Farmland Produces $1.8M Transaction (Real Deals)

by George Waldon  on Monday, Apr. 7, 2014 12:00 am  

Soul of the South Network has a Little Rock home after a $1.6 million deal. (Photo by Jason Burt)

Auto Property

A future auto development site in west Little Rock was expanded with a $196,659 buy.

Parker Brodie Creek Holdings LLC, led by Rick Parker, acquired the half-acre parcel on the west side of Col. Glenn Plaza Drive. The seller is Colonel Glenn Bowman Road Development I LLC, led by Leonard Boen and Hank Kelley.

The property adjoins the north side of a 3-acre parcel Parker purchased for $1.3 million in December 2012 from CGBRD I. The new property previously was used to help secure a March 2012 mortgage of $8 million held by Centennial Bank of Conway.

The land is part of a 70.2-acre tract at the northwest corner of Interstate 430 and Col. Glenn Road largely assembled in two October 2002 transactions with:

• An investment group composed of J. Kenneth and Linda Shollmier, Myra and Charles Hyde Jr., Bob Fewell, James T. Bell, Robert Byrne Jr., David N. White and Charles Abrams IV, $1.95 million.

• James Hall, A. Dan Phillips, W. Daniel Thomas Jr. and William Humphries Jr., represented by Rector Phillips Morse’s Birch Brook Inc., $1.9 million.

A $950,000 deal in November 2002 with State Farm Mutual Automobile Insurance Co. of Bloomington, Ill., completed the $4.8 million land assembly.

Ridgefield Residence

A 5,930-SF home in Ridgefield Estates neighborhood sold for $720,000.

Charles Cheatham bought the house from the DeAnn Tate Revocable Trust No. 1. The deal was financed with a 30-year loan of $652,300 from PHH Home Loans LLC of Mount Laurel, N.J.

The 10.1-acre residential spread previously was tied to a March 2013 mortgage of $170,836 held by JPMorgan Chase Bank of Columbus, Ohio.



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