The sale of a 123,872-SF store in Sherwood tipped the scales at $7.2 million.
BRE DDR BR Sherwood AR LLC of New York bought the Gander Mountain at 5450 Landers Road from Cole MT Sherwood AR LLC of Phoenix.
The 12.5-acre development is now helping secure an $800 million funding agreement with Wells Fargo Bank of Sioux Falls, South Dakota, and Citigroup Global Markets Realty Group of New York.
Cole MT acquired the project for $5.85 million in June 2012 from KTJ 189 LLC of Minnetonka, Minnesota.
Distribution Deal
A 25,000-SF office-warehouse facility in North Little Rock weighed in at $2.19 million.
ARCP ID North Little Rock AR LLC, an affiliate of American Realty Capital Properties Inc. of New York, purchased the SCP Distributors project at 7610 Northshore Place from John Hayes III and his wife, Amber.
The 2.47-acre development previously was tied to October 2013 mortgages of $1 million and $600,000 held by Landmark Community Bank of Collierville, Ten-nessee.
The property was bought for $1.65 million in January 2007 from Pool Development LLC, led by Manuel Perez de la Mesa, David Cook, Craig Hubbard and John Murphy.
Convenient Assembly
The location for a convenience store development in west Little Rock was assembled in two deals totaling $2.1 million.
Murphy Oil USA Inc. of El Dorado acquired a 1.3-acre residential property at the southeast corner of Cantrell and Taylor Loop roads for $1.5 million from the Giggleman Living Trust, led by Carolyn McDuffee and Charles Giggleman.
The neighboring 0.86-acre bank branch location at 14711 Cantrell Road was bought for $600,000 from One Bank & Trust of Little Rock.
The bank acquired the project for $712,000 in September 1993 through Bank Partners, led by Scooter Stuart. The seller was Little Rock’s Worthen National Bank of Arkansas.
The Giggleman family purchased its property for $3,800 in June 1948 from L.E. and Lillie Pitts.
Pavement Property
A parking lot in downtown Little Rock changed hands in a $1.5 million transaction.
Texarkana Newspapers Inc., led by Walter Hussman, bought the 0.74-acre property on the north side of Capitol Avenue between Scott and Cumberland streets. The sellers are Ronald Thom and Eliza Yeager, the estate of Mary Alice Butler Calcote and James Whitmore III and his wife, Karon.
The property was acquired for an undisclosed sum in March 1944 from A.W. Realty Co., now a subsidiary of Southwestern Energy Co. of Spring, Texas.
Retail Transaction
A 10,596-SF retail project in Little Rock rang up an $810,000 sale.
SC 7 Cantrell LLC, led by Tom Gordon and Dewitt Smith, purchased the 7514 Cantrell Road project. The seller is C&J Jernigan Investments LLC, led by the Charles & Jo Ann Jernigan Revocable Trust.
The deal is financed with a three-year loan of nearly $2 million from Arvest Bank of Fayetteville.
The Jernigan family bought the 0.72-acre property in March 1951 from Irene Thompson for an undisclosed sum.
Surplus Sale
An 8,296-SF office building and bank branch in Maumelle is under new ownership after a $510,000 transaction.
David’s Real Estate LLC, led by David and Jessica Bubbus, acquired the 102 Country Club Parkway project from Arvest Bank. The deal is backed with a one-year loan of $995,400 from First State Bank of Russellville.
Arvest inherited the 1.27-acre development though its December 2013 purchase of North Little Rock’s National Bank of Arkansas. NBA bought the land in June 2000 as part of a $620,000 deal with DeHaven Todd Ltd., led by Jay DeHaven.
Auto Acquisition
A 1,200-SF office building in south Little Rock sold for $180,000.
A Plus Cars of Atlanta LLC, led by Gary Pierce, purchased the 5015 S. University Ave. project. The seller is Bullock’s Kentucky Fried Chicken Inc., led by Randy Bullock.
The deal is funded with a 20-year loan of $220,000 from Arkansas Capital Corp. of Little Rock.
Bullock’s acquired the 1.09-acre property for $150,000 in June 1983 from Mid-Ark Car Wash Inc., led by James Ingram.
Betswood Abode
A 3,508-SF home in the Betswood neighborhood of Little Rock drew a $650,000 transaction.
2 Betswood Circle Trust, led by Thomas and Meredith Moll, bought the house from John and Lauren Agar
The deal is financed with a 30-year loan of $585,000 from One Bank & Trust.
The residence previously was linked with September 2001 mortgages of $417,000 held by Bank of Little Rock Mortgage Corp. and $169,000 held by Bank of Little Rock.
The Agars purchased the property for $450,000 in October 2008 from John Bale Jr. and his wife, Sharon.
Oaks House
A 3,638-SF home in The Oaks neighborhood of west Little Rock’s Chenal Valley development changed hands in a $545,000 foreclosure sale.
HSBC Bank USA of McLean, Virginia, recovered the house from Dennis and Sharron Cossey.
The residence originally was secured by two August 2006 loans totaling $704,000 from First National Bank of Arizona in Scottsdale. The lender was closed by regulators in 2008.
The Cosseys bought the property for $705,000 more than eight years ago from Mark Schlesinger.
Outlet Financing
Construction of a 325,000-SF outlet mall in west Little Rock is in motion with a $68.8 million funding agreement.
NED Little Rock LLC of Newton, Mas-sachusetts, obtained the financing from a consortium of lenders led by Bank of America in Charlotte, North Carolina.
The 29.7-acre Outlets at Little Rock location in the Gateway Town Center development was purchased for $5.2 million in February 2014 from Town Center LLC, led by Tommy Hodges.
Office Refinance
The owners of a 231,206-SF office building in the Riverdale area of Little Rock picked up an $11.8 million mortgage. The 7.15-acre piece of the former Alltel campus at 1 Allied Drive is now backed with a seven-year loan from First Security Bank of Searcy.
The borrowers are LAF 5 Allied LLC, led by Kevin Huchingson; Stamja DT AR Properties LLC, led by Jason LaFrance; and JSJ Properties LLC, led by Joe Courtright.
The project previously was tied to an October 2013 mortgage of $10.1 million held by the bank.
The group acquired the property for $12 million in September 2013 from Alltel Communications LLC, a Verizon affiliate.
Industrial Funding
A 38,000-SF industrial facility in south Little Rock is securing a $9.67 million financial package. Super Properties III LLC, led by John Hugg and Robert Hall, received the loan from BOKF of Tulsa.
The 9.28-acre Hugg & Hall Equipment development at 7201 Scott Hamilton Drive previously was linked with an August 2005 mortgage of $1.6 million held by the bank.
The property was assembled in two transactions totaling $836,000. The sellers were Charles Hugg, $563,000 in June 1994; and Orbit Valve Co., led by Duane Morgan, $273,000 in April 2001.
Apartment Mortgage
The owner of a 104-unit apartment complex in North Little Rock landed a $2.1 million funding agreement.
Intrepid Investments Inc., led by Christopher Schultz, got the loan from First Security Bank.
The 6.46-acre Protho Manor Apartments development at 1909 Hwy. 161
previously was tied to a February 2014 mortgage of $1.85 million held by Southern Bancorp Bank of Arkadelphia. The project was bought for $2.5 million in February 2003 from Myrtle Henry.