Agriculture Land Produces $2.6M Sale (Real Deals)

by George Waldon  on Monday, Jan. 6, 2014 12:00 am  

Farmland along the Pulaski-Lonoke County line drew a $2.6 million transaction.

Thomas and Susan Hoskyn purchased about 1,030 acres along U.S. Highway 165, about 2 miles northwest of Keo. The seller was the Elizabeth A. Burnett Revocable Trust.

The trust provided a 10-year loan of $2.3 million to finance the deal.

The Pulaski County land (about 320 acres) was acquired for $22,500 in January 1941.

Independent Acquisition

A 13,290-SF office building in west Little Rock changed hands in an $875,000 sale.

Independent Case Management Inc., led by Joe Bryan, bought the 1525 Merrill Drive project. The seller is MLRH Properties LLC, led by William Hoag, and the John Mathis Lile III Irrevocable Family Real Estate Trust.

The 0.74-acre development previously was linked with a November 2005 mortgage of $513,314 held by Arvest Bank of Fayetteville and a December 2005 mortgage of $250,000 held by Centennial Bank of Conway.

The property was purchased for $455,000 in January 1994 from Bailey Corp., led by John Bailey.

Regal Purchase

A 1.27-acre commercial site in North Little Rock drew a $485,000 transaction.

Regal Properties LLC, led by Muhammad and Zoka Almahayni, acquired the location near the southwest corner of Crystal Hill Road and Paul Eells Drive from the Wal-Mart Real Estate Business Trust of Bentonville.



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