Maumelle Industrial Site Acquired for $1.3 Million (Real Deals)

by George Waldon  on Monday, Dec. 24, 2012 12:00 am  

Development of a 100,000-SF distribution facility is planned to follow a $1.3 million land deal in Maumelle.

Medline Industries Inc. of Mundelein, Ill., bought the 20-acre tract at the north end of Sharkey Drive from Burkhalter Leasing LLC, led by John Burkhalter.

The land previously was used to help secure an August 2006 mortgage of $1.25 million held by North Little Rock’s National Bank of Arkansas.

The property was purchased for $750,000 in July 2004 as part of a 97.4-acre deal with Ron Campbell.

Retail Space

A former Wal-Mart in Jacksonville changed hands in a $1.1 million transaction.

TLBT LLC, led by Tommy Lasiter and Bruce Thalheimer, acquired the 125,955-SF retail building at 612 N. J.P. Wright Loop Road.

The seller is Germania Property Investors IX Ltd. of Alpharetta, Ga. The deal is financed with a five-year loan of $750,000 from BancorpSouth Bank of Tupelo, Miss.

The limited partnership bought the 8.7-acre development for $3.3 million in July 1989 from King Rogers III and his wife, Judy.

Office Transaction

A 5,261-SF office building in downtown Little Rock is under new ownership after a $300,000 sale.

Noble Strategies Inc., led by Ben Noble, purchased the 1020 W. Third St. project. The seller is Darragh Investments Co., led by F. Kramer Darragh III. The deal is funded with a 10-year loan of $254,575 from Regions Bank of Birmingham.

Darragh Investments acquired the 0.26-acre property for $390,000 in Jan-uary 2003 from Bottom Line Inc., led by Charles Hinson.

Sologne Home

A 4,944-SF home in the Sologne Circle neighborhood of west Little Rock’s Chenal Valley development rang up a $930,000 transaction.

Christopher and Holly Sessions bought the house from James and Jill Cady. The deal is backed with a 30-year loan of $417,000 from Bank of Little Rock Mortgage Corp. and a five-year loan of $273,000 from BancorpSouth Bank.

The residence previously was tied to an April 2005 loan of $650,000 from First Financial Bank of El Dorado and a July 2006 mortgage of $150,000 held by Regions Bank.

The property was purchased for $885,000 in April 2005 from Wayne Moore Construction Co.

Bretagne Abode

A 5,971-SF home in the Bretagne Circle neighborhood of west Little Rock’s Chenal Valley development sold for $715,000.

James and Jill Cady acquired the house from Todd Havens. The deal is financed with a 30-year loan of $300,000 from One Bank & Trust of Little Rock.

The residence previously was linked with two November 2011 mortgages totaling $608,000 held by Centennial Bank of Conway.

The property was bought for $740,000 in June 2008 from the Grace E. Alley Revocable Trust.

Church Construction

A church expansion in west Little Rock is backed with an $8 million funding agreement. Second Baptist Church obtained the five-year loan from Little Rock’s Bank of the Ozarks.

The 10.6-acre campus at 1709 John Barrow Road previously was tied to an April 2006 mortgage of $2.1 million held by the bank.

The congregation bought most of the property for $400,000 in December 1987 from Hebron Baptist Church. An adjoining 1 acre was added in April 2005 in an $85,000 deal with James Moore Jr. and his wife, Linda.

About 4.6 acres were purchased for $675,000 in December 2006 from Carol and Marvin Thaxton Sr., Margaret and Marvin Thaxton Jr. and Franklin and Gail Fogelman.

The funding agreement also is secured by the 3-acre Faith Christian School project at 6111 W. 83rd St. Ownership shifted from Faith Christian to the church for an unrecorded sum in November 2004. n

 

 

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