John Deere Dealership Attracts $3.85M Sale (Real Deals)

by George Waldon  on Monday, Feb. 4, 2013 12:00 am  

A John Deere dealership in the Otter Creek area of Little Rock tipped the scales at $3.85 million. Stribling Equipment LLC of Richland, Miss., bought the 47.25-acre Warrior of Arkansas Inc. spread at 10601 Otter Creek East Blvd.

The seller is Alawest-Al LLC of North-port, Ala. The deal is funded with a $2.85 million loan from Alabama 1031 Property Exchange Inc. of Mobile.

Alawest acquired the land in March 2006 as part of a $1.4 million deal with Bird Cold Storage Partnership, led by Robert and Sam Vogel.

Entergy Acquisition

Land adjoining a west Little Rock substation changed hands in an $800,000 sale.

Entergy Arkansas Inc. purchased 2.7 acres near the northwest corner of Kanis Road and Chenal Parkway from BNT Properties Corp., led by Bill Cobb.

The property previously was tied to a January 2010 mortgage of $126,000 held by Centennial Bank of Conway.

BNT bought the property for $313,000 three years ago from Louis Wolters Jr.

Retail Rail Land

A subsidiary of the nation’s largest retailer acquired a piece of a leased Little Rock location in a $350,000 transaction.

Wal-Mart Real Estate Business Trust of Bentonville bought a 1.02-acre strip of land that runs along the northern perimeter of the neighborhood market site at 2510 Cantrell Road.

The seller is Little Rock & Western Railway Ltd., led by Gerald Gates.

The rail right-of-way property was purchased in November 1981 as part of a $2.7 million deal with the bankruptcy estate of the Chicago, Rock Island & Pacific Railroad Co.

Professor Purchase

A 34,036-SF one-time bowling project in southwest Little Rock is under new ownership after a $200,000 deal.

Talon Property Management Inc., led by Maurice Mahmoud, bought the former Professor Bowl South at 8624 Interstate 30. The seller is Thone South Property LLC, led by Rick Thone.

The 3.64-acre development previously was linked with a May 2008 mortgage of $315,000 and a July 2008 mortgage of $150,000 held by Bank of America in Charlotte, N.C.

Southway Corp., led by Newman McGee, forfeited the property in lieu of foreclosure in May 2008. It was

once used to help secure a September 2006 mortgage of $2.7 million held by BLX Capital LLC of New York.

Convenient Buy

A convenience store in North Little Rock rang up an $180,000 sale. Mayur Patel purchased the 2,209-SF Junction Market at 6601 Hwy. 161.

The property was sold by the Trout-man Joint Revocable Trust, led by Toby Troutman.

The 0.6-acre development was bought for $90,000 in December 2004 from John and Brenda Akel.

Woodlands Home

A 4,300-SF home in west Little Rock’s Woodlands Edge neighborhood drew a $559,000 transaction.

Anthony and Brandy Dalby acquired the house from HRH Builders Inc., led by William Darby and Randy Wright.

The deal is financed with a 30-year loan of $545,000 from Suntrust Mortgage Inc. of Richmond, Va.

The residence previously was tied to a March 2012 mortgage of $459,000 held by First Security Bank of Searcy.

The location was purchased for $68,000 in October 2011 from Rocket Properties LLC, led by Ron Tyne.

Villa Construction

Construction of 108 apartments in Maumelle is backed with an $8.8 million funding agreement.

The Villa At River Pointe Drive Land LLC, led by Edward and Christopher Blake Jackson, obtained the three-year loan from First Security Bank.

The 10.5-acre location between River Pointe Drive and Counts Massie Road was assembled in four deals totaling $363,000.

The sellers were Shelly Bixler, $200,000 in March 2003; the estate of Reva Langrell, $78,000 in September 1998; William and Janet Watkins, $65,000 in March 1998; and John and Mary Trawick, $20,000 in March 1998.



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