Kum & Go Attracts $3.1 Million Sale (Real Deals)

by George Waldon  on Monday, Mar. 11, 2013 12:00 am  

A convenience store in south Little Rock rang up a $3.1 million transaction.

John J. Sorci Trust of San Jose, Calif., acquired the Kum & Go project at 6201 Col. Glenn Road from KG Store 140 LLC of West Des Moines, Iowa.

The deal is financed with a 20-year loan of $2.17 million from Great Southern Bank of Springfield.

A 2.02-acre development previously was tied to a June 2012 mortgage of $2.4 million held by First National Bank of Omaha, Neb.

KG Store 140, an affiliate of the Kum & Go chain, purchased the parcel at the southwest corner of University Avenue and Col. Glenn Road for $1.08 million. The seller was Van D’Lay Industries LLC, led by Andy Collins.

Farm Sale

A southeast Pulaski County farm changed hands in a $1.5 million sale.

Full Harvest Agricultural REIT II Inc. of Clarksdale, Miss., bought 415 acres, most of which is at the southwest corner of Allison Loop and Allison Road. The seller is Webb Family Farm LLC, led by Marilyn Webb Buffalo and Jim Webb.

The Webb family acquired the property for an undisclosed sum in September 1949 from W.L. and Ida Allison.

Auto Transaction

A former Toyota dealership in Little Rock is under new ownership after a $575,000 sale.

Landers University LLC, led by Scott Landers, purchased the 5.1-acre development at 5909 S. University Ave. The seller is B&C Investments of Arkansas Inc., led by James Young.

The deal is backed with a five-year loan of $575,000 from Regions Bank of Little Rock.

The property was assembled in four transactions totaling more than $58,000. The sellers were Terry Byron, $35,000 in December 2008; Lewis Storthz and Sam Storthz Jr., trustees, $18,000 in June 1956; John Engelberger, $5,000 in June 1956; and Woodrow and Juanita Roachell, an undisclosed sum in June 1953.

Warehouse Purchase

A 26,428-SF warehouse project in east Little Rock sold for $250,000.

CES Development LLC, led by George Mathews Jr., acquired the 1701 E. 22nd St. project. The seller is Windy Point LLC, led by Mark Babbitt.

The deal is funded with a five-year loan of $208,250 from Metropolitan National Bank of Little Rock.

The Babbitt family purchased the property for $176,400 in November 1978 from Mary Oliver.

Hickory Hills Home

A 5,990-SF home in west Little Rock’s Hickory Hills neighborhood tipped the scales at $1.1 million.

John Motes and Julie Silver bought the house from Robert and Rebecca Howeth.

The deal is financed with a 15-year loan of $800,000 from Bank of Little Rock Mortgage Corp.

The residence previously was linked with an October 2006 mortgage of $800,000 held by CitiBank of Sioux Falls, S.D.

The property was acquired for $1 million in May 2004 from Josue and Paula Montanez.

Cliffewood Residence

A 3,737-SF home in Little Rock’s Cliffewood neighborhood drew a $600,000 sale.

Lee and Molly Owens purchased the house from Crestwood Investment LLC, led by Robert Hardin.

The residence previously was tied to a January 2009 mortgage of $1.1 million held by One Bank & Trust of Little Rock.

Crestwood Investment bought the property in March 2007 as of a $1.17 million deal with Mariann Harrington and Joe Prause.

Hilton Mortgage

Construction of a 134-room Hilton Garden Inn is in motion with a $10.75 million funding agreement.

Yogiji Inc., led by Rajen Vyas, obtained the two-year loan from Centennial Bank of Conway.

The 3.48-acre site at 10914 Kanis Road previously was linked with two January 2010 mortgages of $580,000 held by First Bank of South Arkansas in Camden.

Yogiji acquired the property for $1.35 million in December 2008 from the Donna Lou Gordon Living Revocable Trust, Phillip Plunkett, O.L. Plunkett Jr. and his wife, Margaret, R.L. and Janet Plunkett, Jenna and Larry Hacker, and Larry Plunkett.

 

 

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