GMAC Building Rings Up $7.1M Transaction (Real Deals)

by George Waldon  on Monday, Jul. 22, 2013 12:00 am  

The GMAC Building at 16101 La Grande Drive in west Little Rock. (Photo by Mauren Kennedy)

A 50,900-SF office building in west Little Rock tipped the scales at $7.1 million.

16101 Properties LLC, led by Terry Fleming, bought the GMAC Building at 16101 La Grande Drive. The seller is Crain Investments Ltd., led by Larry Crain Sr.

The deal is financed with a five-year loan of $5.68 million from Bank of America in Charlotte, N.C.

The 9.4-acre development was purchased for $5.1 million in October 2000 from Deltic Timber Corp. of El Dorado.

Conestoga Buy

Two industrial properties in Jack-sonville changed hands in a $1.4 million transaction.

Resicomm Properties LLC, led by Bryan and Sonja Glaze, purchased the 20,000-SF building at 2601 Gen. Samuels Road and the 12,000-SF building at 2201 N. Redmond Road in Jacksonville. The seller is Conestoga Wood Specialties Corp., led by Anthony Hahn.

The deal is funded with a $1.19 million loan from Centennial Bank of Conway.

The 1.5-acre Gen. Samuels Road property was acquired for $289,000 in August 2003 from Whited Holdings & Investments LLC, led by Larry Whited. The 1.1-acre Redmond Road location was bought for $150,000 in August 2008 from Sherrod and Carolyn Hines.

Sustainable Purchase

A 5,456-SF office building in west Little Rock sold for $414,000.

Sustainable Properties LLC, led by Matt Bell, acquired the 125 Gamble Road project from the Dorothea Davis Living Revocable Trust.

 

 

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