Fuel Storage Facility Attracts $5M Sale (Real Deals)

by George Waldon  on Monday, Feb. 10, 2014 12:00 am  

The sale of a 21.6-acre fuel storage development in North Little Rock tipped the scales at $5 million.

Delek Logistics Operating LLC of Brentwood, Tenn., bought the 2724 Central Airport Road project from Enterprise Refined Products Co. LLC of Houston, Texas.

The property was acquired for $1.8 million in July 2005 from Exxon Mobil Corp. of Irving, Texas.

Kum & Go Purchase

A convenience store just north of Maumelle rang up a $3.4 million sale-leaseback transaction.

Port Cities Oil LLC, an affiliate of North Little Rock’s Coulson Oil Co., purchased the Kum & Go at 21510 Highway 365.

The seller is KG Store 155 LLC, an affiliate of the Kum & Go chain based in West Des Moines, Iowa.

The 1.25-acre previously was tied to a March 2013 mortgage of $2.44 million held by First National Bank of Omaha, Neb.

The location was bought for $1.2 million in March 2013 from RL Ferrell Inc., led by Ron Ferrell.

Building Products Buy

A 32,426-SF building products facility in North Little Rock changed hands in a $1.5 million sale.

PBP Real Estate I LLC of Memphis acquired the Plymouth Building Products project at 9900 Maumelle Blvd. The seller is CTRJ Properties LLC, once led by Steve Clary and Jephta Thibault.

The deal is financed with a $2.08 million loan from Independent Bank of Memphis.

CTRJ purchased the 2.99-acre development for $1.4 million in February 2002 from Burton Building Products Inc., led by Steven Burton.

Industrial Acquisition

A 44,778-SF industrial facility in Little Rock is under new ownership after a $774,000 transaction.

Allan Neil Properties Inc. of Florence, Ala., bought the 6901 Scott Hamilton Road project from Little Rock Paper Co., led by Dorothy Moffett.

The deal is backed with a four-year loan of $702,000 from Little Rock Paper Co.

LRPC acquired the location in two deals in August 1961 and June 1963 totaling $30,000.

The seller in both transactions was the Industrial Development Co. of Little Rock, led by R.A. “Brick” Lile.

Media Transaction

A 7,254-SF broadcast building in Little Rock’s Riverdale area shifted ownership in a deal valued at $630,000.

EMR Properties LLC purchased the 2400 Cottondale Lane project from Signal Media of Arkansas Inc.

Both entities are led by Steven Jonsson.

The deal is funded with a 16-year loan of $567,000 from Signal Media.

Signal Media bought the 1.32-acre property for $400,000 in April 1984 from Multimedia Radio Inc. of Greenville, S.C.

Oakley Expansion

A North Little Rock enterprise expanded its holdings along the Arkansas River in a $375,000 deal.

Bruce Oakley Inc. acquired the 1.25-acre parcel at 3404 Gribble St. in North Little Rock.

The sellers are Robert and Gladys Webb.

The residential property previously was linked with a September 1996 mortgage of $55,800 held by George Vorgas II. The Webbs purchased the house from Vorgas for $62,000 more than 17 years ago.

Heights House

A 3,228-SF home near the Country Club of Little Rock weighed in at $750,000.

Ruth McDonough bought the house from Paul Guess.

The residence previously was tied to a February 2011 mortgage of $571,000 held by Huntington National Bank of Columbus, Ohio.

Guess acquired the property for $635,000 three years ago from the Ivan Todd Wilson & Virginia Lou Wilson Joint Revocale Trust.

Maisons Abode

A 5,183-SF home in The Maisons neighborhood of west Little Rock’s Chenal Valley development drew a $625,000 transaction.

Bruce and Jennifer Milstein purchased the house from Gregory and Jennifer Davis.

The deal is backed with a 30-year loan of $500,000 from Bank of America in Charlotte, N.C.

The residence previously was linked with December 2011 mortgages of $417,000 and $58,000 held by Summit Bank of Arkadelphia.

The Davis family bought the location for $73,000 in July 2004 from Deltic Timber Corp. of El Dorado.

Prospect Terrace Home

A 3,600-SF home in Little Rock’s Prospect Terrace neighborhood rang up a $555,000 transaction.

Greg Hale and Mica Strother acquired the house from Rebecca Streett. The deal is financed with a one-year loan of $578,800 from Southern Bancorp Bank of Arkadelphia.

The residence previously was tied to an October 2006 mortgage of $721,400 held by Arkansas Federal Credit Union of Jacksonville.

The Streetts purchased the property for $445,000 in October 2005.

The sellers were George and Mariam Hopkins.

PV Residence

A 3,457-SF home in west Little Rock’s Pleasant Valley neighborhood changed hands in a $535,000 sale.

Jennifer and Benjamin Skinner bought the house from Donald and Kay Bona.

The residence previously was linked with a May 2006 mortgage of $494,400 held by Riverside Mortgage Co. of Little Rock and a May 2006 mortgage of $100,000 and a February 2008 mortgage of $50,000 held by BancorpSouth Bank of Tupelo, Miss.

The Bonas acquired the house for $618,000 in May 2006 from Matthew and Elizabeth Roach.

Woodlands House

A 3,887-SF home in west Little Rock’s Woodlands Edge neighborhood is under new ownership after a $519,000 transaction.

Brandon and Ashley Cliff purchased the house from The Dillon Group Inc., led by Janet Dillon.

The deal is funded with a 30-year loan of $414,701 from Metropolitan National Bank of Little Rock and a two-year loan of $52,000 from Simmons First National Bank of Pine Bluff.

The residence previously was tied to an April 2013 mortgage held by Centennial Bank of Conway.

Dillon Group bought the site for $73,000 10 months ago.

The seller was Rocket Properties LLC, led by Ron Tyne.

CARTI Financing

Development of a cancer treatment facility in west Little Rock is backed with a $50.7 million bond issue.

Central Arkansas Radiation Therapy Institute Inc., led by Jan Burford, accomplished the bond issue through the Pulaski County Public Facilities Board.

CARTI acquired the 2.8-acre site on Riley Drive as part of a $5.1 million deal encompassing 37.1 acres.

The seller in that December 2012 deal was 630 Alleyway LLC, led by Sam Alley.

Grocery Loan

A 37,596-SF Kroger in the Hillcrest area of Little Rock was used to help secure a $12.5 million funding agreement.

JFP-AG/Little Rock LLC of Alamo, Calif., received the five-year loan from Comerica Bank of Dallas.

The limited liability company purchased the grocery store at 614 N. Beechwood St. for $1 million in November 2011 from Amcap Acadia Little Rock LLC of White Plains, N.Y.

All locations on map approximate.

Million-Dollar Construction

Philander Smith College Student Center $4,500,000  Stand-By Generator for Baggage Handling System $1,119,033
900 W. Daisy L. Gatson Bates Drive, Little Rock   Bill & Hillary Clinton National Airport, 1 Airport Road, Little Rock  
Nabholz Construction Corp., Conway   Fleming Electric Inc., Bryant  
     
Arkansas Specialty Orthopedics $3,064,710  New Home  $1,190,000
6119 St. Vincent Circle, Suite 100, Little Rock   108 Orle Drive, Little Rock
Clark Contractors LLC, Little Rock   Richard Harp Homes Inc., Little Rock  
     
Bassett Furniture Store $1,200,000  Shoppes at Colonel Glenn  $1,045,000
11525 Cantrell Road, Little Rock   10815 Colonel Glenn Road, Little Rock
CBM Construction Co., Little Rock   Van Tassel-Proctor Inc., Little Rock  

 

 

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