Bass Pro Shop Site in Little Rock Rings Up $3 Million Transaction (Real Deals)

A 120,000-SF retail project in the Otter Creek area of Little Rock is in motion after a $3 million land deal.

Bass Pro Outdoor World LLC of Springfield, Mo., purchased the 29.3-acre site in the Gateway Town Center project from Town Center LLC, led by Tommy Hodges.

The Gateway development at the northwest corner of Interstate 30 and Otter Creek Road is backed by a June 2012 mortgage of $3.5 million held by Malvern National Bank.

The land was part of a four-part assembly of 176 acres in January 2002 deals totaling more than $2.4 million.

The sellers were Canadian Pacific Properties Inc. of Alberta, Calgary, $1.46 million; Otter Creek Development Co. LLC, led by Robert McGinnis and Byron Eiseman, $784,000; Cynthia Keaton, $143,000; and Jennifer Mae Kochtitzky Trust No. 2, $81,390.

Covenant Funding

Fifty homes in a west Little Rock residential project are securing a $6.6 million funding agreement.

Faithland Residential Properties 10 LLC, led by Pamela Brown-Courtney and Dr. Willis Courtney Jr., obtained the five-year loan from One Bank & Trust of Little Rock.

The 10-acre Covenant Cove development along Kensington Drive be-tween Romine Road and Leigh Drive previously was tied to loans totaling $7.2 million. The lenders were One Bank totaling $4.7 million, First Security Bank of Searcy totaling $1.4 million and Bank of Little Rock totaling $1.1 million.

The land was purchased for $100,000 in May 2001 from George A. Brown and Charles Anderson.

Twin Purchase

A future Twin Peaks location in west Little Rock tipped the scales at $1.35 million.

TC Little Rock LLC of Phoenix bought the former Cozymel’s site at 10 Shackleford Drive from Coastal Restaurants Ltd., led by Jacob Baum.

The 2.1-acre development previously was tied to a June 2008 mortgage of $9 million held by Frost National Bank of San Antonio.

The location was purchased for $778,000 in November 1993 from Ka Kieng Sy.

Moix Property

A 6,000-SF sales and service center near Alexander sold for $700,000.

Perry Konis Jr. acquired the Moix RV project at 10903 Interstate 30 from M&T Enterprises Inc., led by Frank and Michael Moix.

The deal is funded with a seven-year loan of $525,000 from IberiaBank of Lafayette, La.

The 10.8-acre development previously was linked with a June 2009 mortgage of $400,000 held by Centennial Bank of Conway.

The property was purchased for $85,000 in November 1993 from the estate of Troy Hood.

Office Acquisition

A 4,000-SF office building in west Little Rock is under new ownership after a $635,000 deal.

Rebeccarice & Associates LLC, led by Rebecca Rice, bought the 17709 Cantrell Road project. The seller is TGG Properties LLC, led by Theodore Grace.

The deal is backed with a 10-year loan of $520,000 from BancorpSouth Bank of Tupelo, Miss.

The 0.33-acre development previously was tied to a December 2006 mortgage of $807,500 held by Arvest Bank of Fayetteville.

The property was acquired for $460,000 more than seven years ago from 3½ LLC, led by Sam Hilburn and Rodney Thompson.

Loft Foreclosure

A 41-unit apartment project in downtown Little Rock changed hands in a $547,662 foreclosure sale.

Quality Properties Asset Management Co., an affiliate of Bank of America in Charlotte, N.C., recovered Eastside Lofts at 1401 Scott St. from Eastside High

School Ltd., led by Steven Hitt. The 1.2-acre development previously was linked with a January 2010 mortgage of $1.15 million held by Bank of America.

The property was purchased for $234,000 in April 2000 from the Little Rock School District.

Salvation Transaction

Nonprofit groups were on both sides of a $550,000 transaction in North Little Rock.

The Salvation Army acquired Cornerstone Church at the northeast corner of West McCain Boulevard and Locust Street from the Arkansas District Council of Assemblies of God Inc.

The 3.37-acre property at 5106 Locust St. was bought for $35,000 in March 1964 from Metropolitan Trust Co., led by Justin Matthews III.

Cycle Sale

A North Little Rock commercial property drew a $350,000 transaction.

2017 Properties LLC, led by Joe Henderson III, purchased the Mainline Cycle project at 929 W. 33rd St. The seller is Mainline Cycle Corp., led by Dwight Stark.

The corporation financed the entire purchase price.

The 0.58-acre property was acquired for $145,000 in June 1982 from R.J. Yelenich, E.G. Hoover, B.T. Taylor and Steve Taylor.

Rural Residence

A 4,986-SF home near Roland rang up a $780,000 transaction.

Barry and Andrea Griffith bought the house from Mark and Rhonda McMurry. The deal is funded with a 15-year loan of $380,000 from Delta Trust Mortgage Inc. of Little Rock.

The 10.3-acre residential spread previously was tied to January 2006 mortgages totaling $807,500 held by Bank of Little Rock Mortgage Inc.

The property was purchased for $850,000 seven years ago from Guy and Amy Henry.

Normandy Home

A 3,223-SF home in the Normandy neighborhood of Little Rock drew a $500,000 sale.

Richard Meyer acquired the house from Edward and Patricia Jeffries. The deal is backed with a 30-year loan of $300,000 from Bank of Little Rock Mortgage.

The residence previously was linked with a May 2009 mortgage of $237,844 held by Wells Fargo Bank of Sioux Falls, S.D.

The location was bought for $45,300 in August 1993 from Ian and Sue Campbell.

Winemiller Mortgage

The owner of a 463-acre tract in North Little Rock picked up a $2.05 million financial package.

Tulip Farms Inc., led by Jimmy Winemiller, received the one-year loan from Little Rock’s Bank of the Ozarks.

The land is near the southeast corner of Interstate 40 and Galloway Road, north of U.S. 70 and south of Long Cypress Brake.

The corporation acquired the property from the bank for $1.03 million in December 2011.

Bank of the Ozarks took possession of the land through a deed in lieu of foreclosure transaction in September 2011 with Rex Robertson. The property secured a February 2007 mortgage of $2.25 million held by the bank.

Million-Dollar Construction

Arcade Building    $10,900,000
100 River Market Ave., Little Rock
Clark Contractors LLC, Little Rock

Barg Gray Clinic    $2,674,000
11415 Executive Center Drive, Little Rock
NBMC Inc., Greenbrier

5,600-SF house    $1,223,000
6 Spring Valley Lane, Little Rock
Kevin Hughes Construction Co., Little Rock

LongHorn Steakhouse     $1,000,000
2628 S. Shackleford Road, Little Rock
Jerry Kachel Builder Inc., Spring, Texas

Motel    $1,000,000
3801 W. Eighth St., Little Rock
Avinash Patel, Pine Bluff