Agri Property Harvests $3 Million Transaction (Real Deals)

by George Waldon  on Monday, Sep. 16, 2013 12:00 am  

The 7.2-acre Tanglewood Center development at 7509 Cantrell Road previously was linked with an October 2010 mortgage of $3.7 million held by First Security Bank of Searcy.

Tanglewood Enterprises acquired the project from John and Mary May in September 1972 for $1.5 million.

Shoppes Construction

Construction of a 17,889-SF retail project is backed with a $3.5 million financial package. Shoppes At Colonel Glenn LLC, led by Leonard Boen, obtained the four-year loan from Centennial Bank. The 3.2-acre site is west of the Holiday Inn Express at 4900 Tally Road.

The property previously was used to help secure a January 2009 mortgage of $5 million held by Twin City Bank of North Little Rock.

The land was bought in June 2001 as part of a 60-acre deal totaling $2.9 million. The sellers were Sally Ferguson, Pamela Ferguson McPherson and Wendy Ferguson Wheelis. n

 

 

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