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.

NMR Holdings LLC, led by Carol Worley, Jarrod Parrish and Melissa Wood, bought the Jung-Kordsmeier Building at 1318 Main St. The seller is Soma Properties LLC, led by Cassandra Toro.

The deal is funded with a five-year loan of $539,750 from Metropolitan National Bank of Little Rock.

The 0.11-acre development was acquired in August 2012 as part of a $375,000 deal with L.D. and Freda Lendermon.

Deauville Abode

A 5,382-SF home in the Deauville Place neighborhood of west Little Rock’s Chenal Valley development rang up a $700,000 transaction.

Michael and Maura Beranek purchased the house from Rayburn and Angela Rego. The deal is financed with a 30-year loan of $560,000 from Guaranteed Rate Inc. of Chicago.

The residence previously was tied to a June 2007 mortgage of $624,000 held by Wells Fargo Bank of Des Moines, Iowa.

The property was bought for $780,000 in June 2007 from Carl Gray Henson Inc.

Belle River Home

A 3,663-SF home in Maumelle’s Belle River neighborhood sold for $625,000. Katherine Crowley and Shane Parker acquired the house from George Collins Jr. and his wife, M’Liss.

The deal is backed with a 30-year loan of $417,000 from First Security Bank of Searcy. The residence previously was linked with a December 2009 mortgage of $180,000 held by IberiaBank of Little Rock.

The location was purchased for $100,000 in November 2000 from Glenn and Karon Martin.

Colonial Court Sale

A 3,529-SF home in Little Rock’s Colonial Court neighborhood drew a $532,000 transaction.

Jonathan and Amanda Novack bought the house from the Anne Maxey Revocable Trust.

The deal is funded with a one-year loan of $417,000 from Riverside Bank of Sparkman (Dallas County). The residence previously was tied to an October 2012 mortgage of $329,250 originated by Bank of Little Rock Mortgage Corp.

The property was acquired for $465,000 in November 2004 from David and Debbie Becton.

Witry Residence

A 4,249-SF home in the Witry Court neighborhood of west Little Rock’s Chenal Valley development is under new ownership after a $528,540 foreclosure sale.

Federal Home Loan Mortgage Corp. of New York recovered the property from Samuel and Lori Houston.

The residence previously was linked with a March 2008 mortgage of $417,000 and a May 2008 mortgage of $210,099 originated by Pulaski Bank & Trust of Little Rock.

The site was purchased for $79,000 in December 2000 from Deltic Timber Corp. of El Dorado.

Country Club House

A 2,500-SF home near the Country Club of Little Rock changed hands in a $500,000 deal.

Robert and Gaye Lanford acquired the house from Catherine Hamilton Mayton and her husband, Michael, and Susan Hamilton Johnson and her husband, Ector.

The Maxine B. Hamilton Trust bought the property for $480,000 in January 2002 from the Marcelline E. Giroir Revocable Trust.

Storage Funding

An 87,500-SF cold storage facility in North Little Rock was used to help secure a $30 million funding agreement.

North Little Rock 1400 LLC of Downey, Calif., obtained the three-year loan from Bank of America in Charlotte, N.C.

The limited liability company purchased the 1400 Gregory St. project for $1.56 million in December 2012 from Frostyaire of Arkansas Inc., led by James Thomas Jr.

USO Refinance

The owner of a 35,100-SF medical office building in west Little Rock picked up a $4.8 million financial package.

Williams USO Building LLC, led by Dr. Alonzo Williams, received the five-year loan from Arvest Bank of Fayetteville.

The U.S. Orthopedic Building at 8907 Kanis Road previously was tied to an April 2008 mortgage of $5.7 million held by Pulaski Bank & Trust.

The nearly 2-acre property was as-sembled in three buys totaling more than $280,000. The sellers were Arkansas Systems Inc., led by James Hendren, $167,300 in January 1996, and Baptist Health, $45,750 in July 1996 and $67,000 in August 2005.

Multifamily Mortgage

A 151-unit apartment complex in south Little Rock is backed with a $4.3 million mortgage.

Big Country Chateau LLC, led by Carl Schultz and Cynthia Knoerr, got the 25-year loan from Wells Fargo Bank of Sioux Falls, S.D.

The 5.78-acre Chateau Deville development at 6200 Col. Glenn Road previously was linked with a November 2011 mortgage of $2.4 million and a July 2012 mortgage of $250,000 held by First Security Bank.

The project was bought for $1.5 million in December 2009 from RPM Realty Fund, led by Pete Hornibrook.

Million-Dollar Construction

Amboy Elementary School    $12,500,000
101 Auburn Drive, North Little Rock
Baldwin & Shell Construction Co., Little Rock

Fountaine Bleau North Apartments    $6,500,000
4429 E. 46th St., North Little Rock
Burkhalter Technologies Inc., North Little Rock

Community Union Building    $2,347,700
Arkansas Baptist College
1523 Martin Luther King Jr. Drive, Little Rock
Kinco Constructors LLC, Little Rock

 

 

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