Harco Leading Dealership (Real Deals)

by Paul Gatling  on Wednesday, Nov. 21, 2012 9:50 am  

Development on MoberlyHarco Constructors Inc. of North Little Rock is using a building permit valued at $1.8 million for a new automobile dealership in Bentonville.

The 11,720-SF dealership, known as Landers McLarty Pre-owned, is under construction at 2601 S.E. Moberly Lane, north of Buffalo Wild Wings.

The development will have 260 spaces for inventory and 64 parking spaces for customers.

Black Corley Owens + Hughes of Benton is the architect.

GarNat Engineering LLC of Benton, Live Oak Engineering Inc. of Birmingham, Ala., and Pack Engineering Inc. of Little Rock are the engineers.

RLJ McLarty Landers Automotive partnership of Little Rock acquired the 5.5 acres for $1.45 million in September 2011.

Overland Development Inc., led by president David E. Covington, was the seller.


Subdivision Sell

Ownership of a subdivision that was once in the development portfolio of Brandon Barber changed hands in a $1.45 million deal.

C Holdings LLC of Danville bought 39 lots, at an average of $36,743 per lot, in the Sloan Estates addition off Arkansas Highway 45 and Gulley Road in Fayetteville.

Mike Donnell is the registered agent for C Holdings. Donnell, formerly the CFO of Chambers Bancshares Inc., was recently named president of subsidiary Chambers Bank of Danville.

C Holdings bought the land from the Washington County Property Owner Improvement District No. 7.

The property initially belonged to LynnKohn LLC, led by developers Barber and Seth Kaffka. Development of the 57-lot subdivision on 32 acres began in 2005.

Barber filed for Chapter 11 bankruptcy of his LynnKohn LLC in August 2008.

He listed $3.1 million worth of unsold lots in Sloan Estates.

The Bank of Fayetteville and Chambers Bank each held mortgages on the property for $1.7 million and $1.3 million, respectively.


Poultry Property

A poultry farm in Lincoln drew a $1 million sale recently.

Dung Nguyen bought the 39.08-acre property on Mortenson Road from Koua and Chong Lee.

First Financial Bank in Fayetteville financed the deal with a mortgage worth $1.05 million.

The property includes a 1,680-SF house built in 1991 and 10 chicken houses.

Submit tips about lease activity, construction, transactions or upcoming projects valued at $300,000 or more to Paul Gatling at pgatling@nwabj.com. Please write ‘Real Deals’ in the subject line.



Please read our comments policy before commenting.