent Bank of Texas in Irving.
The 3.5-acre Little Rock Skating Arena development at 1311 S. Bowman Road previously was linked with a pair of June 2000 mortgages, a $670,000 loan from Independent Bank and a $200,000 loan from Herman Inc., led by Bruce Thalheimer.
JL Holdings acquired the property for $1.1 million nearly seven years ago from BLT Leasing Inc., led by Thalheimer.
Scott Mortgage
A North Little Rock enterprise is backed with a $1.2 million loan.
Scott Enterprises LLC, led by Nels and Melinda Scott, got the funding from North Little Rock's National Bank of Arkansas.
The 8.7-acre project at 8007 Counts Massie Road previously was tied to an August 2005 mortgage of $1.1 million held by the bank.
The property was purchased in August 2001 as part of a $400,000 deal with Kevin Horton Properties LLC, led by Kevin Horton.

 

 

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