Gateway Retail Sale Tops $3.5 Million (Real Deals)


A 10,430-SF retail building in west Little Rock weighed in at $3.57 million.

Gateway Village I LLC, led by Tommy Hodges, sold the 6 Bass Pro Drive project, home of David’s Burgers, Hogman’s Gameday Superstore and more.

The new ownership was divided among three limited liability companies managed by the Little Rock office of Colliers International: 300 West Lime (Lakeland), 64.9 percent; Huntsville Investors, 25 percent; and Gateway Village Lot 2, 10.1 percent.

The deal is financed with a seven-year loan of $2.88 million from Greenwoods State Bank of Lake Mills, Wisconsin.

The 1.74-acre development previously was tied to an October 2014 mortgage of $1.7 million held by Malvern National Bank.

The land is part of a four-part assembly of 176 acres in January 2002 deals totaling more than $2.4 million.

The sellers were Canadian Pacific Properties Inc. of Alberta, Calgary, $1.46 million; Otter Creek Development Co. LLC, led by Robert McGinnis and Byron Eiseman, $784,000; Cynthia Keaton, $143,000; and the Jennifer Mae Kochtitzky Trust No. 2, $81,390.

Garment Plant
An 89,516-SF industrial building in east Little Rock tipped the scales at $1.85 million.

Ty Garments USA LLC, an affiliate of Suzhou Industrial Park Tianyuan Garments Co. Ltd. of China, bought the 8909 Fourche Dam Pike project from Joseph T. Ryerson & Son Inc. of Chicago.

The 10-acre location was purchased for $108,900 in September 1973 from the city of Little Rock.

Sonic Sale
A fast-food eatery in west Little Rock rang up a $1.3 million sale.

D.L. Rogers Corp. of North Richland Hills, Texas, acquired the Sonic Drive-In at 11700 Col. Glenn Road.

The seller is LLEJ Lot 1 LLC, led by Leonard Boen. The 1.73-acre location was bought in October 2002 as part of a $1.9 million deal with Rector Phillips Morse’s Birch Brook Inc.

Heights Retail
A 6,900-SF retail center in the Heights area of Little Rock changed hands in a $975,000 transaction.

Three Shops With A Top LLC, led by John Hathaway, Tomas Bohm and Wesley Martin, purchased the 5707-5711 Kavanaugh Blvd. project. The seller is Bee Properties LLC, led by Joseph Beck.

The deal is backed with a five-year loan of $780,000 from IberiaBank of Lafayette, Louisiana.

The Beck family has owned the 0.24-acre development since June 1946.

Riverside Purchase
A 4.54-acre commercial site in west Little Rock sold for $950,000.

Riverside Properties LLC, led by Lisenne Rockefeller, acquired the land at the northwest corner of David O. Dodd Road and Lawson Cut-off.

The seller is Terraforma LLC, led by Doug Meyer and David Bruning.

The property was purchased in January 2004 as part of a $225,000 deal with Mark Riable Ltd. and Susan McNamara Smith.

Office Acquisition
A 2,924-SF office building in west Little Rock drew a $900,000 transaction.

Madison Markham LLC of Issaquah, Washington, bought the 12211 W. Markham St. project from Vandervoort Enterprises LLC, led by Blake Price.

The deal is funded with a four-year loan of $1 million from Washington Trust Bank of Seattle.

Vandervoort Enterprises acquired the property for $615,000 in April 2011 from Centennial Bank of Conway.

Concrete Transactions
Two North Little Rock concrete properties combined for a $535,000 deal.

Razorback Concrete Co. of Wichita, Kansas, purchased the 4000 Crystal Hill Road project for $360,000 and the 2500 Eanes Road project for $175,000.

The seller in both deals is Two LLC, led by Keith Ingram. The projects previously were linked with a November 2013 mortgage of $1.1 million held by Cadence Bank of Memphis.

The 6.35-acre Crystal Hill property was acquired for $186,000 in July 2003 from Peggy and Richard Pryor and Patricia and Arthur Norris.

The 8.97-acre Eanes Road development was bought for $120,000 in March 2010 from Weaver-Bailey Contractors Inc., led by Charles Weaver.

Club House I
A 3,079-SF home near the Country Club of Little Rock is under new ownership after a $709,000 sale.

Lindsay and Nicholas Makris acquired the house from Shawn and Elizabeth Grotte. The residence previously was tied to a December 2009 mortgage of $360,000 held by Regions Bank of Birmingham, Alabama.

The Grottes purchased the property for $475,000 in October 2007 from Jana and John Turner.

Club House II
A 2,962-SF home near the Country Club of Little Rock rang up a $635,000 sale. The Ashley B. Jackson Revocable Trust bought the house from Michael and Marsha Ballard.

The residence previously was linked with a December 2015 mortgage of $300,000 held by BancorpSouth Bank of Tupelo, Mississippi.

The Ballards acquired the location for $160,000 in April 2015 from James Gray.

Woodland’s Home I
A 4,235-SF home in the Woodland’s Edge neighborhood of west Little Rock changed hands in a $599,900 deal.

Karmon and John Johnson purchased the residence from Mark and Kristen Schneider.

The deal is financed with a 30-year loan of $300,000 from the Bank of England. The house previously was tied to a March 2016 mortgage of $440,000 held by Arvest Bank of Fayetteville.

The Schneiders bought the property for $550,000 14 months ago from The Dillon Group Inc., led by Janet Dillon.

Condo Residence
A 1,658-SF high-rise condo in downtown Little Rock sold for $565,000.

Cynthia Fisher acquired the sixth-floor unit in the River Market Tower at 315 Rock St. from Austin and Ann Grimes.

The deal is backed with a 30-year loan of $508,500 from One Bank & Trust of Little Rock. The residence previously was linked with an April 2010 mortgage of $203,500 held by Arkansas Federal Credit Union of Jacksonville.

The Grimes family purchased the property for $513,000 in June 2009 from River Market Tower LLC, led by Jimmy Moses and Rett Tucker.

Prospect Abode
A 2,292-SF home in Little Rock’s Prospect Terrace neighborhood drew a $535,000 transaction.

Dawn Scott bought the house from Robert and Eliza Gaines. The deal is funded with a 30-year loan of $424,100 from Simmons Bank of Pine Bluff.

The residence previously was tied to a March 2013 mortgage of $360,000 held by Delta Trust Mortgage of Little Rock.

The Gaines family acquired the property for $458,000 more than four years ago from Charles Henry Jr. and his wife, Susan.

Woodland’s Home II
A 5,368-SF home in the Woodland’s Edge neighborhood of west Little Rock is under new ownership after a $527,000 sale.

Carl Dyer Sr. and his wife, Marsha, purchased the house from Thomas and Cherel Chilton. The deal is financed with a 30-year loan of $421,000 from the Bank of England.

The residence previously was linked with a January 2012 mortgage of $358,375 held by Summit Bank of Arkadelphia.

The Chiltons bought the property for $519,000 in January 2012 from The Wilson Co., led by Janet Dillon.


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