The sale of a 24,817-SF office building in Little Rock’s Riverdale area tipped the scales at $2.87 million.
The namesake trusts of Douglas and Peggy Kerin purchased the Winrock Place project at 2222 Cottondale Lane from River’s Edge Development Co. LLC, led by Tom Rystrom.
The deal is funded with a 10-year loan of $821,324 from Little Rock’s Bank of the Ozarks.
The 2.29-acre development previously was tied to a November 2011 mortgage of $1.5 million held by BancorpSouth Bank of Tupelo, Mississippi.
The location was acquired in June 1994 as part of a $300,000 deal with Rogers-Lincoln Inc., led by Preston Butcher.
CVS Puzzle
Land for a CVS Pharmacy in southwest Little Rock was assembled in deals totaling $2.08 million.
CVS 10534 AR LLC of Woonsocket, Rhode Island, assembled the 2.31-acre site at the southwest corner of Geyer Springs and Baseline roads in three transactions.
The sellers were:
- John Perry Trust, $880,000 for the 6,734-SF Advantage Auto Parts store at 8902 Geyer Springs Road.
The trust bought the 0.8-acre prop-erty for $835,000 in April 2003 from Baseline Partners LLC, led by Robert Friesen.
- APS Investment LLC, led by Avtar Momi and Satpal Kamboj, $800,000 for the Exxon Food Mart project at 6001 Baseline Road.
APS acquired the 0.35-acre property for $225,000 in May 2011 from the Jerry Ann Florendo Trust and the Mary Elizabeth Jackson Trust.
- JV Holding Co., led by John Vice II, a 1.16-acre parcel for $400,000.
The property was purchased in May 2010 as part of a $500,000 deal with Baseline Partners.
Office Transaction
A 7,847-SF office building in west Little Rock is under new ownership after a $1 million sale.
AM Ventures Inc., led by Lori McGhee, acquired the Kerr Financial Center at 1429 Merrill Drive. The seller is Lucky Inc., led by Allen Kerr.
The deal is financed with a 10-year loan of $1 million from Merchants & Farmers Bank of Dumas.
The 0.73-acre development previously was linked with a March 2012 mortgage of $1.09 million held by Bank of the Ozarks.
Lucky bought the property for $455,000 in February 1999 from GHB of Little Rock Inc., led by Jacob Bogan.
Warehouse & More
A 10,043-SF warehouse and land in North Little Rock changed hands in an $805,000 transaction.
NSF LLC, led by Richard Akel, purchased the Flooring Liquidators project at 10 Maumelle Curve Court and a neighboring 0.61-acre site from IBS Properties LLC of Baton Rouge.
The deal is backed with a 25-year loan of $754,300 from Regions Bank of Birmingham, Alabama.
The 0.74-acre development and land previously were tied to a March 2010 mortgage of $317,688 held by Whitney Bank of Gulf Port, Mississippi.
IBS acquired the properties for $465,000 in November 2004 from Mid-America Management Associates LLC, led by William Howell.
Multifamily Buy
A 10-unit piece of the Springvale Apartments project in North Little Rock rang up a $685,000 sale.
3200 Myers Street Partners LLC of Riverside, California, bought the 5535 Springvale Road building from Springvale Apartments Building II LLC, led by Matt Chandler.
The deal is funded with a three-year loan of $548,000 from Malvern National Bank.
The 0.71-acre property was purchased for $500,000 in December 2002 from Stephen and Stephanie Deere.
Commercial Land
A 13.75-acre commercial parcel in west Little Rock drew a $625,000 transaction.
Rowan Development LLC, led by Jasen Chi, acquired the land near the northwest corner of Kanis and Cooper Orbit roads.
The sellers are Rayville LLC, led by Earl Peeples; and Malmstrom Family Ltd., led by Patrick and Peggy Malmstrom.
The deal is financed with a one-year loan of $575,000 from Capital Bank of Little Rock.
The property was bought in April 2004 as part of a $460,000 deal with BancorpSouth Bank.
Otter Creek Office
A 6,148-SF office building in west Little Rock sold for $160,000.
Phillips Properties Arkansas LLC of Hanover, Maryland, purchased the 10710 Otter Creek East Blvd. project from Faith Properties LLC, led by Donald Whitfield.
The 0.72-acre development previously was linked with a July 2012 mortgage of $395,000 held by Merchants & Farmers Bank of Dumas.
Faith Properties acquired the location for $60,000 in December 2001 from Otter Creek Development Co. LLC, led by Byron Eiseman and Robert McGinnis.
Palisades Property
A 3,860-SF home in Little Rock’s Palisades neighborhood is under new ownership after a $730,500 transaction.
Edward and Hillary Jackson bought the house from Brendan and Kimberly Moore.
The deal is backed with a 13-year loan of $584,400 from Regions Bank. The residence previously was tied to a February 2011 mortgage of $50,100 held by Metropolitan National Bank of Little Rock.
The Moores purchased the property for $501,000 in February 2004 from the C. Barnett Grace Revocable Trust.
River Ridge Residence
A 4,568-SF home in Little Rock’s River Ridge Pointe neighborhood changed hands in a $620,000 deal.
Larry and Patricia Bates acquired the house from Cheryl Friday and Brenda Jones.
The deal is funded with a 30-year loan of $320,000 from Simmons First National Bank of Pine Bluff. The residence previously was linked with a March 2008 mortgage of $198,300 held by Regions Bank.
The property was bought for $685,000 more than seven years ago from Timothy and Vicki Pickering.
Country Club Home
A 2,952-SF home near the Country Club of Little Rock rang up a $595,000 sale.
Brandon Thornton and Jennifer Scruggs purchased the house from Justin and Kathryn Hunt.
The deal is financed with a 26-year loan of $476,000 from Regions Bank.The residence previously was tied to a December 2012 mortgage of $414,500 held by First Security Bank of Searcy.
The Hunts acquired the property for $545,000 in May 2011 from Hunter and Megan Carpenter.
LaMarche Abode
A 4,498-SF home in the LaMarche neighborhood of west Little Rock’s Chenal Valley development sold for $520,825.
Tadd and Maggie Richert bought the house from the Grady & Lisa Wooten Joint Trust. The deal is funded with a 15-year loan of $416,660 from Simmons First National Bank.
The residence previously was linked with an October 2010 mortgage of $395,000 held by U.S. Bank of Cincinnati.
The Wootens purchased the location for $60,000 in September 1998 from Deltic Timber Corp. of El Dorado.
HD Supply Funding
A 75,740-SF warehouse project in North Little Rock is helping secure a $1.25 billion financial package.
HD Supply Waterworks Ltd. of Atlanta obtained the seven-year credit agreement overseen by Wilmington Trust of Wilmington, Delaware.
The 13-acre Hughes Supply development at 3209 Old Jacksonville Highway also helps secure September 2012 mortgages of $5.6 billion overseen by Bank of America in Charlotte, North Carolina; and $675 million overseen by Wilmington Trust.
The property was purchased for $1.55 million in August 1997 from Shrader Family LLC, led by Ronnie Shrader.
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