Superior Purchase Totals $4.5 Million (Real Deals)

by George Waldon  on Monday, Nov. 18, 2013 12:00 am  

Superior Trailer Sales has set up shop in the former digs of an RV superstore at 10600 Maybelline Road in North Little Rock.  (Photo by Jason Burt)

A former RV sales property near Interstate 40 in North Little Rock tipped the scales at $4.5 million.

Frank Deel III, chairman of Superior Trailer Sales Co. of Sunnyvale, Texas, acquired the 25.7-acre location at 10600 Maybelline Road. The seller is I-40 RV Land LLC, led by Paul Minton.

The deal is backed with a 10-year loan of $3.5 million from Bank of Oklahoma in Tulsa. The development previously was tied to a July 2013 mortgage of $2.79 million held by Bank of England.

I-40 RV Land bought the property for $2.15 million in March 2008 from Keathley-Richards Inc., led by LuLynn Keathley-Richards.

Marine Purchase

An 88,880-SF distribution facility in south Little Rock is under new ownership after a $1.7 million sale.

D.I.G.-Little Rock LLC, led by John Benton Smallpage III, purchased the project at 3201 W. 65th St. The seller is Southern Marine LLC, led by Ricky Willis.

D.I.G., an affiliate of Donovan Marine Inc. of Harahan, La., financed the deal with a 15-year loan of $1.32 million from Malvern National Bank.

The 5.05-acre development previously was linked with a February 2011 mortgage of $4 million held by the bank.

Southern Marine acquired the location for $395,000 in June 1999 from Elizabeth Brandon.

Advanced Transactions

A 14,200-SF office-warehouse project in North Little Rock changed hands in a $950,000 transaction.

 

 

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