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.



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