Fuel Facility Draws $18.9 Million Sale (Real Deals)

by George Waldon  on Monday, Jun. 3, 2013 12:00 am  

A fuel storage facility in North Little Rock changed hands in an $18.9 million transaction.

JP Energy ATT LLC of Irving, Texas, bought the 28.4-acre development at 2207 Central Airport Road from Arkansas Terminaling & Trading Inc., led by Greg Arnold.

The project is used to help secure a two-year loan of $200 million from Wells Fargo Bank of Sioux Falls, S.D.

The property was assembled largely through two deals totaling $615,000. The sellers were Mobil Oil Corp. of New York, $65,000 in March 1979; and Thomas Family Revocable Trust, led by Dayton and Edna Thomas, $550,000 in June 2003.

Foreclosure Purchase

A 7,200-SF warehouse in North Little Rock is under new ownership after a $327,500 foreclosure sale. RHV LLC, led by Ken Calhoon, purchased the 14514 MacArthur Drive project.

The 4-acre development was tied to a February 2006 mortgage of $668,800 held by Arvest Bank of Fayetteville.

That debt was owed by A-1 Recovery Inc., led by Terry and Lorene Wyatt. A-1 bought the location for $45,000 in April 2001 from Lorraine Gammel.

Multifamily Land

Apartment land in Little Rock rang up a $265,000 transaction.

Richardson Investment Irrevocable Trust, led by Keith Richardson, acquired the 7.95-acre parcel on the east side of Caulden Drive.

The sellers are Harley Cox Jr. and his wife, Joanne.



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