Jacksonville Mobile Home Park Draws $2.6M Sale (Real Deals)

Jacksonville Mobile Home Park Draws $2.6M Sale (Real Deals)
Parcel lines are approximate and shown for illustration purposes only. (Google Earth / PAgis)

The sale of a Jacksonville mobile home park weighed in at $2.6 million.

A group of out-of-state investors acquired Pine Meadow Mobile Home Park at 3000 John Harden Drive from Mas Verde Mobile Home Estates Inc., led by Bryan Keathley.

The investors include Little Rock Communities LLC of Beaufort, South Carolina, and two Santa Barbara, California, entities: 25 West LLC and Kirk Avenue Ltd.

The Keathley family assembled the 26.53-acre site as part of deals totaling more than $16,000 with E.G. and Lena Madden in April 1958, O.D. and Iva Roberts in March 1962, Robert and Katie Latta in September 1962 and Glenn and June Mashburn in August 1964.

Penzel Purchase
A 36-unit apartment project in downtown Little Rock tipped the scales at $1.02 million.

Penzel Place Apartments LLC, led by Letitia Jane East, sold its namesake project at 518 E. Seventh St. to Judy Brown Enterprises LLC.

The deal is financed with a 20-year loan of $816,000 from One Bank & Trust of Little Rock.

The 0.52-acre development previously was tied to an August 2008 mortgage of $760,000 held by Delta Trust & Bank of Little Rock.

The property was acquired for $950,000 more than eight years ago from Penzel Place Partnership, led by Gloria Venable, Jack Grundfest and Sam Strauss Jr.

Downtown Deal
An acre of parking in downtown Little Rock is under new ownership after a $900,000 sale.

Elliot Bay Trading Co. LLC, led by Jimmy Moses, purchased 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 seller is Vibrant Hospitality LLC, led by Feroz Patel. The deal is backed with a one-year loan of $765,000 from First Security Bank of Searcy.

The property was bought for $699,000 in July 2015 from the Margaret Cook Thaxton Revocable Trust and Joann Edwards.

1620 Sale
The 1620 Savoy restaurant in west Little Rock changed hands in an $850,000 deal.

Petit & Keet LLC, led by James H. Keet and James T. Keet, acquired the 5,700-SF eatery at 1620 Market St. The seller is RH Cuisine LLC, led by Rush Harding III.

The deal is funded with a five-year loan of $850,000 from Relyance Bank of Pine Bluff.

The 0.44-acre development previously was linked with a May 2013 mortgage of $699,000 held by Arvest Bank of Fayetteville.

RH Cuisine purchased the property for $665,000 in April 2013 from the namesake revocable trusts of Frank and Mary Hiegel.

65th Center
A 49,600-SF retail project in south Little Rock rang up a $700,000 sale.

Kim Properties LLC, led by Grace Kim, bought the 5303 W. 65th St. project. The seller is 65th Center Inc., led by Patrick Corder.

The 4.39-acre location was acquired for $85,000 in November 1965 from Bass Enterprises Inc., led by Ben Bass.

Office-Warehouse Buy
A 13,882-SF office-warehouse in Maumelle drew a $638,000 transaction.

601 Carnahan LLC, an affiliate of Little Rock’s Flake & Kelley Commercial, purchased the 601 Carnahan Drive project.

The seller is Warehouse Properties LLC, led by James Dunlap. The 3.39-acre development was bought for $714,000 in August 1999 from North River Land Group LLC, led by Charles Harper.

Laundry Transaction
A 1,863-SF laundromat in downtown Little Rock sold for $500,000.

Matt Foster Investments LLC acquired the Miracle Wash project at 1424 Main St. from Grif-Co LLC, led by Keith Griffin.

The deal is financed with one-year loans of $350,000 from the Campbell Law Firm 401(k) Plan in Little Rock and $200,000 from Mark and Cheryl Nichols.

The 0.47-acre development previously was tied to a November 2008 mortgage of $330,422 held by Little Rock’s Bank of the Ozarks. Grif-Co purchased the property for $329,670 in a November 2008 foreclosure sale.

Jacksonville Ground
Ownership of a 1.46-acre commercial site in Jacksonville was consolidated in a $267,000 deal.

Tommy J. Lasiter Family Ltd. bought the land near the northwest corner of John Harden Drive and Gregory Street from the Irrevocable Trust of Doyle W. Rogers Sr. & Josephine Raye Rogers.

The trust held a two-thirds stake in the property. The deal is backed with a one-year loan of $267,419 from Pamela Ann Lasiter.

The property was acquired in July 2007 for $554,000 from AR Restaurant Development Corp., led by Sharon Hunter.

Edgehill Manor
A 6,844-SF home in Little Rock’s Edgehill neighborhood tipped the scales at $2.67 million.

Mace Properties LLC, led by Harry Erwin III, purchased the house from Stephen LaFrance Jr. and his wife, Wendy.

The LaFrances bought the property for $1.94 million in July 2007 from Jerry and Sue Maulden.

Cameronwood House
A 3,975-SF home in the Cameronwood neighborhood of west Pulaski County changed hands in a $650,000 deal. Jay and Stephanie Southerland acquired the 4.1-acre spread from James Cherry Jr. and his wife, Kim.

The deal is funded with a one-year loan of $520,000 from Bank of Little Rock.

The Cherrys purchased the house for $485,000 in August 2002 from Charles and Rita Benson.

Grandview Residence
A 3,835-SF home in Little Rock’s Grandview neighborhood is under new ownership after a $530,000 transaction.

Leslie and Michael Heister bought the house from Bud Whetstone. The deal is financed with a 30-year loan of $417,000 from Simmons Bank of Pine Bluff.

The residence previously helped secure an August 2015 mortgage of $575,000 held by Bank of the Ozarks.

Whetstone acquired the property for $370,000 in February 1998 from Michael and Charlotte Whitt.

Robinwood Home
A 5,439-SF home in Little Rock’s Robinwood neighborhood rang up a $525,000 sale.

David Choate and Kathryn Kirkpatrick purchased the house from Forty One LLC, led by Wesley Sutton. The deal is backed with a 30-year loan of $417,000 from First Security Bank.

The Sutton family bought the property for $12,000 in February 1967 from Robinwood Inc., led by Clyman Izard Jr.

McKenzie Mortgage
The owners of a 168-unit apartment project in west Pulaski County landed a $13.7 million financial package.

Panther Branch LLC, led by Brandon Huffman, received the 10-year loan from Greystone Servicing Corp. of Warrenton, Virginia.

The nearly 8-acre McKenzie Park development at 14201 Kanis Road previously was linked with an August 2014 mortgage of $14 million held by First Federal Bank of Harrison.

The land was acquired more than two years ago as part of a $1.17 million deal with Alice Perryman.

Landings Funding
A 154-unit complex in west Little Rock was refinanced with a $7.8 million mortgage.

Landings Acquisition LLC, an affiliate of Maxus Properties of North Kansas City, Missouri, obtained the 10-year loan from Northmarq Capital Inc. of Bloomington, Minnesota.

The Landings at Rock Creek at 13200 Chenal Parkway previously was tied to an August 2006 mortgage of $6.25 million held by Northmarq.

Landings Acquisition purchased the 7.39-acre development for $5.4 million in September 2001 from Chicago-based Waterton Rock Ltd., led by Peter Vilim.

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