Eight Wendy's Locations Sales Surpass $9.5 Million Mark (Real Deals)

by George Waldon  on Monday, Oct. 7, 2013 12:00 am  

Construction of a new Little Rock police department substation on 12th Street is underway. (Photo by RPPY Architects Artist Rendering)

Eight Wendy’s in Pulaski County changed hands in a string of transactions topping $9.5 million.

ARC CafeHLD001 LLC of Jenkintown, Pa., purchased the eateries from CNL APFD Partners Ltd. of Orlando, Fla. The list includes:

  • The 0.32-acre project at 4920 W. Markham St. in Little Rock, $1.61 million.
  • The 0.64-acre project at 903 Broadway in Little Rock, $1.56 million.
  • The 0.69-acre project at 3923 S. University Ave. in Little Rock, $1.19 million.
  • The 0.3-acre project at 11319 Rodney Parham Road in Little Rock, $1.15 million.
  • The 1.2-acre project at 10623 W. Markham St. in Little Rock, $1.06 million.
  • The 1.02-acre project at 8703 Geyer Springs Road in Little Rock, $1.02 million.
  • The 0.92-acre project at 604 E. Broadway in North Little Rock, $1.01 million.
  • The 0.79-acre project at 4600 Camp Robinson Road in North Little Rock, $971,000.

CNL APFD Partners acquired the properties in December 2005 from Wendy’s Old Fashioned Hamburgers of New York Inc.

Those series of deals totaled more than $8.2 million.

Million-Dollar Construction

  • 12th Street Station    $11,900,612
    Police Substation
    3917 W. 12th St., Little Rock
    East Harding Inc., Little Rock
  • Wastewater Improvements    $4,922,000
    Shillcutt Bayou Pumping Station
    3503 Bay Oaks Drive, North Little Rock
    Max Foote Construction Co. Inc., Mandeville, La.
  • New Hotel    $3,400,000
    La Quinta Inn
    9 Crossings Court, Little Rock
    Hanuman Hospitality LLC, Monticello

Otter Creek Deal

Neighboring industrial properties in the Otter Creek area of west Little Rock are under new ownership after deals totaling $1 million.

Locust Bayou LLC, led by Steve Woodson and Jonathan Fallon, acquired the 4,900-SF Massey Construction facility at 11310 Otter Creek East Blvd. for $797,000.

The sellers were Jeff and Danica Massey.

An adjoining 1.5-acre parcel was bought for $270,000 from Otter Creek Fund No. 1 LLC, led by David Lewis and Jeff Massey.

The two transactions are backed with a $960,590 loan from Delta Trust & Bank of Little Rock.

The properties previously were linked with a November 2005 mortgage of $400,000 and a May 2005 mortgage of $153,376 held by Regions Bank of Birmingham, Ala.

The 1.4-acre property at 11310 Otter Creek East Blvd. was purchased for $140,000 in May 2005. The seller in that deal was Arkansas Ceramic Products LLC, led by Carl Moody.

The other land was acquired for $153,376 in May 2005.

Seller: Otter Creek Development Co. LLC, led by Robert McGinnis and Byron Eiseman Jr.

Valero Purchase

A west Little Rock convenience store rang up an $825,000 sale.

Sultana’s Property LLC, led by Ahmed and Kammar Pabani, purchased the Valero project at 13901 Chenal Parkway. The seller is HyPark Inc., led by Floyd Parker.

The deal is financed with a five-year loan of $701,250 from Summit Bank of Arkadelphia.

The 0.76-acre property was bought from the Ray & Chris Jones Revocable Trust.

That July 1998 transaction closed at $340,000.

Maumelle Buy

A 6,623-SF office building in Maumelle drew a $575,000 transaction.

103 Park LLC, led by Jeffery Rippy, Kyle Skinner and Mary Nash, acquired the 103 Park Drive project.

The sellers are Larry Groves and Patricia and Kenneth Ferguson.

The deal is funded with a five-year loan of $580,000 from First Security Bank of Searcy.

