NLR Hooters Restaurant Sells for $1.93 Million (Real Deals)

by George Waldon  on Monday, Aug. 28, 2006 12:00 am  

The North Little Rock Hooters restaurant changed hands in a $1.93 million deal.

Slevin Capital Development Corp. of South Barrington, Ill., purchased the project at 4110 Landers Road from Bar-rett Ventures I LLC, led by Tommy Twitty.

The deal is financed with a five-year loan of $1.44 million from Greatbank of Algonquin, Ill. The 1.1-acre development previously was tied to an August 2005 mortgage of $1.25 million from Paragon Commercial Bank of Raleigh, N.C.

Barrett Ventures acquired the property a year ago for $650,000 from La Quinta Properties Inc. of Irving, Texas.

Office Site

A future office building site in downtown Little Rock rang up a $1.46 million transaction.

100 No. Street Q1 LLC, led by Witt Stephens Jr. and Elizabeth Stephens Campbell, bought the one-time home of the Balch Mazda service center at 1000 North St.

The sellers are James Balch; Beverly B. Hoofman and her husband, Ronald; Helen B. Moix and her husband, David; and Anne B. Ward and her husband, Seth.

The heart of the property was purchased for $116,000 in October 1974 from Cromwell Neyland Truemper Millett & Gatchell Inc.

Bank Building

A historic 12,500-SF office building in downtown Little Rock drew a $1.15 million sale.

Riverside Bank of Sparkman (Dallas County) acquired the Zeb Ward Building at 1001 W. Markham St. from SCD Interests LLC, led by Chester Storthz and Stephen Davis.

The 0.46-acre development previously was linked with June 2002 mortgage of $852,500, an August 2003 mortgage of $27,500 and a July 2005 mortgage of $50,000 held by Allied Bank of Mul-berry.

SCD bought the property for $428,000 in May 2000 from Zeb Ward Property Partnership, led by Shelby Woods, Kenneth Sims and Jim Wilkins.

Downtown Deal

A commercial project in downtown North Little Rock tipped the scales at $950,000.

Broadway Street LLC, led by John Gaudin, purchased the James Bro-thers Office Supply & Furniture at 200 E. Broadway. The seller is James Brothers Partnership, led by Charles Fowler and Floyd Raney.

The deal is funded with a one-year loan of $1.2 million from Twin City Bank of North Little Rock. The 0.6-acre development previously was tied to a March 1988 mortgage of $271,635 held by Twin City Bank.

The property was acquired for $300,000 in October 1984 from the city of North Little Rock.

Auto Purchase

An auto property in downtown North Little Rock is under new ownership after a $556,000 deal.

Rick Henderson bought the Twin City Motors project at 916-920 E. Broadway from its namesake corporation, led by John H. Jones.

The 0.8-acre development previously was linked with two January 2004 mortgages, a $270,000 loan from Sheila Chenault and a $50,000 loan from Southern Pioneer Life Insurance Co. of Trumann (Poinsett County).

Twin City Motors Inc. purchased the property for $280,000 19 months ago from Chenault.

Office Sale

Medical office space in west Little Rock sold for $425,000.

Multi-Management Services Inc., the for-profit arm of Baptist Health, acquired the third-floor space in the Medical Towers I Building at 9601 Lile Drive from John and Kathy Ransom.

The Ransoms assembled the office space in two transactions totaling more than $100,000. The sellers were James Wellons, $100,000 in May 1989; and WRS Properties, led by John Weiss, Ransom and Thomas Smith.

Downs Home

A 5,100-SF home in west Little Rock's Chenal Downs neighborhood changed hands in a $2.3 million transaction.

Waterview Estates LLC, led by Rick Ferguson, bought the 10-acre residential spread from the Russell Huck-aby Revocable Trust.

The property previously was tied to a November 2005 mortgage of $1.6 million held by NBA Mortgage Group of Little Rock and a January 2006 mortgage of $250,000 from Citibank Federal Savings Bank of Reston, Va.

Waterview Estates retained half the land and sold the home for $2 million to Steve Wortman.

