Sherwood Boomerang Car Wash Generates $2.4M Sale (Real Deals)

The sale of a Sherwood car wash tipped the scales at $2.4 million.

Bailey’s Tunnel Wash LLC, led by John Bailey, purchased the Boomerang Car Wash project at 7900 Highway 107. The seller is 1908 Investments LLC, led by Mark McCaslin.

The deal was funded in connection with a 15-year loan of $14.1 million from Arvest Bank of Fayetteville.

The 1.24-acre site was acquired for $315,000 in August 2009 from Kristi Couch, Cindy Couch Clay, Margaret Eugenia Couch, Michael Couch and Tonya Couch Helmstetter.

Sherwood Site

A 0.48-acre commercial property in Sherwood sold for $280,000.

Bryan and Sonja Glaze acquired the S&S Battery project at 9714 Highway 107 from JWJ Investments LLC, led by Steve Jenkins.

The location was bought for $110,000 in January 2005 from Charles and Helen Greenfield.

Clinical Acquisition

A med-related property in Little Rock changed hands in a $981,091 transaction.

Dialysis Clinic Inc. of Nashville, Tenn., bought the 18,750-SF 1910 John Barrow Road project from Tri-Med Investment Corp., led by Randal Caldwell.

The 2.39-acre development previously was tied to a January 2007 mortgage of $312,777 held by First National Bank of Wynne.

The location was purchased for $75,000 in November 1992 from Big K Development Corp., led by Kelton Brown Sr.

Hallen Court Home

A 4,700-SF house in the Hallen Court neighborhood of west Little Rock’s Chenal Valley development changed hands in a $640,000 deal.

Richard Stephens Jr. and his wife, Centhia, purchased the house from Homebank of Arkansas in Greenbrier. The bank provided a $450,000 loan.

Homebank recovered the property in October 2011 from LSCG LLC, led by Jay and Kristi Cascio.

The residence previously was tied to an August 2006 mortgage of $716,000 and a December 2007 mortgage of $55,000 held by the bank.

Parking Purchase

A parking lot in downtown Little Rock is under new ownership after a $500,000 sale.

Broadway Park LLC, led by Brett Pitts, acquired the 0.52-acre property at the northwest corner of Louisiana and Sixth streets from One Bank & Trust of Little Rock.

The bank entered the ownership picture in September 2012 through the estate of James H. “Bum” Atkins, which owed One Bank $610,000.

The property was bought for $200,000 in November 1981 to support the Atkins Building at 105 W. Capitol Ave. The sellers were Batte and Pamela Stanton.

Auto Transaction

The former University Truck Center in Little Rock rang up a $500,000 sale.

Mountain Investments LLC, led by Tim Zimmerman, purchased the 7.76-acre development at 4601 S. University Ave. The seller is SBF Investments II Inc., originally led by Bob Fewell.

The transaction is backed with a five-year loan of $600,000 from Bank of Little Rock. The property previously was tied to an August 2009 mortgage of $407,905 held by Centennial Bank of Conway.

The property was acquired in April 1967 as part of a $260,000 deal with Carl and Katherine Boyd and Grover and Pauline Boyd.

Belle Pointe Abode

A 3,900-SF home in the Belle Pointe neighborhood of west Little Rock is under new ownership after a $607,000 sale.

Gerson Teran and Luidmila Schafer bought the house from Paul W. Stout Revocable Trust.

The deal is funded with a 30-year loan of $417,000 and a 20-year loan of $159,650 from Arkansas Federal Credit Union of Jacksonville.

The residence previously was linked with an August 2004 mortgage of $456,000 held by Bank of Little Rock Mortgage Corp.

The property was purchased for $85,000 in April 2001 from the George Morrison Henry Revocable Trust and William Terry Roy.