Auto Parts Warehouse Hosts $3.6 Million Sale (Real Deals)

Auto Parts Warehouse Hosts $3.6 Million Sale (Real Deals)

A 105,600-SF warehouse in North Little Rock tipped the scales at $3.6 million.

River Mountain Investments LLC, led by Phani Edala, bought the Ozark Automotive Distributors facility at 4350 Stockton Drive.

The seller is Crain Investments Ltd., led by Larry Crain Sr.

The deal is financed with a five-year loan of $2.7 million from Little Rock’s Bank of the Ozarks.

The 5.64-acre site was acquired for $200,000 in March 1991 from The Crestwood Co., led by James P. Matthews.

Royal Restaurant
A Burger King in North Little Rock weighed in at $1.14 million.

LEKS LLC of Cerritos, California, purchased the 2,800-SF eatery at 11941 Maumelle Blvd. from FRP Maumelle LLC, led by Dominic Flis.

The 0.72-acre development previously was tied to a March 2008 mortgage of $1.7 million held by Simmons Bank of Pine Bluff.

FRP Maumelle bought the land more than nine years ago as part of a $1.2 million deal with Lilac LLC, led by Andy Collins.

First Assembly Buy
A North Little Rock congregation expanded its holdings with the purchase of an adjoining 22,986-SF commercial project for $2.05 million.

First Assembly of God North Little Rock Inc. acquired the former home of Neurorestorative Center of Arkansas at 4500 W. Commercial Drive from the Fausett Joint Revocable Trust, led by Kristen Fausett Haddock.

Other sellers included Bret Fausett, Kristin Fausett Haddock and the Kelly Fausett Ross Revocable Trust.

The deal is backed with a five-year loan of $1.3 million from Regions Bank of Birmingham, Alabama.

The 2.28-acre development was purchased for $1.03 million in January 1996 from Delta Life & Annuity Co. of Memphis.

Woodhaven Purchase
A 49-unit apartment complex in southwest Little Rock changed hands in a $925,000 deal.

Willow Redevelopment LLC, an affiliate of Cross Equities of Addison, Texas, bought Woodhaven Apartments at 7510 Geyer Springs Road from Velocity Commercial Capital LLC of Westlake Village, California.

Velocity recovered the 3.43-acre development from Primecads LLC of Atlanta in June at an $850,000 foreclosure sale. Velocity held an August 2015 mortgage of $941,250.

Elementary Transaction
A closed grade school in Little Rock rang up an $895,000 sale.

Community Health Centers of Arkansas purchased the 69,753-SF Franklin Elementary School at 1701 S. Harrison St. from the Little Rock School District.

The 10-acre property was bought for $8,000 in April 1931 from Florence Fulk et al.

Day Care Deal
A Little Rock day care project drew a $315,000 transaction. A&A Investments LLC, led by Amir Qureshi and Fariha Shamsi, acquired Angels Academy at 5606 W. Markham St.

The seller is Christ Health Primary Care Clinic, led by Nkechi Patricia Ugwah-Moss.

The property was purchased for $75,000 in September 2002 from Richard and Rita Pellegrino.

Rural Sale I
More than 212 acres in southeast Pulaski County sold for $270,000.

Horizon Capital Partners LLLP, led by Ross Whipple, bought the land on the east side of Pennington Bayou along Highway 365 on the northern edge of the Woodson community from David Hoelscher.

Hoelscher acquired the land for $238,000 in December 2005 from La Buena Vida Inc., led by Mike Galester.

Rural Sale II
A nearly 196.6-acre agri tract in east Pulaski County is under new ownership after a $250,249 sale. AN Investments LLC of Memphis purchased the land along the east side of Plum Bayou south of Walter Estes Road, a mile east of Highway 161.

The seller is K&D Huchingson LLLP, led by Kevin Huchingson. The property was bought for $497,425 in November 2015 from James and Susan Alexander.