The property was assembled in two transactions totaling $228,000. The sellers were Deltic Timber Corp. of El Dorado, $128,000 in February 2004; and Fellowship Bible Church, $100,000 in April 2003.

Chenal Abode I

A 4,396-SF home in west Little Rock's Chenal Valley neighborhood drew a $675,000 sale.

Charles Turbeville acquired the house from Don and Linda Myers. The deal is backed with a 15-year loan of $400,000 from Taylor Bean & Whitaker Mortgage Corp. of Ocala, Fla.

The residence previously was tied to an April 2005 mortgage of $85,000 held by Metropolitan National Bank of Little Rock.

The property was purchased for $625,000 16 months ago from Carl and Kathy Henson.

PV Residence

A 3,457-SF home in west Little Rock's Pleasant Valley neighborhood is under new ownership after a $618,000 deal.

Donald and Kay Bona bought the house from Matthew and Elizabeth Roach. The deal is financed with a 30-year loan of $494,400 from Riverside Mortgage Co. of Little Rock and a one-year loan of $100,000 from Bancorp-South Bank of Tupelo, Miss.

The residence previously was linked with two August 2005 mortgages totaling $498,000 held by Bank of Little Rock Mortgage Co.

The property was acquired for $525,000 a year ago from Byron and Linda Southern.

Chenal Abode II

A 3,178-SF home in west Little Rock's Chenal Valley neighborhood sold for $618,000.

Marvin and Charisse Childers purchased the house from Ben and Jean Duggan. The deal is funded with two five-year loans of $225,000 and a 15-year loan of $150,000 from Regions Bank of Birmingham, Ala.

The residence previously was tied to a February 2003 mortgage of $365,500 held by One Bank & Trust of Little Rock.

The property was bought for $476,000 in April 2002 from Shields-Harrison Custom Home Builders Inc., led by Gary Shields.

Hickory House II

A 3,632-SF home in west Little Rock's Hickory Pointe neighborhood changed hands in a $565,000 deal.

William and Virginia Cawthon acquired the house from Darin and Christine Hicks. The deal is backed with a 30-year loan of $365,000 from Pulaski Mortgage Co. of Little Rock.

The residence previously was linked with a May 2004 mortgage of $333,700 held by BancorpSouth Bank.

The property was purchased for $525,000 more than two years ago from Graham Smith Construction LLC of Little Rock.

Hotel Loan

About 73,000-SF of hotel space in downtown Little Rock is securing a $13.5 million funding agreement.

McKibbon Hotel Group of Gainesville, Ga., obtained the 10-year loan from Countrywide Commercial Real Estate of Calabasas, Calif.

The Marriott Courtyard at 521 President Clinton Ave. previously was tied to an October 2004 mortgage of $9 million held by Regions Bank.

McKibbon Hotel Group bought its space on the first six floors of the First Security Center for $9.09 million in October 2004 from Clinton & Sherman Building LLC, led by Jimmy Moses and Rett Tucker.

Acreage Funding

The owner of more than 500 acres in North Little Rock picked up a $2.4 million financial package.

Pfeifer Family Ltd. No. 1, led by Gene Pfeifer, received the three-year loan from Bank of the Ozarks.

The land, part of the Northshore development and surrounding property near the southeast corner of Interstate 430 and the Arkansas River, previously was linked with a July 2002 mortgage of $2 million held by the bank.

The tract was acquired in May 2000 for $2.1 million as part of a 600-acre deal with Karen Smith Riecke and North Shore Ltd., led by Harold Tenenbaum.

Cookie Mortgage

The owner of a North Little Rock cookie company landed a $900,000 mortgage.

Brent & Sam's Inc., led by Brent Bumpers, got the five-year loan from Metropolitan National Bank.

The 4.1-acre development at 30 Collins Industrial Place previously was tied to a November 2000 mortgage of $995,000 held by the Ar-kansas Development Finance Auth-ority and a November 2001 mortgage of $250,000 held by Metropoli-tan.

Brent & Sam's assembled the property in two deals for $84,000. The sellers were Herbert Collins, $55,000 in March 2000; and the Herbert Collins estate, $29,000 in October 2000.

 

 

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