MedExpress Double-Dose Buy Tops $4.4 Million (Real Deals)


MedExpress Double-Dose Buy Tops $4.4 Million (Real Deals)
MedExpress at 5326 W. Markham St. in Little Rock. (Jason Burt)

Tandem sales of two MedExpresses checked in at nearly $4.5 million.

National Retail Properties Ltd. of Orlando, Florida, purchased the 5326 W. Markham St. project in midtown Little Rock for $2.62 million and the 5505 John F. Kennedy Blvd. project in North Little Rock for $1.87 million.

The sellers are MECU Markham LLC and MECU JFK LLC, affiliates of American Equity Development Co. of Gaithersburg, Maryland.

The 0.7-acre Little Rock location was bought for $880,000 in September 2015 from Knoebl Properties LLC, led by Susan Martin.

The 0.68-acre North Little Rock location was acquired for $475,000 in July 2015 from Holly Grove Anacoco LLC, led by Danielle Cochran.

Parking Redevelopment

A future site of a yet-to-be-named restaurant tipped the scales at $1.32 million in west Little Rock.

TA Little Rock LLC of Frisco, Texas, and PM Little Rock LLC of Phoenix bought a 0.67-acre piece of the Wal-Mart parking lot near the southwest corner of Chenal Parkway and Bowman Road.

The seller is Wal-Mart Real Estate Business Trust of Bentonville. The deal is financed with a two-year loan of $855,000 from WSC Two Investors LLC of Dallas.

Wal-Mart purchased the property in December 1992 as part of a $6.74 million deal with Aronov Realty Co. of Montgomery, Alabama.

Reel Space

Retail space in west Little Rock’s Cantrell Falls Plaza weighed in at $1.2 million.

Southern Reel LLC, led by Rodney Thomason, acquired a 4,800-SF location for Southern Reel Outfitters at 14908 Cantrell Road.

The seller is 14910 Cantrell LLC, led by Steve Hockersmith.

The deal is backed with a five-year loan of $1.04 million from Malvern National Bank.

The property previously was tied to a June 2014 mortgage of $2.25 million held by the bank.

The location was bought for $1.9 million as part of a 4.3-acre deal with PJM Revocable Trust, led by Phyllis McGrew.

Scott Street Flats

A 0.97-acre proposed apartment site in downtown Little Rock changed hands in a $435,000 sale.

Moses Tucker Investments LLC, led by Jimmy Moses and Rett Tucker, purchased the land at the southeast corner of Ninth and Scott streets. The seller is Little Rock Historic Properties LLC, led by Mark Brown and Jill Judy.

The deal is funded with a six-month loan of $382,500 from BancorpSouth Bank of Tupelo, Mississippi.

The property previously was linked with an August 2013 mortgage of $108,750 held by Central Bank of Little Rock.

The parcel was assembled more than two years ago in three transactions totaling $308,000. The sellers were Hood & Co., led by Tony Vernich, $145,000; the Greg L. Hatcher Revocable Living Trust, $90,000; and Scottish Rite Bodies of the Valley of Little Rock, $73,000.

Eatery Sale I

A 0.58-acre fast-food property in North Little Rock drew a $290,000 transaction. Anders Trust Properties LLC, led by Mike Anders, bought the KFC/Long John Silver’s project at 613 E. Broadway.

The seller is DFM Investments LLC, an affiliate of K-Mac Enterprises of Fort Smith. The property was purchased for $500,000 in February 2000 from Jerry and Betty Haynie.

Office Transaction

A 3,073-SF piece of an office building in downtown Little Rock rang up a $268,500 sale. 415 Main Group LLC, led by Richard Mays Sr., acquired the seventh-floor space in the Centre Place Building at 212 Center St.

The seller is 7th Floor Associates LLC, led by Greg Campbell and Mark Nichols.

7th Floor purchased the property for $105,000 in November 1998 from Michael and Patricia Pyron.

On the flip side, 415 Main sold its 10,000-SF namesake office project for $1.03 million to the Little Rock Technology Park Authority.

The 0.08-acre development previously was tied to a May 2003 mortgage of $315,000 held by Simmons Bank of Pine Bluff. The property was bought in November 1982 for $90,000 from James and Helen Dyke.

Eatery Sale II

A 2,131-SF eatery in North Little Rock is under new ownership after a $188,000 deal. Yafai Investment Inc., led by Mohammad Yafai, purchased the Gino’s Pizzeria & Deli at 2000 Pike Ave.

The seller is Talon Property Management Inc., led by Maurice Mahmoud. Talon provided a $200,000 mortgage to finance the deal.

Talon acquired the 0.27-acre development for $125,000 in April 2010 from Alimento LLC, led by Jerry Sklar.

Office Transaction II

A 6,400-SF building in downtown North Little Rock sold for $168,750.

Alan and Diana New bought the W.H. Koehler Building at 709 Main St. from 7th Street LLC, led by John Chandler.

Construction of the mixed-used project is backed with an eight-year loan of $579,855 from IberiaBank of Lafayette, Louisiana.

7th Street purchased the property in September 2015 as part of a $260,000 deal with the Argenta Community Development Corp., led by Hannah Vogler.

Heights Manor

A 5,986-SF home in Little Rock’s Country Club Heights neighborhood tipped the scales at $1.4 million.

Celia-Anne Martindale acquired the house from George and Deborah Makris.

The Makris family bought the property for $1.7 million in March 2006 from James Gaston.

Club Residence

A 3,305-SF home near the Country Club of Little Rock changed hands in a $675,000 sale.

Robert and Diana Allen purchased the house from Celia-Anne and Howard Martindale.

The deal is financed with a 30-year loan of $540,000 and a $56,800 loan from Centennial Bank of Conway.

The residence was acquired for $663,000 in May 2012 from Robert Douglas Wright III and his wife, Tara.

Courts House

A 4,455-SF home in the Courts neighborhood of west Little Rock’s Chenal Valley development drew a $589,900 transaction.

Gina Tilley bought the house from Chad and Lillian Cooper.

The residence previously was linked with a March 2009 mortgage of $365,000 held by Cartus Home Loans of Mount Laurel, New Jersey.

The Coopers purchased the property for $585,000 in March 2009 from Roger Coburn Jr. and his wife, Julie.

Tire Financing

A 43,444-SF tire center in North Little Rock was used to help secure a $40 million funding agreement.

Duff Real Estate LLC of Columbia, Mississippi, obtained the 10-year loan from First Tennessee Bank of Memphis.

Duff acquired the 6.43-acre former GCR Tire Center development at 10001 Diamond Drive for $1.52 million in July 2014 from I-40 Properties LLC, led by H.L. Hembree IV.

Clean Funding

The owner of a 6,398-SF retail project in west Little Rock landed a $2 million financial package.

P&H Investments LLC, led by John Perry and Robert Hester, received the 45-month loan from First Community Bank of Batesville.

P&H bought the 0.74-acre Chenal Laundry & Dry Cleaners development at 401 S. Bowman Road for $1.12 million in October 2015.

The seller was Leonard R. Ellis Properties Inc.

Big Construction

240 Apartments    $12,820,028
Fountain Bleau West
4216 S. Bowman Road, Little Rock
FBW LLC, North Little Rock

New Annex Building    $3,500,000
Catholic High School
6300 Father Tribou St., Little Rock
Nabholz Construction Corp., Conway

LP Gas Storage & Distribution Center    $1,276,000
9700 Industrial Harbor Drive, Little Rock
NGL Energy Partners, Tulsa