Burger Combo Adds Up to $1.66 Million Sale

by George Waldon  on Monday, Sep. 24, 2012 12:00 am  

The 160,000-SF warehouse at 1900 E. Roosevelt Road, now under new ownership after a $1.4 million deal. (Photo by Mark Friedman)

Two Back Yard Burgers in Pulaski County changed hands in a $1.66 million sale.

Arkansas Realty Development LLC, led by Emily Fan, bought projects at 2511 McCain Blvd. in North Little Rock and 305 N. Shackleford Road in west Little Rock. The seller is Realty Income Corp. of Escondido, Calif.

The 0.32-acre west Little Rock development was acquired for $609,000. The 0.31-acre North Little Rock development was purchased for $1.05 million.

The seller in both November 2007 deals was Little Rock Back Yard Burgers Inc., led by Reid Zeising.

Warehouse Acquisition

A 160,000-SF warehouse property is under new ownership after a nearly $1.4 million transaction.

Goff Warehouse LLC, led by Richard Goff, acquired the Integrated Distribution facility at 1900 E. Roosevelt Road from Curtis Finch Jr.

The deal is financed with a five-year loan of $2 million from First Federal Bank of Harrison.

Finch recovered the property in March 2012 when Goff Industries LLC, led by Michael Goff, forfeited it in lieu of foreclosure.

The 4.48-acre development was tied to a January 2009 mortgage of $1.45 million held by Finch. Goff Industries bought the project for $1.65 million at the time.

Agri Purchase

About 301 acres in southeast Pulaski County were assembled in five transactions totaling $1.05 million.

Carlton Farms LLC of Columbia, Ill., purchased 177 acres from Jo Beth James and Marty James for $627,000.

Other acquisitions included Dorise Page, 59 acres for $207,000; Jan Earp, 58 acres for $194,000; Gertrude Ryles, five acres for $18,000; and Square Deal Inc., led by Marvin Itzkowitz, 1.66 acres for $6,000.

The land is at the northeast corner of Highway 161 and River Road.

The deal is funded with a 10-year loan of $567,050 from Rabo Agrifinance Inc. of St. Louis, Rabobank of El Centro, Calif., and Rabobank Nederland.

Terminal Transaction

A 13.05-acre truck terminal development in North Little Rock rang up a $700,000 sale.

Grace Trailer Services LLC of West Memphis bought the 2228 Central Airport Road project from Heringer Investment Properties LLC of Jonesboro.

The deal was backed with a six-month loan of $560,000 from Fidelity National Bank of West Memphis.

The 6,660-SF facility previously was linked with an April 2002 mortgage of $248,000 held by Bank of Jonesboro and an April 2009 mortgage of $170,779 held by its successor, Liberty Bank of Arkansas.

The property was purchased for $211,666 in August 2001 from PFT Roberson Inc. of Champaign, Ill.

Gleason Acreage

The sale of a 101.7-acre tract in west Little Rock tipped the scales at $2.67 million.

Timber Tract 10 LLC, led by George Gleason, acquired the undeveloped land along Denny Road from Gold Family Properties LLC, led by Allan and Laura Gold.

The deal is financed with a five-year loan of $2.13 million from BancorpSouth Bank of Tupelo, Miss.

The property was bought for $211,000 in May 1982 from William and Odeal Brown.

Heights House

A 2,912-SF house in Little Rock's Forest Heights neighborhood sold for $645,000.

John Riggs III and his wife, Lila, purchased the house from Larry and Carolyn Schwaller.

The deal is funded by a 15-year loan of $425,000 from Bank of America in Charlotte, N.C. The residence previously was tied to a September 2002 mortgage of $208,000 held by Little Rock's Bank of the Ozarks.

The Schwallers acquired the property for $421,000 in December 2001 from Zipco of Little Rock Inc., led by Joe Prause.

Pine Manor Abode

A 4,100-SF home in Little Rock's Pine Manor neighborhood drew a $615,000 transaction.

Lynn Thomas and T.P. Smith bought the house from Alan and Elizabeth Miller. The deal is backed with a 30-year loan of $515,000 from U.S. Bank of Cincinnati.

The residence previously was linked with July 2008 mortgages of $417,000 held by Taylor Bean & Whitaker Mortgage Corp. of Ocala, Fla., and $151,000 held by Heartland Community Bank of Bryant.

The property was purchased for $555,000 in October 2007 from Andrew and Sarah Webre.

Kingwood Home

A 5,001-SF home in Little Rock's Kingwood Place neighborhood changed hands in a $600,000 sale.

Matthew and Kelly Steliga acquired the house from Matt and Pam Stone. The deal is financed with a 15-year loan of $417,000 and a 30-year home equity line of credit of $62,920 from Bank of America.

The residence previously was tied to an October 2011 mortgage of $410,000 and a July 2009 mortgage of $79,000 held by Bank of the Ozarks. The property was bought for $365,000 in July 2007 from James Rule and Anna Cox.

Canal Pointe House

A 2,646-SF home in Little Rock's Canal Pointe neighborhood is under new ownership after a $540,000 deal.

Spencer Andrews and Jennifer Purvis purchased the house from Joe Peacock. The deal is funded with a 30-year loan of $417,000 held by Delta Trust Mortgage Inc. of Little Rock.

The residence previously was linked with a May 2004 mortgage of $333,700 held by Bank of Little Rock Mortgage Corp.

The property was acquired for $510,000 in May 2004 from Gene and Scarlett Cauley.

Prospect Terrace Abode

A 3,516-SF home in Little Rock's Prospect Terrace neighborhood rang up a $500,000 deal.

Patrick and Celeste Barker bought the house from Rachel Allen.

The property was purchased for $70,000 in October 1972 from O.A. and Stina Cook.

 

 

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