Bowman Plaza Sale Tops $10.1 Million (Real Deals)

by George Waldon  on Monday, Dec. 10, 2012 12:00 am  

Bowman Plaza I & II exited court-ordered caretaking  three years after Gene Cauley’s financial meltdown. (Photo by Jason Burt)

Warehouse Purchase

A 50,000-SF warehouse in east Little Rock rang up a $660,000 sale.

Peyton Properties LLC, led by William and Lisa Locke, acquired the 7424 Lindsey Road project from Min Weng.

The deal is funded with a three-year loan of $850,000 from Signature Bank of Springdale.

The 6-acre development previously was tied to a June 2006 mortgage of $1.39 million held by Metropolitan National Bank of Little Rock, supported by a August 2006 SBA loan of $640,000 through Six Bridges Capital Corp. of Little Rock.

Weng purchased the Little Rock Dis-tributing Co. property for $1.55 million more than six years ago from Ben and Diane Davis.

Convenient Acquisition

A North Little Rock convenience store is under new ownership after a $600,000 deal.

Gosen LLC, led by Joseph Park, bought the 5421 MacArthur Drive project from Kyong Son. The deal is funded with a five-year loan of $390,000 from BancorpSouth Bank of Tupelo, Miss.

The 0.49-acre Phillips 66 development previously was linked with a May 2004 mortgage of $400,000 held by North Little Rock’s National Bank of Arkansas.

The project was acquired for $600,000 more than eight years ago from Justin and Chong Kim.

Multifamily Buy

 

 

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