Southwest Little Rock Office-Retail Site Fetches $1.1 Million (Real Deals)

by George Waldon  on Monday, Nov. 5, 2012 12:00 am  

A 50,724-SF office-retail center in southwest Little Rock shifted ownership in a $1.1 million transaction.

Oakcliff LLC, led by Joseph Kelley, bought the 5-acre Little Rock Corporate Center development at 7501 Interstate 30 and its 86,000 SF of warehouse space from BMO Harris Bank of St. Louis.

The deal included two commercial parcels on East 11th Street in North Little Rock encompassing 5.4 acres.

The transaction is backed with a $3.9 million loan from BMO.

BMO entered the ownership picture when the properties were forfeited in lieu of foreclosure by Stephen and Pamela Murphy, Thomas and Deborah Holley and Joseph and Barbara Kelley.

The properties were acquired from Equitable Life Assurance Society of the United States of New York as part of two March 1999 deals totaling $3.7 million.

Carmel Abode

A 7,032-SF home in west Little Rock’s Carmel neighborhood tipped the scales at $1 million.

Doug Taylor and Thomas Sexton Jr. purchased the house from Phillip Kravetz and Alka Kravetz. The deal is funded with a 30-year loan of $417,000 from One Bank & Trust of Little Rock.

The residence previously was linked with two April 2006 mortgages totaling $1 million held by Bank of America in Charlotte, N.C.

The property was bought for $1.1 million more than six years ago from Edward and Mary Ellen Loebl.

Hillcrest Residence

 

 

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