LR Interstate Property, Nursing Home Both Net $5M+ Buys (Real Deals)

by George Waldon  on Monday, Mar. 17, 2014 12:00 am  

Chenal Heights Nursing & Rehabilitation, a 120-bed project  in west Little Rock, is under new ownership after a $5.4 million transaction. (Photo by Jason Burt)

Cliff Lee Enterprises LLC purchased the 1401 Mart Drive project from Mart Drive LLC, led by Philip Tappan and Wayne Moore.

The 0.75-acre development previously was tied to a December 2011 mortgage of $857,007 held by Delta Trust & Bank of Little Rock.

The property was acquired for $145,000 in December 2009 from Alltel Corp.

Million-Dollar Construction  
120-bed Nursing Home $7,676,500
Argenta Health Services  
13500 David O. Dodd Road, Little Rock  
Capehart & Capehart Builders Inc., Sallisaw, Okla.  
Hampton Inn $3,890,000
3629 McCain Blvd., North Little Rock  
Vishnu Inc., North Little Rock  
Hybrid Operating Room $2,500,685
9601 Baptist Health Drive, Little Rock  
Baldwin & Shell Construction Co., Little Rock  
Chuck E. Cheese’s $1,481,146
2706 S. Shackleford Road, Little Rock  
Parkway Construction & Associates,  
Lewisville, Texas  
Chipotle Mexican Grill $1,147,249
100 S. University Ave., Little Rock  
Gallant Construction Co., Crystal Lake, Ill.  
Hotel Remodeling $1,000,000
521 President Clinton Ave., Little Rock  
Courtyard by Marriott, Bethesda, Md.

Allied Acquisition

An 8,632-SF office building in North Little Rock changed hands in a $950,000 deal.

Allied Investments LLC, led by Beth and Jeffrey Stamp, bought the 5532 JFK Blvd. project. The seller is Norock LLC, led by Michael Sentell.

Norock provided a 25-year loan of $930,000 to finance the deal.

Sentell purchased the 1.13-acre development for $780,000 in April 2001 from McKay & Co. LLC, led by John McKay Jr.

Double Convenient Deal

Two Hess convenience stores in Pulaski County are under new ownership after deals totaling $825,000.

Changho Lee acquired the 7715 Geyer Springs Road project in Little Rock for $450,000 and the 1530 W. Main St. project in Jacksonville for $375,000.

The seller in both deals is the Yelenich Family Revocable Living Trust, led by Roy Yelenich.



Please read our comments policy before commenting.

Latest Arkansas Business Poll

Should the alcohol amendment remain on the ballot?