Little Rock Bank Branch Resale Closes at $1.1 Million (Real Deals)

by George Waldon  on Monday, Oct. 29, 2012 12:00 am  

A bank branch in downtown Little Rock was repurchased in a $1.1 million transaction.

Allied Bank of Mulberry (Crawford County) bought its 1022 W. Capitol Ave. office from WBL LLC, led by Walter Quinn III. WBL acquired the 0.52-acre development eight months ago from Allied Bank for $1.1 million.

The property remains tied to a two-year loan of $963,900 from Chambers Bank of Danville and a five-year loan of $171,816 from Allied Bank.

The bank purchased the half-acre property in November 2001 for $300,000. The sellers were:

Mary Catherine Drennan, Leonard Drennan, Mary Yatsevitch, Margaret Yatsevitch, Stephanie Yatsevitch, Michael Yatsevitch, McGregor Yatsevitch, Susan Terry Borne, Elizabeth Terry Foti, Joseph Terry, Tonya Terry Smith, William Terry, Joan Terry Oliver and the Adolphine F. Terry Trust.

The Drennan, Yatsevitch and Terry families bought the bank branch from Little Rock's Worthen Bank & Trust in January 1974 for $913,000.

Storage Land

A 7.3-acre piece of west Little Rock changed hands in a $612,000 sale.

Chenal Storage Center LLC, led by Graham Smith, acquired the property that included a 2,776-SF house at 15575 Kanis Road from Peggy Robbins.

The redevelopment is backed with a five-year loan of $1.7 million from Little Rock's Bank of the Ozarks.

The Robbins family purchased the property for $44,000 in September 1980 from Richard and Martha Jane Gardner.

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