Cold Storage Sale Tops $1.5 Million (Real Deals)

by George Waldon  on Monday, Apr. 8, 2013 12:00 am  

1400 Gregory St. project in North Little Rock.

An 87,500-SF cold storage facility in North Little Rock tipped the scales at $1.56 million.

North Little Rock 1400 LLC of Downey, Calif., bought the 1400 Gregory St. project from Frostyaire of Arkansas Inc., led by James Thomas Jr.

The 15.3-acre development previously helped secure July 2008 mortgages of $7.25 million and $500,000 held by First Community Bank of Batesville.

The property was acquired as part of a $7.16 million deal with Gregory Street Properties Inc., an affiliate of Park National Bank of Oak Park, Ill.

Dollar Deal

A Dollar General Store in North Little Rock rang up a $1.43 million sale.

ATIQ VIII LLC, led by Omar Atiq, purchased the 4523 Camp Robinson Road project. The seller is PB General Holdings Camp Robinson LLC, led by Scott Proctor.

The deal is financed with a $1.14 million loan from First Federal Bank of Harrison. The 0.77-acre development previously was tied to a July 2012 mortgage of $1.04 million from Summit Bank of Arkadelphia.

The location was bought for $424,000 eight months ago from Twilight Enterprise Ltd. of Salt Lake City.

Multifamily Sale

A 24-unit apartment project in downtown Little Rock is under new ownership after a $700,000 transaction.

NuAge Property Developers LLC, led by James McDaniel and Barry Jackson, acquired Louisiana Terrace Apartments at 1717 Louisiana St.



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