Mohr's Maumelle Buy Closes at $5.4 Million (Real Deals)

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

Scholastic Distribution at 1 Champs Blvd. in Maumelle.  (Photo by Mauren Kennedy)

The former Champs Sporting Goods facility in Maumelle tipped the scales at $5.4 million.

Mohr Maumelle LLC, an affiliate of Mohr Partners of Dallas, purchased the 484,932-SF facility at 1 Champs Blvd. The seller is Scholastic Distribution Services LLC, a subsidiary of Scholastic Corp. of New York.

The acquisition-redevelopment is financed with a 25-year loan of $9 million from Protective Life Insurance Co. of Birmingham, Ala.

Scholastic bought the 30.3-acre development in June 2002 as part of a $14.1 million deal with Warmack-Warehouse Ltd. of Texarkana, Texas. Scholastic still owns an adjoining 42.9 acres.

Bishop Place Deal

A 44-lot residential project is in motion after an $800,000 land deal in west Little Rock.

Eight Acre LLC, led by Howard and Boyce Holmes, acquired the 8.69-acre site at 19001 Cantrell Road from Bible Church of Little Rock.

The Bishop Place project is backed with a two-year loan of $1.5 million from BancorpSouth Bank of Tupelo, Miss.

The property previously helped secure an August 2002 mortgage of $1.35 million held by Simmons First National Bank of Pine Bluff.

The land is part of a 25-acre tract the church purchased for $575,000 in September 1990 from Nellie Johnson.

Downtown Buy

A 7,400-SF office building in downtown Little Rock changed hands in a $350,000 sale.

 

 

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