Zaxby's Combo Deal Rings Up $2.4 Million (Real Deals)

by George Waldon  on Monday, May. 20, 2013 12:00 am  

The Zaxby’s at 208 Brookswood Road in Sherwood  sold for $1.3 million, part of tandem transactions that included a Jacksonville restaurant. (Photo by Jason Burt)

The 1.01-acre development previously was tied to a June 2008 mortgage of $800,000 held by North Little Rock’s National Bank of Arkansas.

The project was bought for $960,000 in July 2005 from Investors Inc., led by Kevin Horton.

Ranch Projects

Two undeveloped parcels in The Ranch development in west Little Rock are under new ownership.

HSRE Clarity Pointe at Little Rock LLC of Des Moines, Iowa, purchased a 4.06-acre site near the northeast corner of Ranch Boulevard and Ranch Drive for $920,000.

Fourjay LLC of Memphis acquired a 1.19-acre parcel for a Wendy’s near the northeast corner of Cantrell Road and Ranch Boulevard for $831,000.

The seller in both deals was Ranch Properties Inc., led by Ed Willis.

Construction of HSRE’s 59-bed Alzheimer facility is financed with a four-year loan of $7.18 million from Compass Bank of Birmingham, Ala.

The land was bought in the name of Ranch Properties in November 1989 as part of a $2.66 million transaction with a related entity, Johnson Ranch Partnership, also led by Willis.

The partnership purchased the land in August 1984 as part of a $2.15 million deal with Johnson Land Co., led by Glenn H. Johnson.

Markham Park Buy

A KFC project in west Little Rock rang up a $650,000 transaction.

 

 

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