Package Products Buy Adds Up to $1.8 Million Deal (Real Deals)

by George Waldon  on Monday, Sep. 17, 2012 12:00 am  

Arkansas Packaging Products Inc. acquired this project at 7701 Industry Drive for $1.8 million.

A 43,750-SF industrial facility in North Little Rock sold for $1.8 million.

Arkansas Packaging Products Inc., led by Mark Schaefer, acquired the project at 7701 Industry Drive. The seller is P&M Properties, led by Carl and Mary Peterson.

The deal is financed with a five-year loan of $1.44 million from Delta Trust & Bank of Little Rock.

The 4.39-acre development previously was tied to a February 1999 mortgage of $548,920 held by Superior Federal Bank of Fort Smith.

The location was bought for $52,000 in January 1995 from the estate of Herschel Friday, William and Mary Lou Cravens, the Boyce Love Testamentary Trust, William and Peggy Sutton, William and Elizabeth Terry, William and Kay Patton and the Oaklawn Jockey Club Inc., led by Charles Cella.


Burger Purchase

A new eatery is setting up shop in North Little Rock after a $350,000 transaction.

David's Burgers-Landers NLR Inc., led by David Bubbus, purchased the former Roadhouse Grill location at 3510 Landers Road from Great Lakes Credit Union of Chatsworth, Calif.

The deal is funded with a six-month loan of $799,000 from First State Bank of Russellville. The property previously was linked with a September 2005 mortgage of $1.66 million held by Great Lakes.

Great Lakes took ownership of the 0.97-acre development in December 2009 from Photoland LLC of La Crescenta, Calif., led by David Pany.

Photoland acquired the 6,800-SF restaurant from Sovereign Roadhouse LLC of Palo Alto, Calif., for a reported $2.5 million in September 2005, less than three years before Roadhouse Grill was liquidated in bankruptcy.




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