Industrial Deal Tops $1.8 Million (Real Deals)

by George Waldon  on Monday, Apr. 1, 2013 12:00 am  

A 104,000-SF industrial facility in southwest Little Rock tipped the scales at $1.85 million.

Essick Air Products Inc. of Little Rock bought the 2901 W. 60th St. project from Capital Properties LLC, led by Gus Blass III.

The 8.42-acre development was purchased for $1.1 million in April 1978 from Distribution Centers Inc., led by Henry Nichols.

Office Transaction

A 50 percent stake in a 31,350-SF office building in Little Rock’s Riverdale area shifted ownership in a deal valued at $1.5 million.

Cherry Ridge LLC of El Dorado ac-quired sole ownership of the 2120 Riverfront Drive project. The seller is Noalmark Broadcasting Corp., led by Edward Alderson Jr.

The office project was bought for $2.65 million in August 2000 from Rebsamen Insurance Inc. of Little Rock.

Sherwood Purchase

A 2.19-acre commercial development in Sherwood rang up an $875,000 transaction.

CES Warden Road LLC, led by Chris Matthews, purchased the 8100 Warden Road project, home to Maple Leaf Canvas and Tailgaters/Allstar Sports Bar.

The seller is Mid-South Properties LLC, led by Minor Booth.

The deal is financed with a five-year loan of $743,750 from Metropolitan National Bank of Little Rock.

The property previously was tied to
an August 2005 mortgage of $1 million held by Bank of Little Rock.

The project was acquired for $1 million more than seven years ago from SMW LLC, led by Byron McKimmey and Robert Wilson.

Restaurant Sale

A closed fast-food eatery in downtown Little Rock drew a $380,000 sale.

Walid Ismael and Hosam Esmail bought the Backyard Burgers property at 508 W. Ninth St. from Rommie Marilyn Foster and Frances Foster.

The 0.32-acre location was purchased for $135,000 in April 1982 from Samuel Gray.

Overlook Abode

A 4,278-SF home in Little Rock’s Overlook Park neighborhood changed hands in an $850,000 deal.

James and Mary Meek acquired the house from Ginanne Long.

Long bought the residence for $375,000 in July 1988 from Richard and Jane Westerman.

Rural Residence

A 3,214-SF home in west Pulaski County’s Cameronwood neighborhood sold for $539,000. Robert and Sherard Lewis purchased the house from Rod and Pamela Cameron.

The deal is backed with a 15-year loan of $300,000 from Bank of Little Rock Mortgage Corp. The residence previously was linked with a July 2004 mortgage of $245,000 held by Pulaski Bank & Trust of Little Rock and a June 2008 mortgage of $75,000 held by Pulaski Mortgage Co. of Little Rock.

The location was acquired for $50,000 in January 1994 from Samuel and Shirley Wofford.

Block 2 Mortgage

The owner of the Block 2 redevelopment in downtown Little Rock landed a $9 million funding agreement.

MIMG XXIX Block 2 LLC, an affiliate of Monarch Investment & Management Group of Franktown, Colo., obtained the loan from Beech Street Capital LLC of Bethesda, Md.

The 1.05-acre development previously was tied to an October 2011 mortgage of $6.75 million held by KeyBank of Denver.

The project includes the 82,000-SF Democrat Printing & Lithograph Building at 122 E. Second St., home of Arkansas Business Publishing Group and 32 apartments; the 85,000-SF Archer Drug Building at 107 E. Markham St., 69 apartments; and the 69,000-SF Wallace Building at 101 Main St., 44 apartments.

The property was bought for $9 million 18 months ago from LSF5 Block Two LLC.

LSF5 is an affiliate of Lone Star U.S. Acquisition LLC of Dallas. 

 

 

Please read our comments policy before commenting.