Petsmart Property Draws $2.7 Million Transaction (Real Deals)


Petsmart Property Draws $2.7 Million Transaction (Real Deals)
Petsmart-Concentra project at 3470-80 Landers Road in North Little Rock. (Jason Burt)

A 32,800-SF retail project in North Little Rock tipped the scales at $2.7 million.

Arkansas Specialty Partners LLC, led by Dr. James Tucker, bought the Petsmart-Concentra project at 3470-80 Landers Road from the Horwitz-Bradley Revocable Living Trust of Los Angeles.

The deal is financed with a one-year loan of $2.1 million from Arvest Bank of Fayetteville.

The 4.25-acre development previously was tied to a November 2006 mortgage of $2.9 million originated by Hometown Commercial Capital LLC of Burlingame, California.

The property was purchased for $4.25 million nearly 11 years ago from NT Acquisition-Portfolio One LLC of Chicago.

Property Exchange
A 31,589-SF office-warehouse in downtown Little Rock weighed in at $1.5 million as part of a tax-deferred property exchange.

HK Value LLC, led by Bryan Hosto and Hank Kelley, acquired the Ace Glass Construction project at 405 Shall Ave. The seller is Petra Enterprises LLC, led by Newton and Linda Little.

The deal is backed with a five-year loan of $2.7 million from Simmons Bank of Pine Bluff. The 1.04-acre development previously was linked with a June 2017 mortgage of $925,000 held by Regions Bank of Birmingham, Alabama.

The property was assembled in two deals totaling $311,000. The sellers were Nabisco Inc. of East Hanover, New Jersey, $275,000 in December 1995; and Union Pacific Railroad Co. of Omaha, Nebraska, $36,000 in March 2003.

In advance of the sale, the new home of Ace Glass was the centerpiece of a $1.27 million transaction.

3101 Dugan LLC and FAE Little LLC, managed by First American Exchange Co. LLC of Salt Lake City, purchased the 38,000-SF warehouse at 3101 Dugan St. The seller is Ben Davis Properties Management LLC of Little Rock.

The 9.9-acre development previously was tied to a July 2016 mortgage of $925,000 held by Community First Bank of Pea Ridge (Benton County).

The property was bought for $835,000 13 months ago from ABP AR (Little Rock) LLC, an affiliate of Bluelinx Corp. of Atlanta.

Hillcrest Multifamily
A five-unit apartment project in Little Rock’s Hillcrest neighborhood changed hands in a $720,000 deal.

BTC Rentals Two LLC, led by Robert and Laura Smith, purchased the 822 N. Spruce St. project from Donna Barnett.

The deal is funded with a five-year loan of $504,000 from Little Rock’s Bank of the Ozarks.

The 0.23-acre development previously was linked with a December 2013 mortgage of $297,500 held by Delta Trust & Bank of Little Rock.

The property was acquired more than four years ago for $350,000 from Spruce Street Apartments LLC, led by Tom Ferstl.

Elementary Deal
The 42,695-SF future home of a charter school in Little Rock rang up a $440,000 sale.

KLS Leasing LLC, an affiliate of The Walton Family Foundation Inc. in Bentonville, bought the former Mitchell Elementary School at 2410 S. Battery St.

The seller is the Blevins Family Trust, led by Paulette Blevins.

The 2.57-acre property was purchased for $200,000 in April 2008 from the Little Rock School District.

Parking Land
A 0.19-acre parcel in midtown Little Rock drew a $225,000 transaction.

A&A Investments LLC, led by Amir Qureshi and Fariha Shamsi, acquired the parking lot at 124 N. Fillmore St. The seller is Little Rock MRI LLC, led by Ahsan Usman.

The property was bought for $167,500 in December 2014 from the Georganne R. Freasier Revocable Trust.

Tobacco Transaction
A 2,448-SF retail project in Maumelle is under new ownership after a $157,500 foreclosure sale. Tobacco Superstores Inc., led by Allen Cohn, purchased its location at 700 Edgewood Drive.

The 0.44-acre development previously was owned by RWL Investments LLC, led by Ron Lazenby.

The property previously helped secure a May 2015 mortgage held by First Security Bank of Searcy.

The site was acquired for $140,000 in November 2002 from Robert and Debra Rawn.

Condo Sale I
A 3,381-SF high-rise condo in downtown Little Rock weighed in at $1.2 million.

Heartsill Ragon III and his wife, Claudia, bought the 17th-floor unit in the 300 Third project from the Linda LaFrance Revocable Trust.

The deal is financed with a 30-year loan of $424,100 from Bank of England.

The trust purchased the condominium for $1.6 million in December 2013 from Reverse Exchange LLC, led by Craig and Elizabeth Stephens Campbell.

Riverview Residence
A 4,215-SF home in Little Rock’s Riverview Manor neighborhood sold for $675,000. Geoffrey and Katherine Niebaum acquired the house from Richard and Patricia Remke.

The deal is backed with a 30-year loan of $424,100 from Simmons Bank.

The residence previously was tied to a November 2003 mortgage of $322,700 held by Wells Fargo Home Mortgage Inc. of Des Moines, Iowa.

The Remkes bought the property for $465,000 more than 13 years ago from the Heather & Burton Norman Duze Revocable Trust.

Condo Sale II
A 1,832-SF high-rise condo in downtown Little Rock changed hands in a $634,000 deal.

Jim Guy Tucker and his wife, Betty, purchased the 14th-floor unit in the River Market Tower at 315 Rock St. from Ralph and Elizabeth Patterson.

The deal is funded with a 25-year loan of $507,200 from Regions Bank. The residence previously was linked with a November 2014 mortgage of $160,000 held by Regions.

The Pattersons acquired the residence for $625,000 in July 2014 from Finley Vinson Jr. and his wife, Nancy.

Mirabel Dwelling
A 4,063-SF home in the Mirabel Court neighborhood of west Little Rock’s Chenal Valley development rang up a $580,000 sale.

Christopher and Valerie Paul bought the house from Billy Hartness Construction Co. The deal is financed with a 25-year loan of $580,000 from Regions Bank.

The residence previously was tied to an August 2016 mortgage of $470,000 held by Commercial Bank & Trust of Monticello.

The site was purchased for $89,000 in December 2015 from Deltic Timber Corp. of El Dorado.

Rural Home
A 2,992-SF home in west Pulaski County drew a $575,000 transaction.

Donald and Felicia Borin acquired the 11.7-acre spread from David and Debra Fuqua. The deal is backed with a 30-year loan of $424,000 from Bank of England.

The land was bought for $50,000 in April 1994 from James and Mary Sawyer.

Chimney Rock House
A 4,888-SF home in North Little Rock’s Chimney Rock neighborhood is under new ownership after a $500,000 sale.

Parwinder Singh and Baljit Multani purchased the house from Virendar and Neelam Verma.

The deal is funded with a 30-year loan of $385,000 from Centennial Bank of Conway. The residence previously was linked with a March 2017 mortgage of $379,000 held by Simmons Bank.

The Vermas acquired the property for $410,000 in December 1997 from Stanley and Donna Kellar.

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