Lowe's Land Draws Deals Totaling $6.1M (Real Deals)


Lowe's Land Draws Deals Totaling $6.1M (Real Deals)

Land for a 113,941-SF Lowe’s store in west Little Rock was assembled in four deals that added up to $6.1 million.

Lowe’s Home Centers LLC of Mooresville, North Carolina, acquired about 17.2 acres at the northwest corner of Kanis and Bowman roads in four transactions with:

• AJMATS-DT AR LLC, led by Stephen LaFrance Jr., 9.94 acres for $3.95 million. The land was bought in January 2004 as part of a $2.5 million deal with Jerry and Juanita Gibson.

• AH Development Inc., led by Bryan Austin and Keith Harper, 7.01 acres for $1.83 million.

The property was purchased for $980,000 in January 2005 from Kanis/Otter Creek Properties Ltd., led by Ralph Bozeman.

• Sam’s Real Estate Business Trust of Bentonville, a 0.57-acre parcel for $250,000.

The land was acquired in December 1992 as part of a $6.7 million deal with Aronov Realty Inc. of Montgomery, Alabama.

• HCB LLLP, led by Henry Browne, a 0.18-acre parcel for $63,944. The land was bought in July 2007 as part of a $2.4 million deal with Stephen L. LaFrance Pharmacy Inc.

Municipal Buy
A 48,062-SF office building in downtown Little Rock tipped the scales at $3.35 million.

The city of Little Rock purchased the Cromwell Building at 101 Spring St. from No. 1 Spring Street Building Ltd., led by Charles Penix.

The 0.4-acre development previously was tied to a December 2015 mortgage of $2 million held by IberiaBank of Lafayette, Louisiana.

The limited partnership acquired the location for $149,000 in January 1974 from the Housing Authority of Little Rock.

Artisan Acquisition
An undeveloped 2.1-acre commercial site in downtown Little Rock weighed in at $1.7 million.

Artisan On Collins LLC, led by David Thompson, bought the one-block property bound by Collins Street on the east, Fourth Street on the north, Rector Street on the west and East Capitol Avenue on the south.

The seller is Industrial Realty Co., led by Sarah Brown Hopkins.

The deal is backed with an $854,440 loan from Gateway Bank of Rison.

The property was assembled by the Brown family and their Arkansas Foundry Co. in three deals with Theo and Annette Sanders and Grace Wentworth, $3,500 in November 1944; and the Missouri Pacific Railroad Co. of St. Louis, $16,100 in March 1952 and $50,000 in December 1958.

Innovation Purchase
West Little Rock property is under new ownership after buys totaling $1.02 million. Innovation Valley LLC, led by Bruce Murphy, acquired the land on the western end of Wilson Lake from:

• Rocket Properties LLC, led by Lisenne Rockefeller and Ron Tyne, 10.89 acres for $750,000.

The limited liability company provided a two-year loan of $500,000 to finance the deal.

• Elgor Inc., led by Pattye Wilson Lassiter, 2.83 acres for $275,000. Elgor provided a two-year loan of $175,000 to fund the deal.

Rocket Properties purchased its land in April 2005 as part of a $2.6 million deal with Elgor Inc.

The Wilson family, led by Eleanor and Gordon Wilson, bought the other property in November 1946 as part of a $2,500 transaction with Royce and Alma James.

Retail Sale
A 10,730-SF retail project in Little Rock changed hands in a $775,000 deal.

AAR 2016 LLC, led by Baljinder and Laddie Singh, purchased the EZ Food Mart Center at 4401-4421 12th St. from Chong and Une Kim.

The deal is backed with a five-year loan of $628,946 from Regions Bank of Birmingham, Alabama.

The 0.84-acre development was acquired for $485,000 in November 2010 from Jung Rhee.

Motel Transaction
A 47-room motel in Little Rock rang up a $760,000 sale.

Mody Hospitality Inc., led by Ramesh and Kunai Mody, bought the Hometown Return project at 5301 Asher Ave. from Ritz Motel Inc., led by Jitendrakumar Patel.

The deal is financed with a 15-year loan of $560,000 from Ritz Motel.

The 1.77-acre development was purchased for an undisclosed sum in October 1968 from J.S. Farms Inc., led by James Sawyer.

Liquor Deal
A liquor store near Maumelle drew a $310,000 transaction.

Satguru LLC, led by Jagdav Singh and Baljit Kaur, acquired Sody’s Liquor at 26607 Hwy. 365 from Garry and Peggy Glover.

The deal is funded with a $200,000 loan from Centennial Bank of Conway and a $57,666 loan from the Glovers.

The Glover family bought the 0.14-acre property in March 1985 as part of a $305,000 deal with Harlan Thornton Jr. and his wife, Rosemond.

Downtown Flip
A 2,889-SF commercial project in downtown Little Rock was flipped for $250,000.

Margaret Roy purchased the McGehee Piano location at 1608 Main St. from Brett Pitts and Kevin Walsh.

The 0.09-acre development was acquired for $209,000 in September from Tomcat Holdings LLC, led by Spencer Elman and Steven Curtis Wait.

Office Property
Four office condos in west Little Rock sold for $205,000.

Thomas and Lori Schneider bought the units at 2024 Arkansas Valley Drive from TJS Properties LLC, led by Timothy Ridge, James Scruggs and Stephen Milliken.

The deal is backed with a five-year loan of $164,000 from Simmons Bank of Pine Bluff.

TJS purchased the office space for $220,000 in August 2005 from Bob and Lorraine Roberts.

Hickory Pointe House
A 5,074-SF home in west Little Rock’s Hickory Pointe neighborhood is under new ownership after a $620,000 transaction.

Clinton Fuller III and his wife, Susan, acquired the house from Conkin Enterprises Inc., led by Jeanette Flemister.

The deal is financed with a one-year loan of $500,000 from One Bank & Trust of Little Rock.

Conkin bought the property for $500,000 in September 2010 from the Robert B. May Revocable Living Trust.