Technology Drive Building Registers $11.7 Million Sale (Real Deals)

by George Waldon  on Monday, Apr. 14, 2014 12:00 am  

The 1001 Technology Drive project joined the LaFrance family’s growing portfolio of office holdings in the Little Rock market. | (Photo by Jason Burt)

The 0.24-acre development was acquired for $79,000 in August 1998 from William Clossey and Patricia C. Harrelson.

Bank Dirt

The land beneath a Bank of America branch in west Little Rock drew a $241,000 sale.

Walnut Associates LLC of Greenwich, Conn., purchased the 0.93-acre site at 11315 N. Rodney Parham Road from Presidio Capital Investment Co. of Rutherford, N.J.

The bank branch and land were bought for $545,000 in February 1977 from Worthen Bank & Trust Co., led by Edward Penick.

Premiere Purchase

A 4,920-SF storefront in downtown Little Rock sold for $185,000.

Premiere Distributors Inc., led by Russell Carter III and Brian Rogers, acquired the Sterling Annex at 219 W. Capitol Ave. The seller is Center West Properties LLC, led by Sy Niksefat.

The deal is backed with a one-year loan of $185,000 from Arvest Bank of Fayetteville.

The 0.11-acre development previously helped secure a December 2006 mortgage of $375,000 held by First Arkansas Bank & Trust of Jacksonville.

Center West purchased the property for $150,000 more than seven years ago from Forbing Investments, led by Jack Grundfest.

Industrial Sale II



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