Office Purchase
A law firm is opening a Little Rock office after a $247,000 deal.

Brent J. Eubanks and Michelle Banks Odom of the Humphries Odum & Eubanks law firm acquired a 2,280-SF office at 1901 Broadway and an adjoining apartment at 415 W. 19th St. The sellers are the Albert T. Hurst Jr. Living Trust and the Connie R. Hurst Living Trust.

The deal is funded with a five-year loan of $212,193 from Relyance Bank of Pine Bluff. The 0.26-acre development previously was linked with a May 2011 mortgage of $195,000 held by One Bank & Trust of Little Rock.

The property was purchased for $135,000 in October 1995 from Financial Marketing Services Inc., led by Pat Snyder.

Industrial Acquisition
A 7,000-SF industrial building in Little Rock changed hands in a $210,000 deal.

The Field Shop Inc., led by Sean Harper, bought the 4607 W. 61st St. project from Yunjun Wang. The 1.22-acre development previously was tied to an August 2009 mortgage of $143,000 from BancorpSouth Bank of Tupelo, Mississippi.

Wang acquired the property for $220,000 in 2009 from Cherokee-Nelson Development Co. Ltd., led by Claude Skelton.

Cornerstone Building
A 4,200-SF building in Sherwood rang up a $191,000 sale. Rogue Investments LLC, led by Christopher Seaton, purchased the 2000 Lantrip Road project from Cornerstone Bible Fellowship. The deal is financed with a five-year loan of $208,000 from Arvest Bank of Fayetteville.

The 0.38-acre development previously was linked with a January 2013 mortgage of $456,275 held by Simmons Bank.

Ownership shifted to the church in a December 2009 transaction of unrecorded value with Richard and Patricia Elimon.

Terminal Land
A 2.39-acre parcel in North Little Rock drew a $180,000 transaction.

HWRT Terminal-N. Little Rock LLC of Alton, Illinois, bought the land adjoining its 2626 Center Airport Road facility from Enterprise TE Products Pipeline Co. LLC of Houston, Texas.

The property was purchased in December 1955 as part of a $103,000 deal with Claud and Gladys Holbert.

Pinnacle Residence
A 5,089-SF residence in Cammack Village’s Pinnacle Point neighborhood sold for $850,000. Lawrence and Ryan O’Malley acquired the house from the James Boliver Conner Revocable Trust.

The deal is backed with a 30-year loan of $850,000 from First Tennessee Bank of Memphis.

The home was bought for $225,000 in February 1985 from Alton Raney.

Prospect House
A 3,116-SF home in Little Rock’s Prospect Terrace neighborhood is under new ownership after an $840,000 deal. Matthew Marks purchased the house from the Roy D. Mellor II Revocable Trust.

The deal is funded with a 15-year loan of $424,100 and a five-year loan of $331,900 from One Bank. The property was acquired for $375,000 in October 1995 from Scott and Joan Ford.

Epernay Abode
A 4,010-SF home in the Epernay Place neighborhood of west Little Rock’s Chenal Valley development changed hands in a $525,000 transaction.

Matthew Burns and his wife, Michelle, bought the house from Woodhaven Homes Inc., led by Jack Wilson.

The deal is financed with a 25-year loan of $495,000 from Regions Bank.The residence previously was encumbered by liens of $12,598 held by Barnett Drywall Inc. of Sherwood and $11,256 held by Shaw Electric Inc. of Mayflower and helped secure a March 2016 funding agreement of $1 million with FBT Bank & Mortgage of Fordyce.

The site was purchased for $51,000 19 months ago from Deltic Timber Corp. of El Dorado.

(Correction: The item on an acquisition by First Assembly of God North Little Rock Inc. was updated with the correct purchase price of $2.05 million. The original reporting also omitted other sellers, which included Bret Fausett, Kristin Fausett Haddock and the Kelly Fausett Ross Revocable Trust.)