Super 8 Transformation Follows $2.6M Purchase (Real Deals)

by George Waldon  on Monday, Nov. 4, 2013 12:00 am  

Rebranding to a Super 8 accompanied the sale of the former La Quinta Inn at 11701 Interstate 30 in Little Rock.  (Photo by Jason Burt)

United Cerebral Palsy of Central Arkansas Inc., led by Larry Stang, purchased the 8121 Distribution Drive project. The seller is 8121 Distribution LLC, led by Justin Muller.

The deal is funded with a $680,000 loan from Centennial Bank of Conway. The 10-acre development previously was tied to a December 2011 mortgage of $675,000 held by First Security Bank of Searcy.

The property was acquired for $500,000 nearly two years ago from Arkansas Food Bank Network Inc., led by Phyllis Haynes.

Warehouse Sale II

A 60,000-SF warehouse in southwest Little Rock changed hands in a $390,000 sale.

Russell Allison bought the 5207 Scott Hamilton Drive project from Kurios Investor Holdings LLC, led by Dru Phillips and Roger Tucker.

The deal is backed with a three-year loan of $524,518 held by Farmers & Merchants Bank of Stuttgart.

The 4.2-acre development previously was linked with a November 2012 mortgage of $270,000 held by Capital Properties LLC of Little Rock.

Kurios purchased the property for $300,000 a year ago from Capital Properties, led by Gus Blass III.

Conceptual Transaction

A 3,000-SF day care in North Little Rock drew a $185,000 transaction.

Food Marketing Concepts Inc., led by Arlis Harvey, acquired the Lakewood Child Care project at 2500 Lakeview Road from John and Angelica Rogers.

 

 

Please read our comments policy before commenting.
Search

Latest Arkansas Business Poll

Did the Fed make the right call on interest rates?