Cantrell Valley Plaza Sells for $1 Million (Real Deals)

by George Waldon  on Monday, Aug. 26, 2013 12:00 am  

Cantrell Valley Plaza. (Photo by Jason Burt)

A 13,150-SF office building in the Riverdale area of Little Rock changed hands in a $1 million sale.

Triangle Insurance Co. of Enid, Okla., bought Cantrell Valley Plaza at 2725 Cantrell Road from Pinnacle Hotel Group Inc., led by Chetan Patel.

The 1.73-acre development was tied to a September 2009 mortgage of $772,500 held by Ozark National Life Insurance Co. of Little Rock.

Pinnacle Hotel acquired the project for $850,000 nearly four years ago from Ozark National.

Allied Redevelopment

A 19,250-SF commercial facility in Little Rock is undergoing redevelopment after a $640,000 transaction. Allied Properties LLC, led by William Rogers, purchased the 724 Jones St. project from Arkansas Capital Corp. of Little Rock.

The deal is financed with a one-year loan of $1.4 million from BancorpSouth Bank of Tupelo, Miss.

The 0.96-acre former BMW Motorcycle development previously was linked with a July 2009 mortgage of $1.85 million held by ACC. The property was turned over to ACC in August 2010 by Jas & Sons Inc., led by James Willbanks.

The location was bought for $125,000 in March 2002 from Argee Properties Partnership I, led by Roger and John Glasgow.

Mini Acquisition

A 2.02-acre development in west Little Rock rang up a $399,000 deal. B&H Partners LLC, led by Christopher Black and Russell Hall, acquired Lawson Road Mini Storage at 15700 Lawson Road from Little Rock’s Metropolitan National Bank.

The deal is backed with a five-year loan of $345,108 from First Security Bank of Searcy.



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