Sonic Combo Purchase Totals Nearly $6M (Real Deals)

by George Waldon  on Monday, Apr. 29, 2013 12:00 am  

The Sonic at 2917 Cantrell Road in Little Rock was the highlight of a series of drive-in deals that added up to more than $5.9 million. (Photo by Jason Burt)

The 6.43-acre Good Shepherd site at 3001 Aldersgate Road was bought for $221,000 in February 1997 from Ecumenical Retirement Center Founda-tion Inc., led by Andrew Hudson.

Grocery Funding

The owner of three Food Giant grocery store projects in Little Rock landed a $5.8 million financial package.

EdProp Development Co. LLC, led by Stephen Edwards, obtained the five-year loan from BancorpSouth Bank of Tupelo, Miss.

The 2.11-acre development at 9203 Chicot Road was purchased for $785,000 in December from James Family Properties LLLP, led by Judith Scherer.

The 2.64-acre development at 10320 Stagecoach Road was acquired for $1.25 million, and the 2.63-acre development at 1703 Main St. was acquired for $1.75 million in July 2009.

Both properties were sold by BancorpSouth in July 2009.

Pharmasite Mortgage

A Little Rock enterprise picked up a $2.2 million funding agreement.

Pharmasite LLC, led by James McCarley Jr. and Lynn McCarley, received the five-year loan from Regions Bank.

The 1.02-acre Cantrell Drug Co. development previously was tied to three mortgages held by the bank: two July 2009 loans totaling $2.25 million and an April 2012 loan of $300,000.

Pharmasite bought the former luxury car dealership for $1.5 million in July 2009 from Larock Properties LLC, led by Lee Owens.



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