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.


Convenient Location

A convenience store location in Sherwood is under new ownership after a $300,000 sale.

Abdul Butt bought the 0.4-acre property at 14218 Highway 107 from the Yelenich Family Trust, led by Roy Yelenich.

The trust provided a $225,000 loan to finance the deal. The project was purchased for $500,000 in December 2006 from Robert and Shirley Johnston and Donna Shaw.


Heights House

A 5,151-SF home near the Country Club of Little Rock tipped the scales at $1.04 million.

Michael and Pamela Ashcraft acquired the house from Lynn Thomas and Paul Smith.

The deal is backed with a 30-year loan of $832,000 from Arvest Bank of Fayetteville.

The residence previously was tied to a January 2011 mortgage of $900,000 held by U.S. Bank of Cincinnati and a February 2011 mortgage of $59,144 held by Riverside Bank of Sparkman (Dallas County).

The location was bought for $340,000 in March 2007 from Justin Stewart and Jennifer Kidd.


Prospect Home

A 4,227-SF home in Little Rock's Prospect Terrace neighborhood rang up a $735,000 sale.

5036 Crestwood Trust, led by Doug Burford, purchased the house from the Bartlett Family Trust, led by David Bartlett Sr. and his wife, Nancy.

The deal is funded with a 30-year loan of $300,000 from Centennial Bank of Conway. The residence previously was linked with a December 2010 mortgage of $417,000 held by Simmons First Bank of Hot Springs.

The Bartlett trust acquired the property for $879,600 in March 2006 from John and Lori Atwood.


Sezanne Abode

A 5,467-SF home in the Sezanne neighborhood of west Little Rock's Chenal Valley development drew a $655,000 transaction.

Tim and Amy Hebron bought the house from The Chapman Joint Revocable Trust, Ralph Chapman Jr. and his wife, Robbie.

The deal is financed with a 30-year loan of $475,000 from Toyota Financial Consumer Solutions of Henderson, Nev.

The residence previously was tied to March 2009 mortgages of $417,000 and $139,000 held by Regions Bank of Birmingham, Ala.

The location was purchased for $82,000 in March 2008 from Gregory and Lisa Worthington.



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