On the Border Serves $4.3M Deal (Real Deals)

by George Waldon  on Monday, Feb. 24, 2014 12:00 am  

On the Border, Sherwood

A 1.51-acre eatery development in Sherwood tipped the scales at $4.3 million.

Manganaro’s Hero Boy Inc. of New York bought the On the Border project at 6000 Warden Road from OTB Acquisition LLC of Irving, Texas.

OTB acquired the location for $918,000 in April 2013 from Sherwood Forest LLC of San Antonio.

School Assembly

Land for a middle school campus in west Little Rock was assembled in two deals totaling $4.2 million. The Little Rock School District purchased 43.5 acres, most of which is on the east side of Katillus Road north of Cantrell Road.

The sellers were the William L. Adams Family Trust and William and Iva Adams, 40 acres for $3.4 million; and Professional Property Co. LLC, led by Sam Winstead, 3.5 acres near the northwest corner of Katillus and Cantrell roads.

The PPC parcel was part of the 26.7-acre Leisure Arts development at 5701 Ranch Road. However, it was excluded from the $12.5 million sale to Baptist Health in April 2013.

Leisure Arts bought the land as part of a $1.4 million deal with Johnson Ranch Partnership, led by Ed Willis.

The Adams family had owned their property since striking a deal with F.R. and Effie Worstel in 1942.

Trane Transaction

A 60,000-SF office-warehouse facility in west Little Rock shifted ownership in a $2.75 million transaction.

VHV Partnership, led by Robert Vogel, acquired the 50 percent stake in the Trane Arkansas project at 19 Col. Glenn Plaza Drive. The seller is Lay Family Revocable Trust, led by Gary Lay.



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