WLR Dealership Combo Generates $10.3M Sale (Real Deals)


A west Little Rock auto dealership tipped the scales at $7.5 million.

MAG-AR I Colonel Glenn LLC, led by Mark McLarty, purchased the 17,690-SF North Point Nissan facility at 1 Col. Glenn Plaza Drive.

The seller is Asbury Automotive Arkansas LLC, an affiliate of Asbury Automotive Group of Duluth, Georgia.

The deal is backed with a $6.37 million loan from Suntrust Bank of Atlanta.

The 11.58-acre development previously helped secure a September 2013 mortgage of $75 million held by Bank of America in Charlotte, North Carolina.

The property was assembled as part of three deals totaling $4.9 million with Colonel Glenn Development Co., led by Robert Vogel and Gary Lay: $1.17 million in October 2000, $1.13 million in September 2002 and $2.61 million in October 2003.

MAG-AR 6030 Landers Road LLC, another McLarty Auto Group affiliate, bought the 18,130-SF North Point Mazda facility at 6030 Landers Road in North Little Rock for $2.8 million.

The seller is Asbury Automotive Arkansas Dealership Holdings LLC, another affiliate of Asbury Automotive Group.

The deal is financed with a $2.38 million loan from Suntrust Bank. The 1.3-acre development previously helped secure a $100 million funding agreement with Wells Fargo Bank of Sioux Falls, South Dakota.

AAADH acquired the property for $2.5 million in May 2011 from TFM Properties LLC and MHC Partnership, both led by Steve Humphries.

Staybridge Land

The future site of a Staybridge Suites hotel in midtown Little Rock weighed in at $2 million.

Midtown Hospitality LLC, led by Kalpesh and Bhu Makan, James Barnes and Brandon Huffman, bought the 2.69-acre location near the southwest corner of Interstate 630 and University Avenue.

The seller is BH University Development LLC, led by Barnes and Huffman.

Construction is funded with a five-year loan of $11.28 million from Simmons First National Bank of Pine Bluff.

The property previously helped secure a June 2013 mortgage of $3 million from Commercial Bank & Trust of Monticello.

BH University purchased the former Brandon House Furniture for $3 million more than two years ago from MBC Holdings Worldwide LLC, led by Bruce Burrow and Marty Belz.

Kinco Sale

An 11,175-SF office-warehouse in west Little Rock rang up a $1.6 million transaction.

Chenal & Wellington Development LLC, led by Haitham Alley, acquired the former home of Kinco Constructors at 15617 Kanis Road. The seller is Kinnaman Properties Ltd., led by Lellan Kinnaman Jr. and Lellan Kinnaman III.

The deal is backed with an 18-month loan of $1.61 million from Simmons First National Bank.

The 5.53-acre property was bought for $66,800 in July 1978 from Paul and Lois Bell.

NLR Acquisition

A 1.3-acre commercial site in North Little Rock changed hands in a $1.47 million sale.

Patmurphy Properties LLC of Bartlesville, Oklahoma, purchased the land at the northwest corner of Warden Road and Somers Avenue from NLR Palio Partners II LLC of Dallas.

The land previously was tied to a June 2014 mortgage of $900,000 held by First State Bank of Russellville.

The property was acquired for $1.15 million 21 months ago from an ownership 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 Irrevo-cable Trust, 1 percent; and David Dallas Parker Irrevocable Trust, 1 percent.

Residential Acreage

A 38.77-acre tract in west Little Rock is under new ownership after a $775,400 transaction.

Denny Road LLC, led by Graham Smith, bought the residential land on the south side of Denny Road a quarter-mile west of Kanis Road. The seller is Alligator Investments LLC, led by Rush Harding.

The deal is financed with a $1.05 million loan from Bear State Bank of Little Rock. Alligator Investments purchased the property for $450,000 in April 2010 from Pulaski Academy.

Convenient Transaction

A 6,690-SF convenience store in North Little Rock sold for $600,000.

Ebenezer Investment LLC, led by Joseph Park and Sung Kim, acquired the Conoco at 5524 Fairfax Drive from Yong and Maeng Kim.

The deal is funded with a 20-year loan of $480,000 from BancorpSouth Bank of Tupelo, Mississippi.

The 1-acre development previously was linked with a September 2015 mortgage of $540,000 held by Arvest Bank of Fayetteville.

The property was bought for $570,000 in August 2005 from OK Food Mart Inc., led by Ok Hui Johnson.

PC Hardware Buy

A 30,600-SF office-warehouse in North Little Rock drew a $500,000 transaction.

PC Hardware LLC, led by Essa Alley, purchased the 510 E. Fifth St. project. The seller is the Borchert-Pierini-Russenberger Partnership, led by William Russenberger Sr.

The deal is backed with a one-year loan of $500,000 from First Security Bank of Searcy.

The 1.08-acre property was acquired for $260,000 in May 1986 from the Martha B. Bradshaw Trust.

Prospect Residence

A 3,444-SF home in Little Rock’s Prospect Terrace neighborhood changed hands in an $880,000 sale.

Bryan and Kathryn Mullooly bought the house from Julia and Randolph Garcia.

The deal is financed with a 30-year loan of $710,000 from Simmons First National Bank.

The residence previously was tied to a July 2012 mortgage of $345,000 from Simmons.

The Garcias purchased the property for $845,000 more than three years ago from Stephen and Erica D’Addario.

Woodglen House

A 3,174-SF home in Little Rock’s Woodglen Park neighborhood rang up a $555,000 transaction.

Kent Tiller and Jorge Sarmiento acquired the house from Gerald Fason Jr.

The deal is funded with a 30-year loan of $416,999 from Wells Fargo Bank.

The residence previously was linked with a November 2012 mortgage of $260,000 and a February 2013 mortgage of $58,750 held by Summit Bank of Arkadelphia.

Fason bought the property for $70,000 in May 2011 from Farmers Bank & Trust of Magnolia.

Sezanne Abode

A 3,796-SF home in the Sezanne Court neighborhood of west Little Rock’s Chenal Valley development sold for $510,000.

Sudhir and Neelam Joshi purchased the house from James and Melissa Martin.

The deal is backed with a 15-year loan of $408,000 from One Bank & Trust of Little Rock.

The residence previously was tied to a December 2013 mortgage of $295,000 held by IberiaBank Mortgage Co. of Little Rock.

The Martins acquired the site for $75,000 in December 2012.

The seller was Sale Enterprises LLC, led by Chris Sale.

Seven-Digit Construction

82 Units    $4,670,000
Argenta Flats
600-880 Maple St., North Little Rock
Salter Construction Inc., Conway

Family Life Center    $2,200,000
Longley Baptist Church
9900 Geyer Springs Road, Little Rock
Cason & Associates Inc., Little Rock

Vehicle Maintenance    $1,258,000
MEMS Facility
1121 W. Seventh St., Little Rock
Nabholz Construction Corp., Conway