Chuy's Buy Launches New Project in NLR (Real Deals)

A Chuy’s restaurant project in North Little Rock was put in motion by a $1.14 million land deal.

NLR Palio Partners LLC, led by Clark Knippers, purchased a 1.71-acre piece of a former Saturn dealership at 5105 Warden Road from the Parker family.

Ownership among the sellers was divided primarily between David and Holly Parker, 47 percent; and Richard and Nancy Parker, 47 percent.

The remaining 6 percent was split evenly among the R. Bradley Parker Irrevocable Trust, 1.5 percent; Robert D. Parker Irrevocable Trust, 1.5 percent; Rachel Parker Harding Irrevocable Trust, 1 percent; Jessica Parker Casey Irrevocable Trust, 1 percent; and David Dallas Parker Irrevocable Trust, 1 percent.

The same ownership group sold the remaining 1.3-acre piece for $1.15 million to NLR Palio Partners II LLC, led by Knippers.

The Chuy’s development is financed with a three-year loan of $2.83 million from First State Bank of Russellville. The adjoining land buy was financed with a three-year loan of $900,000.

Crossings Purchase

A 16,200-SF commercial project in North Little Rock is under new ownership after a $907,000 sale.

Crossings Center LLC, led by Mark and Larry Middleton, acquired the 8735 Sheltie Drive project. The seller is James Family Properties LLLP, led by Judith Scherer.

The deal is funded with a $430,000 loan from First Federal Bank of Harrison.

The 1.61-acre site was purchased in July 1983 as part of a $375,000 deal with the Dr. A.T. Gillespie Money Purchase

Plan, William and Sarah Humphries, Catherine Jane Howe Trust, James and Jane Flack and William Daniel Thomas Jr. and his wife, Johnnie.

Mega Acquisition

Two undeveloped parcels in west Little Rock changed hands in an $817,000 transaction.

Mega Group LLC, led by Walter Woodward, bought 2.77 acres on the west side of Kanis Road near the south end of Wellington Hills Road and 3.04 acres at the southwest corner of Kanis Road and Point West Drive.

The seller is 2610 Acres LLC, led by Rick Ferguson. The properties helped secure a May 2013 mortgage of $2.8 million held by One Bank & Trust of Little Rock.

The 2.77-acre property was purchased for $350,000 in November 2003 from Ronald and Diana Hopper.

The 3.04-acre property was acquired for $256,000 in March 2004 from Jack Wills III and his wife, Kristin.

Branch Pruning

A bank branch on a west Little Rock medical campus rang up a $700,000 sale.

Baptist Health purchased the 2,807-SF location in the Medical Towers Building at 9601 Lile Drive from One Bank & Trust.

The bank bought the property as part of a $1.67 million deal with MTR Fund, a limited partnership led by Dr. C. Allen McKnight.

Downtown Manor

A 7,766-SF home in downtown Little Rock sold for $855,000. Mark and Jill Brown acquired the house from Norman Raney and Michael Luter.

The deal is backed with a 30-year loan of $726,750 from One Bank & Trust.

The residence previously was tied to a January 2008 mortgage of $200,000 held by One Bank and an October 2010 mortgage of $415,000 held by Cornerstone Mortgage Inc. of Little Rock.

The property was purchased for $500,000 in January 2003 from John T. Jones.

Overlook Residence

A 5,074-SF home in Little Rock’s Overlook Park neighborhood drew a $595,000 transaction. Kimberly and Gregory Shaffer bought the house from Diane and Mahmut Yasargil.

The deal is financed with a 30-year loan of $600,000 from One Bank & Trust.

The Yasargils acquired the property for $685,000 in December 1996 from Suzanne and Stanley Bradshaw Jr.

St. John’s Abode

A 5,035-SF home in Little Rock’s St. John’s Place neighborhood is under new ownership after a $525,000 sale.

Rodney and Gloria Davis purchased the house from the Ada W. Taillac Revocable Trust. The deal is funded with a 30-year loan of $498,000 from USAA Federal Savings Bank of San Antonio.

The site was bought for $91,700 in September 1996 from St. John’s Place, led by Bishop Andrew J. McDonald and Dickson Flake.