Deltic Acreage Adds Up To $2.5 Million Buy (Real Deals)

The sale of a 37-acre tract in west Little Rock tipped the scales at $2.4 million.

Deltic Timber Corp. of El Dorado bought the land east of Rahling Road and south of Pebble Beach Estates from Agar/Shuffield Joint Venture, led by Elvin Shuffield.

Deltic also acquired a 1-acre parcel in the area from Shuffield in a separate $100,000 deal.

The 37-acre tract was purchased for $314,000 in September 1987 from Big K Development Corp., led by Kelton Brown. The other parcel was bought for $70,000 in May 2009 from Pleas Jones Jr.

Innerplan Purchase

A 19,712-SF office warehouse facility in North Little Rock changed hands in a $1.8 million transaction.

North Little Rock Ventures LLC, led by Roger McMennamy, purchased the 2.5-acre Innerplan project at 7001 Innerplan Drive. The seller is NSHE Clay LLC, led by James Narup.

The deal is financed with a 10-year loan of $1.7 million from NSHE.

The land was part of a 10.7-acre tract bought for $1.1 million in September 2004 from Lee and Martha Kierre.

Dental Redevelopment

A former USA Drug property is under new ownership after a $759,000 deal.

Turcios & Zarruk Dental, led by Jose Turcios and Patricia Zarruk, acquired the 215 N. Bowman Road project. The seller is AJMATS-LP AR Properties LLC, led by Jason LaFrance.

The deal is funded with a 10-year loan of $559,000 from Regions Bank of Birmingham, Ala.

The 0.61-acre site was purchased for $734,000 in March 2010 from Maury Mitchell Associates Ltd. III, led by H. Maurice Mitchell Jr.

Roofing Acquisition

A 39,766-SF warehouse facility in North Little Rock rang up a $550,000 sale.

Affordable Residential Roofing Inc., led by Manuel Del Toro, bought the 3401 E. Broadway project.

The seller is Rock City Furniture Inc., led by Virginia Vellance.

The deal is backed with a 15-year loan of $520,000 from Arkansas Capital Corp. of Little Rock.

Rock City acquired the 9.72-acre development for $320,000 in December 1991 from Hulman & Co. of Terre Haute, Ind.

Hidden Transaction

A 0.93-acre multifamily project in Sherwood drew a $500,000 transaction.

Hidden Valley Apartments LLC, led by Marna Givens, purchased the properties at 9000, 9001, 9006 and 9007 Woodbine Drive from the Cameron Living Trust, led by Henry Cameron.

The land was bought for $11,560 in February 1972 from George and Beedie McLean.

Land Buy

A 0.44-acre parcel in midtown Little Rock sold for $456,061.

A&A Investments LLC, led by Amir Qureshi, acquired the land at the northeast corner of Markham and Fillmore streets from Dr. Patricia Ugwu.

The property was purchased in September 2002 as part of a $375,000 deal with Richard and Rita Pellegrino.

Downtown Deal

A 20,680-SF storefront building in downtown Little Rock changed hands in a $385,000 sale.

Prachi Investment Inc., led by Dipesh Patel, bought the 610 Main St. project. The seller is FNT Development LLC, led by Frieda Tirado.

The 0.24-acre development previously was tied to a September 2005 mortgage of $272,000 held by Metropolitan National Bank of Little Rock.

The property was acquired for $320,000 more than seven years ago from Penzel Heirs LLC, led by Lee Wright.

Vision Development

A commercial property in west Little Rock is under new ownership after a $350,000 deal.

Vision Properties of Arkansas LLC, led by Abdul Jiwani, purchased the Stagecoach Grocery & Deli at 6024 Stagecoach Road from Charles Goss Jr. and his wife, Kathy.

The deal is financed with a 15-year loan of $330,000 from the sellers.

The 3.97-acre development was bought for $484,000 in December 2006 from the Charles & Jean Goss Revocable Family Trust.

Landmark Retail

A 4,800-SF retail project in the Landmark community in southeast Pulaski County rang up a $330,000 sale.

Koon Properties LLC, led by Walter and Diane Koon, acquired the 15424 Arch St. project. The seller is Minerva Enterprises Inc., led by Jonathon McCaleb.

The deal is funded with a $200,000 loan from Peoples Bank of Sheridan.

The 4.49-acre site was purchased for $33,000 in May 1971 from Alton and Floy Cash.

Sherwood Commercial

An 8.65-acre commercial property in Sherwood drew a $235,000 transaction.

Glaze/Adams Enterprises LLC, led by Bryan and Sonja Glaze and Richard and Rachel Adams, bought the Wagging Tails project at 14307 Hwy. 107 from Cassandra Bone.

The deal is backed with a five-year loan of $275,833 from Little Rock’s Bank of the Ozarks.

The land was assembled in two transactions totaling $68,000. The sellers were Patsy Killough, $40,000 in October 1991, and the estate of Woodrow Wilson Sellers, $28,000 in December 1993.

Beau Vue Abode

A 5,978-SF home in west Little Rock’s Beau Vue Estates neighborhood sold for $999,000.

Richard and Supha Mays purchased the house from Ken and Marjorie Burnett. The deal is financed with two loans totaling $599,000 from Delta Trust & Bank of Little Rock.

The residence previously was linked with a March 2008 mortgage of $950,000 held by One Bank & Trust of Little Rock.

The location was bought for $250,000 in December 2002 from Beau Vue Estates LLC, led by Ken Shollmier.

Germay Residence

A 5,293-SF home in the Germay Court neighborhood of west Little Rock’s Chenal Valley development changed hands in a $670,000 deal.

Ariane Fason acquired the house from Kimberly Adametz.

The deal is funded with a 30-year loan of $417,000 from IberiaBank Mortgage Co. of Little Rock and a 20-year loan of $213,000 from IberiaBank of Lafayette, La.

The residence previously was tied to an October 2010 mortgage of $413,500 from One Bank.

The property was purchased for $640,000 in May 2008 from Cartus Financial Corp. of Danbury, Conn.

Belle Pointe Home

A 4,343-SF home in west Little Rock’s Belle Pointe neighborhood is under new ownership after a $518,000 transaction.

William and Cynthia Waldron bought the house from Elias and Lina Anaissie. The deal is backed with a 30-year loan of $414,320 from BancorpSouth Bank of Tupelo, Miss.

The residence was acquired for $455,000 in November 1999 from Tom Allen Construction LLC.

St. John’s House

A 2,629-SF home in Little Rock’s St. John’s Place neighborhood rang up a $517,000 sale.

Richard and Alice Watts purchased the house from the Mary S. East Living Trust.

The deal is financed with a 30-year loan of $350,000 from First Financial Bank of El Dorado.

The location was bought for $190,000 in April 1993 from JWB Co., led by J.W. Benefield.

Holiday Inn Funding

The owner of a 128-room hotel in west Little Rock landed a $6.37 million funding agreement.

Westrock Hotels LLC, led by Pravinchandra Patel, Ishver Govind and Manish Patel, obtained the three-year loan from Heartland Bank of Bryant.

Other investors include Pankesh Jariwaia, Hiren Jetha, Naresh Patel, Nayan Nagin, Hasmukhlal Patel, Laxmi Patel, Janak Patel, Shailesh Patel, Keyn Vyas, Jayantilal Patel, Arvind Patel and Suresh Patel.

The 2.99-acre Holiday Inn development at 10920 Financial Centre Parkway previously was linked with a January 2012 mortgage of $5.49 million and an October 2012 mortgage of $891,251 held by Heartland.

The project was acquired for $2.8 million in August 2011 from Jameson Crestwood I LLC of Smyrna, Ga.

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