Our House Inc., the Little Rock nonprofit that provides services to people who are homeless or near homeless, has purchased the former home of Knowledge Tree at 825 N. University Ave.
Our House plans to use the site for its resale store and donation center and is aiming for a grand opening in May, Our House Executive Director Ben Goodwin said. “The store will provide affordable shopping, accept community donations and serve as a site for our job training program,” Goodwin said.
The nonprofit will close its store at 8609 W. Markham St. but will continue to operate its store at 4653 JFK Blvd. in North Little Rock, Goodwin said.
Our House paid $975,000 for the 7,644-SF retail space at University Avenue and H Street in midtown Little Rock. The nonprofit bought the 1.01-acre property from K Tree LLC, which acquired the building in 2019 for $580,000 from Schlereth Family LLC, led by John Schlereth.
Rock Street Lofts
An Alabama real estate developer has purchased the 47-unit Rock Street Lofts and an adjoining parking lot along Third Street in downtown Little Rock for $4.69 million.
308 Rock Street LLC of Birmingham, led by John Chapman, bought the 54,540-SF apartment building at 308 and 310 Rock St. as well as a 0.47-acre parking lot.
Chapman is associated with Farris Properties, which leases apartments in the Birmingham suburbs of Homewood, Highland Park, Mountain Brook and Vestavia Hills.
Southstate Bank of Birmingham issued a five-year, $4.2 million mortgage.
Farris did not return messages seeking information about his plans for the Little Rock property.
308 Rock Street bought the downtown space from three owners. Yellow Rock LLC, led by Hank and Stephanie Kelley, sold its interest in the property for $2,816,287; the Kelleys sold another interest in the property for $1,202,000; and B Briggs & Associates LLC, led by Dale Briggs and Tom Baxter, sold its interest for $680,090.
Midtown Hotel
SBS University LLC, incorporated by Bhavin “Bobby” Sharolia, purchased the 117-unit Staybridge Suites hotel near South University Avenue and Interstate 630 for $13.1 million.
The company bought the 95,788-SF, 2.55-acre property at 1020 S. University Ave. from Kalpesh Makan, Bhu Makan and Midtown Hospitality LLC, which includes James Barnes, Brandon Huffman and the Makans.
Midtown Hospitality bought the property for $2 million in 2015, and the hotel was built two years later on the site of the former Brandon House Furniture, according to county records.
Sharolia is part of KNB Management LLC, a Little Rock company whose portfolio includes three hotels in Lonoke, three in North Little Rock and four in Little Rock, including the Residence Inn downtown.
The Makans own Makan Hospitality Management, which lists several hotels among its portfolio, including the Aloft Little Rock West on Rahling Road and The Burgundy Hotel on Merrill Drive.
Apartment Purchase
A Utah real estate firm has purchased the 96-unit Westbridge Apartments at 2123-2124 Labette Manor Drive near John Barrow Road out of foreclosure for $6.19 million.
BDS IV Bond Investments LLC, an affiliate of Bridge Investment Group of Salt Lake City, bought the 7.7-acre property, which had been owned by OBH Westbridge LLC, an affiliate of Omni + Brooks Holdings of Lakewood, New Jersey.
OBH Westbridge had purchased the property, which includes 87,468 SF of residential space, in 2020 for $9.1 million from Republic Westridge Ltd., an affiliate of Republic Funds of Toronto.
GRS Health
GRS Health LLC, incorporated by Grant Lee, bought a 11,882-SF office building at 1000 S. Rodney Parham Road for $1.6 million.
The company bought the 1.52-acre property from the Eugene M Pfeifer III Trust and Eugene and Linda Pfeifer.
The Pfeifers paid $1.66 million in 2007 for the property, which has been home to Studebaker’s night club, Eagle Bank and Intellistaff over the years.
Firestone Sale
PAK-McCarron Investments LLC, led by Paul Andrew Knipscheer, paid $1.03 million for the 5,684-SF Firestone property at 11104 Rodney Parham Road.
The company bought the 0.55-acre property near Arkansas Valley Drive and Rodney Parham from H&M Real Estate Holdings LLC.
Restaurant Purchase
HCO RBM LLC of Fairhope, Alabama, paid $750,000 for a 3,325-SF restaurant property at 11608 Maumelle Blvd. at the intersection with River Pointe Drive in North Little Rock.
The 1.02-acre property had been home to Grandpa’s Catfish, which is moving to a location in Sherwood, according to the restaurant.
An address provided by HCO RBM is associated with Hix Snedeker Cos., a real estate development company based in Daphne, Alabama. The company’s website says it has worked with national business chains, including restaurants and convenience stores.
Ray Hix, the company’s co-founder, did not immediately return a message seeking information on the company’s plans for the site.
Storage Warehouse
Halligan 5 LLC, incorporated by Ian Hawk, paid $595,000 for a 8,596-SF storage warehouse at 5 Production Drive near Interstate 30 in southwest Little Rock.
The company bought the 5.22-acre property from 8117 Distribution Drive LLC, incorporated by Terry Grigsby.
The property includes a 5,776-SF storage warehouse and a 2,280-SF office building.
The previous owners acquired the property for $200,000 in 2014 from Transport International Pool LLC.
Southwest Property
6520 Baseline LLC, formed by Veronica Love, paid $285,000 for a 5,000-SF daycare property at 6520 Baseline Road in southwest Little Rock.
The company bought the .41-acre property from Pinter Properties Inc., led by Steve Pinter, who acquired it for $224,000 in 2003.
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