NLR Warehouse Draws $2.9 Million Transaction (Real Deals)


NLR Warehouse Draws $2.9 Million Transaction (Real Deals)
New ownership has visited the warehouse project at 1316 North Hills Blvd. in North Little Rock after a nearly $3 million transaction.  (Jason Burt)

A 57,705-SF warehouse in North Little Rock tipped the scales at $2.91 million.

MEBFI North Hills LLC, led by George Dunklin Jr., and Lighthouse Investments LLC, led by Edward Dickey, bought the project at 1316 North Hills Blvd. in a 98-2 split.

The sellers are K&D Huchingson Ltd., led by Kevin and Dianna Huchingson; PAW Enterprises LLC, led by Matthew R. Jones; TOCS Investments LLC, led by Dr. Scott Schlesinger; and LAF 1316 LLC, led by Jason LaFrance.

The 4.63-acre development previously was linked with a December 2012 mortgage of $1.5 million held by First Security Bank of Searcy.

Back when Gene Cauley was part of the ownership equation, the property was acquired for $2.02 million in May 2008. The seller was Gregory Street Properties Inc., an affiliate of Park National Bank of Oak Park, Ill.

The bank entered the ownership picture in March 2008 when the project was forfeited in lieu of foreclosure by Central LLC, led by Dickson Flake.

Cottage Industry

A 1.55-acre commercial redevelopment is in motion after a $1.03 million land deal.

EVC Little Rock LLC of Topeka, Kansas, purchased the former restaurant property at 9210 N. Rodney Parham Road from Parks Land Co. LLLP, led by Donald Parks.

Construction of a Natural Grocers by Vitamin Cottage project is backed with a $3.85 million loan from Fidelity State Bank & Trust of Topeka, Kansas.

Parks bought the land for $170,000

in November 1976 from John Toney Jr. and his wife, Beverly; John Toney Sr. and his wife, Mary; Wallace and Jama Fowler; and Don and Ellen Edmonson.

Medical Land

A 2.11-acre commercial site in North Little Rock rang up a $737,104 transaction.

DBO Properties LLC, led by Dr. Scott Dinehart, acquired the property at the northwest corner of Smokey Lane and Stockton Drive. The seller is Woodcrest Co. LLP, led by James P. Matthews.

The land was part of the 400-acre Springhill Farm the Matthews family bought in August 1959. John and Martha Matthews purchased it from Fred and Katherine Watkins for $250,000.

Future Hotel Site

An acre of parking in downtown Little Rock is under new ownership after a $699,000 deal.

Vibrant Hospitality LLC, led by Feroz Patel, bought the parking lots at the southwest corner of Sixth and Cumberland streets and on the east side of Scott between Sixth and Seventh streets.

The sellers are the Margaret Cook Thaxton Revocable Trust and Joann Edwards.

The Cook family assembled the property as part of five transactions with Elizabeth Bonner in May 1939; J.D. and Hettie Walthour and Leon and Marguerite Flake in 1940; Columbus Club Association Inc. in September 1949; Marvin and Leaine Cohen in February 1956; and the Glenn Johnson Sr. estate in February 1969.

Parking Property

A 0.66-acre parking lot in downtown Little Rock changed hands in a $205,000 sale.

201 S Izard LLC, led by John Chandler, purchased a property adjoining the south side of its namesake property from the Gregory L. Hatcher Revocable Living Trust.

The deal is financed with a five-year loan of $174,250 from IberiaBank of Lafayette, Louisiana.

The parking lot previously helped secure an October 2012 mortgage of $450,000 held by Centennial Bank of Conway.

The trust bought the property three years ago as part of a $480,000 deal with First State Bank of Russellville.

River Club House

A 5,400-SF home in the River Club neighborhood east of Pinnacle Mountain State Park drew an $850,000 transaction.

Kristi and Michael Crum acquired the house from Rick Angel. The deal is funded with a 30-year loan of $750,000 from Bank of England.

The residence previously was tied to a December 2006 mortgage of $840,000 from Regions Bank of Birmingham, Alabama.

The 5-acre location was purchased for $113,000 in April 2002 from Tim and Melissa Nesterenko.

Cliffewood Home

A 3,220-SF home in Little Rock’s Cliffewood neighborhood sold for $707,500.

David Bumpass and Mary Rude bought the house from Wilson and Stephanie Bynum. The deal is backed with an 8.5-year loan of $650,000 from Regions Bank.

The residence previously was linked with a September 2011 mortgage of $417,000 held by One Bank & Trust of Little Rock and a November 2011 mortgage of $150,000 held by IberiaBank.

The Bynums acquired the property for $634,800 in November 2005 from Nikolai and Leslie Fisken.

Arbors Abode

A 4,000-SF home in The Arbors neighborhood of west Little Rock’s Chenal Valley development rang up a $645,000 deal.

Barry and Mary Ledbetter purchased the house from the Erb Living Trust, led by David and Louise Erb.

The deal is financed with a 10-year loan of $494,250 from IberiaBank.

The trust bought the property for $600,000 in February 2014 from Donny and Christi Slayton.

Wildwood Purchase

A 2,986-SF home in west Little Rock is under new ownership after a $615,000 sale.

Wildwood Partners LLC, led by Graham Smith, acquired the 5-acre spread from the Sylvia Galloway Butler Trust.

The property is now helping secure a two-year loan of $1.4 million from First Security Bank. The property previously was tied to a May 2011 mortgage of $105,000 held by Arvest Bank of Fayetteville.

The land was purchased for $45,000 in April 1984 from Charles and Carolyn Heavner.

Avignon Residence

A 4,080-SF home in the Avignon Court neighborhood of west Little Rock’s Chenal Valley development changed hands in a $572,000 transaction.

Henry Wong and Barbara Aufiero bought the house from Gary Duke and Jeffrey Chapman.

The deal is funded with a 30-year loan of $417,000 from Eagle Bank & Trust of Little Rock. The residence previously was linked with a November 2012 mortgage of $312,000 held by Bank of Little Rock Mortgage Corp.

The property was acquired for $450,000 in November 2009 from Joel and Debra Owens.

Woodland’s Edge

A 3,673-SF home in west Little Rock’s Woodland’s Edge neighborhood drew a $521,000 deal.

Stephen and Leslei Rikard purchased the house from Arbor Construction LLC, led by Mike Moran.

The deal is backed with a 30-year loan of $416,800 from One Bank & Trust. The residence previously was tied to a December 2014 mortgage of $404,800 held by Bear State Bank of Little Rock.

The site was bought for $77,000 nine months ago from Rocket Properties LLC, led by Ron Tyne and Lisenne Rockefeller.

300 Third

A 1,861-SF high-rise residence in downtown Little Rock sold for $500,000.

Bobby Malone acquired the condo on the 12th floor at 300 E. Third St. from Gregory Hendrix.

Mosaic Mortgage

A south Little Rock congregation picked up a $2.8 million funding agreement.

Mosaic Church of Central Arkansas obtained the five-year loan from First Security Bank.

The 140,600-SF former Kmart store at 6221 Col. Glenn Road previously was linked with a December 2012 mortgage of $1.5 million held by Arvest Bank.

The church bought the 8.8-acre development for $1.7 million nearly three years ago from Mike and Monica Montgomery.