Crackerbox Properties Top $16 Million in Pulaski County (Real Deals)

by George Waldon  on Monday, Oct. 22, 2012 12:00 am  

The Little Rock convenience store at 8821 Fourche Dam Pike topped the chart among Valero’s Pulaski County Crackerbox acquisitions.  Sales price: $3.8 million. (Photo by Michael Pirnique)

A 37.5-acre trucking terminal development in North Little Rock is helping back a $100 million funding agreement.

Transport Realty Inc. of Fort Smith received the five-year loan from U.S. Bank.

The site for the 130,000-SF ABF Freight System facility at 3100 Springhill Road was acquired for $1.04 million in September 1978 from General Properties Inc., led by James P. Matthews.

Cross Street Funding

About 77.5 acres in North Little Rock is securing a $35 million financial package.

Cross Street Service Inc., led by Don Salmon obtained the five-year loan of $20 million and a one-year revolving line of credit of $15 million from U.S. Bank.

The property on the west side of Forrester Road between East McCain Boulevard and East 46th Street largely was assembled in a dozen deals totaling nearly $4.3 million.

The sellers were: Yelenich  Family Trust, led by R.J. Yelenich, $1.58 million in September 2002; Woodcrest Co. LLP, led by James A. Matthews, $1.08 million in April 2002; Billy and Linda Morden, Wendall and Dianna Nicholson, $375,000 in March 2009; Sophia Brents, $245,000 in June 1997; Laverne Jones, $204,000 in April 1994; Louise McKee, $185,900 in June 1990; Dorothy Crone, $165,000 in November 1995; Maud Melvin, $140,000 in June 1998; Thelma Reed, $125,000 in July 1998; Rylwell LLC, led by Stephen Whitwell, $100,000 in March 2005; Louise McKee, $50,000 in June 1990; and Billy Joe and Kathleen Reed, $18,000 in August 1998.

Meadows Financing

Construction of 55 rental houses in Jacksonville is in motion with mortgages totaling $4.7 million.

Jacksonville Partnership for Housing Ltd., an affiliate of the Jacksonville Housing Authority, got 40-year loans of $3.8 million from Prudential Huntoon Paige Associates LLP of Dallas and $500,000 and $450,000 through the Arkansas Development Finance Authority of Little Rock.

The Meadows property, north of Adkins Elementary School on Cloverdale Road, previously was financed with December 2011 loans of $910,000 from First Arkansas Bank & Trust of Jacksonville and $38,762 from Traditional Development LLC, led by Brian Boroughs.

The residential lots were bought for $961,000 10 months ago from Traditional Development.



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