Little Rock PetSmart Attracts $4.5M Deal (Real Deals)

by George Waldon  on Monday, Jan. 27, 2014 12:00 am  

A PetSmart store in west Little Rock is under new ownership after a $4.5 million sale.

Cole PM Little Rock AR LLC of Phoenix bought the 26,156-SF project at 11400 Financial Centre Parkway from TFG LLC of Los Angeles.

The deal is financed as part of a 14-month loan of $50 million from JPMorgan Chase Bank of Columbus, Ohio.

The 2.53-acre development previously was tied to a pair of loans: an August 1996 mortgage of $1.97 million and a February 2006 mortgage of $450,000 held by the Union Central Life Insurance Co. of Cincinnati.

The property was acquired for $2.9 million in May 1996 from PMT Investors No. 1 Ltd. of Dallas.

Dealership Development

A relocation site for two west Little Rock auto dealerships tipped the scales at $2.9 million.

Riverside Properties LLC, led by Lisenne Rockefeller, purchased an 8.04-acre parcel near the southwest corner of Col. Glenn and David O. Dodd roads. The property will become the new home for Riverside Acura and Riverside Subaru.

The seller is Terraforma LLC, led by David Bruning and Doug Meyer.

Terraforma bought the property in September 2001 as part of a $1.15 million deal with the Gale Douglass Rush Revocable Trust and the Mary A. Rush Revocable Trust.

Multifamily Land

Land for a 78-unit apartment project in downtown North Little Rock was assembled in three deals totaling $1.26 million.



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