McCain Place Building Draws $2 Million Sale (Real Deals)

by George Waldon  on Monday, Nov. 25, 2013 12:00 am  

The McCain Place Building at 2504 McCain Blvd. in North Little Rock was added to First Security Bank’s real estate portfolio in a $2 million transaction. (Photo by Jason Burt)

A 30,400-SF office building in North Little Rock tipped the scales at $2 million.

First Security Bank of Searcy purchased the McCain Place Building at 2504 McCain Blvd. from Woodcrest Co. LLP, led by James Matthews.

The 1.65-acre development previously was tied to an August 2006 mortgage of $1.2 million held by Thrivent Financial for Lutherans of Minneapolis, an April 2013 mortgage of $450,000 held by Centennial Bank of Conway and a May 2013 mortgage of $207,705 held by Bear Claw Construction Management LLC of Kansas City, Mo.

The Matthews family acquired the land in January 1925 as part of a $16,000 transaction with Martha Pratt.

Dollar General Buy

A Dollar General store in Sherwood is under new ownership after a $1.24 million sale.

Realty Income Properties 25 LLC of Escondido, Calif., bought the 17805 Batesville Pike project from PB General Holdings (Sherwood) LLC, led by Leonard Boen.

The 1.5-acre development previously was linked with a September 2012 mortgage of $880,000 held by Summit Bank of Arkadelphia.

PB General Holdings purchased the location for $239,000 14 months ago from Billy and Linda Morden.

Family Dollar Deal

A Family Dollar store in downtown North Little Rock is under construction following a $402,000 transaction between related Charlotte, N.C., entities.

WF-FD Master Lease II LLC acquired the 715 E. Broadway location from Family Dollar Stores of Arkansas Inc.

The corporation purchased the 1-acre property for $350,000 seven months ago from Robert L. Davis Investment Co. I.

The property was bought for $400,000 in June 1988 from The Krystal Co., led by R.G. Sherrill.

Dental Transaction

A dental office in Little Rock’s Hillcrest neighborhood drew a $300,000 sale.

KMG Dental Management LLC, led by Patrick Kircher, purchased the 5307 Kavanaugh Blvd. project from the Gilbert G. Caver Revocable Trust.

The deal is funded with a seven-year loan of $255,000 from Metropolitan National Bank of Little Rock.

Caver acquired the 0.12-acre development for $60,000 in December 1974 from Richard and Gean Simmons.

Office Acquisition

An 8,714-SF office building in downtown Little Rock changed hands in a $213,000 deal.

201 S. Izard LLC, led by John Chandler, bought its namesake property from the Greg L. Hatcher Revocable Living Trust.

The deal is backed with a five-year loan of $624,750 from IberiaBank of Lafayette, La.

The 0.38-acre development previously helped secure an October 2012 mortgage of $450,000 held by Centennial Bank.

The trust purchased the property 13 months ago as part of a $450,000 deal with First State Bank of Russellville.

Riverview Condo

A 3,235-SF condo in downtown Little Rock rang up a $1.43 million transaction.

The Mounds II, led by Chris Robertson Sr., acquired the 10th-floor unit at The Residences at Building 5.

The seller is Arkansas Riverview Development LLC, led by Brad Canada.

The limited liability company provided a five-year loan of $1.14 million to finance the sale.

Arkansas Riverview Development bought the property for $950,000 in April 2004 and added five stories to it. The seller was the Arkansas Bar Foundation.

Estates Sale

An 8,040-SF home in west Little Rock’s Bella Rosa Estates neighborhood sold for $1.25 million.

Patrick and Dina Ifrah purchased the house from the namesake revocable trusts of Richard and Brandy Harp.

The deal is funded with a 30-year loan of $972,000 from Suntrust Mortgage Inc. of Richmond, Va.

The residence previously was tied to a December 2007 mortgage of $1.3 million held by One Bank & Trust of Little Rock.

The location was acquired for $775,000 in July 2004 as part of a 9.3-acre deal with Margie Woodall.

Country Club House I

A 2,396-SF home near the Country Club of Little Rock changed hands in a $773,000 deal.

Palm Lake LLC, led by Lambert Marshall III, bought the house from the Judy B. Burrow Revocable Trust.

The deal is backed with a five-year loan of $772,500 from Malvern National Bank.

The Burrow family purchased the property for $48,000 in October 1959 from Mary Frances Roddy.

Country Club House II

A 3,214-SF home near the Country Club of Little Rock is under new ownership after a $635,000 sale.

The namesake trusts of James Darr Jr. and his wife, Marcia, acquired the house from the Elizabeth R. Brandon Revocable Trust.

Brandon bought the property for $260,000 in August 1994 from John and Judy Tedford.

PV Residence

A 4,048-SF home in west Little Rock’s Pleasant Valley neighborhood drew a $500,000 transaction. John and Tobi Fairley purchased the house from the Kenneth M. Taylor Irrevocable Trust.

The deal is financed with a $417,000 loan from Peoples Bank of Sheridan.

The residence previously was linked with an October 2004 mortgage of $100,000 held by Bank of America in Charlotte, N.C.

The property was acquired for $390,000 in September 1998 from Bernard and Gracie Stokes.

Pediatrics Funding

Two Pediatrics Plus properties in west Little Rock are helping secure a $3.5 million funding agreement.

Kids Play Properties LLC, led by Todd Denton, Bentley Blackmon and David Tapp, obtained the seven-year loan from Centennial Bank.

The 1.65-acre piece of the 1900 Aldersgate Road project also secures an August 2012 mortgage of $149,000 held by Delta Trust & Bank of Little Rock.

The land was bought for $230,000 15 months ago from Nabholz Inc., led by Bill Hannah.

The 3,786-SF A World of Difference Therapy project at 32 Rahling Road also secures a February 2012 mortgage of $455,760 held by Bank of America.

The half-acre development was purchased for $613,000 in September 2008 from SGCMHG LLC, led by Mary Orellano and Susan Carver.

Retail Refinance

The owner of a 28,785-SF retail project in Jacksonville landed a $2.7 million financial package.

Hanner Properties-Arkansas LLC, led by John Hanner, received a five-year loan of $2.37 million and a four-year loan of $353,000 from Wells Fargo Bank of Sioux Falls, S.D.

The 3.9-acre Waterford Creek development at 120-140 John Harden Drive previously was tied to an August 2006 mortgage of $3 million held by Century Bank of Texarkana, Texas.

The land was assembled in two transactions totaling $415,000. The sellers were Haskins Family Ltd., led by John Haskins, $350,000 in July 2003, and Rebsamen Medical Center Inc., $65,000 in August 2006.

Foxglen Note

The owner of a 96-unit apartment project in west Little Rock picked up a $2.18 million mortgage.

Foxglen Associates, led by John Flake, got the 22-year loan from Wells Fargo Bank.

The 5.64-acre Foxglen development at 8100 Cantrell Road previously was linked with a February 2002 mortgage of $2.18 million held by Reilly Mortgage Group Inc. of McLean, Va.

The location was acquired for $80,000 in March 1980 from the city of Little Rock.

 

 

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