Medical Office Buy Exceeds $4.3M Mark (Real Deals)

Former Gastrointestinal Center at 405-409 N. University Ave. in Little Rock. (George Waldon)

A 16,024-SF medical office project in midtown Little Rock tipped the scales at $4.32 million.

Christie Holdings LLC, led by Chunyang Fan, purchased the former Gastrointestinal Center, at 405-409 N. University Ave., and a nearby 0.27-acre parking lot on the south side of C Street.

The seller is University Properties LLC, led by Dr. Jaymie Pennington. The deal is financed with a three-year loan of $3.6 million from First Arkansas Bank & Trust in Jacksonville.

The 0.56-acre office development was assembled in deals with A.J. and Rosemary Brizzolara, $77,000 in November 1970; and M&P Properties, led by Clifton Parnell III and Dale Morris, $343,000 in July 2000.

The parking lot property was bought in June 1991 from Leon and Roxanne Catlett, $49,000; and Freddie and Lois Ball, $46,000.

Elm Court Sale

A 20-unit apartment project in downtown Little Rock weighed in at $1.7 million.

7th & Sherman Street LLC, led by Vince Salvaggio, acquired Elm Court Apartments at 623 Sherman St. from Hat Properties LLC, led by James Hoffman.

The deal is funded with a five-year loan of $1.1 million from RWC Lending LLC of New York.

Hat Properties purchased the 0.25-acre development for $1.2 million in January 2022 from Elmscourt Apartments LLC, led by Josh Malone, Robert Fleming and Douglas Melkovitz.

Flex Acquisition

A 36,000-SF industrial flex building in North Little Rock sold for $1.61 million.

4617 Taylor St. Acquisition LLC, led by Ian Hawk, sold its namesake address to Manly LLC of Grass Valley, California.

The deal is backed with a three-year loan of $646,000 from Arvest Bank of Fayetteville.

4617 Taylor St. acquired the 1.71-acre development for $630,000 in May 2021 from Kirk Property Management LLC, led by Pamela Kirk.

Mabelvale Project

The 9,430-SF Train Station Centre in the Mabelvale area of Little Rock changed hands in a $670,000 deal.

The D.L. Boyd Family Trust purchased the office-daycare project at 10600 Train Station Drive. The seller is American Services LLC, led by Ray Barber.

The deal is financed with a five-year loan of $456,078 from Central Bank of Little Rock.

American Services bought the 1.14-acre development for $399,000 in August 2012 from Atlanta’s Swett & Crawford of Georgia Inc.

Coffee Shop

Development of a Scooter’s Coffee Shop is in motion after a $300,000 land deal in west Little Rock.

Mohib’s Coffee, led by Moeezullah Beg and Saifullah Beg, acquired the 2.8-acre site at 8123 Stagecoach Road. The seller is Stagecoach Land Co. LLC, led by Tammy Owings.

The deal is funded with a two-month loan of $225,000 from Simmons Bank of Pine Bluff. The Owings family purchased the land in June 1969 as part of a $27,500 deal with T.F. Buck.

Beau Vue Estates

A 5,978-SF home in west Little Rock’s Beau Vue Estates neighborhood rang up a $1.15 million sale.

BJCK Revocable Trust, led by Bryan and Celia Ryscavage, bought the house from Richard Mays Sr. and his wife, Supha.

The deal is backed with a one-year loan of $1.3 million from First National Bank of Paragould.

The Mays family acquired the residence for $999,000 in February 2013 from Ken and Marjorie Burnett.

Land Purchase

A 10.12-acre parcel near the western edge of Little Rock is under new ownership after a $1 million deal.

Denny Road Properties LLC, led by William C. Davis, purchased the land on the south side of the 21509 Denny Road property from DelticPotlatch Real Estate LLC.

The deal is financed with a two-year loan of $825,000 from Simmons Bank.

Potlatch bought the property in February 2018 as part of its $1.2 billion purchase of El Dorado’s Deltic Timber Corp.

Edswood Residence

A 4,538-SF home in the Edswood neighborhood of west Pulaski County drew a $965,000 transaction.

Thomas and Staci Davis acquired the house from Jessica Jones. The deal is funded with a 30-year loan of $815,000 from Morgan Stanley Private Bank of Purchase, New York.

Jones purchased the residence for $672,011 in May 2020 from Earl’s Family Trust, led by Bruce and Susanne Clinton.

Lamarche Place

A 5,827-SF home in west Little Rock’s Lamarche Place neighborhood sold for $890,000.

Stacy and Christine Griffin bought the house from the Kelly E. McKenzie Revocable Trust.

The deal is financed with a 30-year loan of $780,000 from Navy Federal Credit Union of Vienna, Virginia.

The 0.46-acre site was acquired for $79,000 in March 2003 from Kelly and Rick Ward.

West Little Rock Plot

Texas NH Management LLC, an affiliate of Caring Healthcare Group in Brooklyn, New York, paid $1 million for a 1.35-acre commercial site at the southeast corner of St. Vincent Way and LaGrande Drive in west Little Rock.

Seller: Bella Casa LLC, led by Terry Fleming, which purchased the property in September 2019 as part of a $3.7 million deal with PotlatchDeltic Real Estate.