Allstate Building Sells in $2.1M Transaction (Real Deals)

by George Waldon  on Monday, Sep. 9, 2013 12:00 am  

St. Francis Packaging at 9121 Sibley Hole Road in Little Rock. (Photo by Jason Burt)

A 24,567-SF office building in west Little Rock tipped the scales at $2.1 million.

203 Executive Court LLC, led by Neil Pennington, bought the 201 Executive Court project.

The seller is Allstate Building Partnership, composed of Terry Moore & Associates and the Lawrence H. Schmieding Revocable Trust.

The deal is backed with a 10-year loan of $2.8 million from IberiaBank of Lafayette, La.

The 2.08-acre site was purchased in February 1981 as a part of a $95,000 transaction with Mark and Inza Weedman.

Package Deal

A 23,975-SF industrial facility in southwest Little Rock changed hands in a $1 million sale.

Fortege LLC, led by Ricardo Estrada, acquired the St. Francis Packaging facility at 9121 Sibley Hole Road. The seller is St. Francis Packaging LLC, led by Patrick Beck.

The transaction is financed with a 15-year loan of $1.4 million from Whitney Bank of New Orleans.

The 11.3-acre development previously helped secure three March 2008 mortgages totaling $3.5 million held by Pulaski Bank & Trust of Little Rock.

St. Francis Packaging bought the property for $1.9 million more than five years ago from Greg and Susan Acord.

TRL Acquisition



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