The 1-acre site was purchased for $100,000 in August 1999 from Century 21 Metro Inc., led by Mary Peyton.

PV Residence

A 5,345-SF home in west Little Rock’s Pleasant Valley neighborhood sold for $875,000.

Avery Martin bought the house from Theodore Skokos Jr. and his wife, Ainsley.

The deal is backed with a 30-year loan of $417,000 from Merchants & Planters Bank of Collierville, Tenn. The property additionally is secured by a three-year loan of $283,000 from Bank of Augusta (Woodruff County).

The residence previously was tied to an August 2006 mortgage of $950,000 originated by UBS Mortgage LLC of Baltimore.

The Skokos family acquired the property for $1.05 million seven years ago from Charles and Anita Fiser.

Deauville Abode

A 7,262-SF manor in the Deauville neighborhood of west Little Rock’s Chenal Valley development changed hands at an $850,000 foreclosure sale.

Allied Bank of Mulberry recovered the house from A.J. and Gwen Gilbert.

The residence previously was linked with three delinquent mortgages of $739,571, $127,240 and $28,139 held by the bank.

The Gilberts bought the location for $117,000 in July 2006 from Deltic Timber Corp. of El Dorado.

Hickory Creek Home

A 5,176-SF house in west Little Rock’s Hickory Creek neighborhood is under new ownership after a $740,000 deal.

Edward Love acquired the house from Larry and Stacy Froberg. The deal is financed with a 30-year loan of $417,000 from Regions Bank.

The residence previously was tied to a December 2011 mortgage of $417,000 held by Bank of Little Rock Mortgage Corp. and a January 2009 mortgage of $200,000 held by Bank of America in Charlotte, N.C.

The Frobergs purchased the property for $552,000 in February 2003 from Prudential Residential Services Ltd. of New York.

Courts House

A 4,518-SF home in The Courts neighborhood of west Little Rock’s Chenal Valley development rang up a $515,000 sale.

Thomas and Cheryl Rowen bought the house from Bruce and Laura Henry. The deal is funded with a 15-year loan of $150,000 from Wells Fargo Bank of Sioux Falls, S.D.

The residence previously was linked with a December 2005 mortgage of $240,000 from Regions Bank and a January 2013 mortgage of $250,000 from U.S. Bank of Cincinnati.

The Henrys acquired the site for $68,000 in October 2005 from Deltic Timber Corp.

Osage Falls Sale

A 4,349-SF home Maumelle’s Osage Falls neighborhood drew a $500,000 transaction.

Wade Anderson purchased the house from Vance Strange III. The deal is backed with a 30-year loan of $417,000 from Bank of America.

The residence previously was tied to an October 2010 mortgage of $366,932 and an October 2012 mortgage of $50,000 held by Centennial Bank of Conway.

The property was bought for $595,000 in April 2008 from Ken and Karen Hamilton.

Retirement Refinance

The owner of an 80-bed retirement center in west Little Rock picked up a $6.6 million financial package.

Emerichenal LLC, an affiliate of Emeritus Corp. of Seattle, received the seven-year loan from KeyBank Real Estate Capital Markets Inc. of Overland Park, Kan.

The 5.5-acre Chenal Heights Retirement & Assisted Living development at 1 Chenal Heights Drive previously was financed with a November 2010 mortgage of $28 million.

The lender in that deal was KeyBank of Seattle.

Emerichenal acquired the project for $11.2 million nearly three years ago from Chenal Heights Retirement LLC of Van Buren, led by James Hightower and Floyd Sagely Sr.

Lofts Mortgage

Development of apartments in downtown Little Rock is financed with a $3.18 million construction mortgage.

Main Street Lofts South LLC, led by Wooten Epes, obtained the 16-month loan from Riverside Bank of Sparkman (Dallas County).

The 514-524 Main St. buildings and the 0.48-acre site were purchased in July 2012 as part of a $1.5 million deal with Lafayette Plaza LLC, led by Stephen Marks Sr.

 

 

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