Hospitality Land Visited By $3.4M Transaction (Real Deals)


Hospitality Land Visited By $3.4M Transaction (Real Deals)
(PAgis)

A future hotel location in west Little Rock weighed in at $3.44 million.

Promenade Hospitality LLC, led by Bhu Makan, and James and Terry Barnes bought the 4.86-acre site from Deltic Timber Corp. of El Dorado.

The property is on the west side of Rahling Road between Chenal Parkway and La Grande Drive.

The deal, a 56-44 percent ownership split, included transferring a 2.91-acre site near the southeast corner of La Grande Drive and St. Vincent Way back to Deltic.

The Barneses and Promenade Hospitality acquired that property from Deltic for $2.28 million in December 2016.

Deltic entered the Pulaski County real estate scene in December 1956 by purchasing Sparkman Lumber Co., led by Roy Sturgis.

The land holdings in the county totaled 16,552 acres at the time.

Jacksonville Retail
A 35,912-SF retail center in Jacksonville tipped the scales at $2.14 million.

ATF Greenwood LLC, led by Mark Watson, purchased the Waterford Creek project at 140 Marshall Road and 140 John Harden Drive.

The seller is Hanner Properties-Arkansas LLC of Atlanta, Texas.

The deal is funded with a five-year loan of $2.9 million from Simmons Bank of Pine Bluff.

The 3.9-acre development previously was tied to September 2013 mortgages totaling $2.7 million held by Wells Fargo Bank of Sioux Falls, South Dakota.

The land was assembled in two transactions totaling $415,000.

The sellers were Haskins Family Ltd., led by John Haskins, $350,000 in July 2003; and Jacksonville’s Rebsamen Medical Center Inc., $65,000 in August 2006.

Starbucks Acquisition
Two El Dorado Hills, California, ventures were on either side of a $1.76 million Starbucks transaction in Jacksonville.

Baugh Corp. acquired the 2090 John Harden Drive project from the Lynda White-led 2002 White Family Trust.

The deal is backed with a 10-year loan of $1.2 million from Capstar Bank of Nashville, Tennessee.

The 0.74-acre development previously was linked with a May 2007 mortgage of $905,000 held by Commercial Capital LLC of Richardson, Texas.

The project was purchased for $1.4 million nearly 10 years ago from Excel Jacksonville LLC, led by Clay McDaniel.

Recycled Commercial
A 17,000-SF office-warehouse in North Little Rock rang up a $925,000 sale.

701 Judi Drive LLC, an affiliate of Little Rock’s Baldwin & Shell Construction Co., bought its namesake project from Bank of Little Rock. The 5.5-acre development will house Baldwin & Shell’s industrial division.

The deal is funded with a 10-year loan of $990,000 from Simmons Bank.

Bank of Little Rock recovered the Vouk Transportation project at a $900,000 foreclosure sale in November from 3B.E. Logistics LLC, led by Chris Blakley.

Elemental Purchase
Two buildings in a former industrial complex in North Little Rock changed hands in a $600,000 deal.

Elemental Technologies LLC, led by Carl Rosenbaum, purchased the 104,000-SF and 4,500-SF buildings at 1301 E. Eighth St.

The seller is Clifton Warehouse Leasing LLC, led by Norman Clifton.

This 20.7-acre piece of the Chicopee development was bought in March 2012 by Clifton Warehouse as part of a $1.2 million deal.

The seller was Chicopee Inc. of North Charleston, S.C.

Warehouse Buy
An 8,080-SF warehouse in Little Rock sold for $300,000.

Little Rock Branch LLC, an affiliate of Western Specialty Contractors of St. Louis, acquired the 9921 Mann Road project.

The seller is Shackleford & Shackleford Ventures LLC, led by Kevin and Shawn Shackleford.

The 1.8-acre development previously was tied to a June 2015 mortgage of $96,283 held by Citizens Bank of Batesville.

Shackleford & Shackleford purchased the property from Kevin and Stacy Shackleford at a $129,000 foreclosure sale in January 2012.

Office Sale
A 2,872-SF office building in downtown Little Rock is under new ownership after a $250,000 deal.

Dilks Property Investments LLC, led by Lyndsey Dilks, bought the 1008 Cumberland St. project from Robbie Thomas-Knight and Jay Bradford. Knight carried $230,000 of the sale.

The 0.16-acre development was acquired for $147,500 in June 1986.

The seller was Ten-O-Eight Cumberland, led by George and Joan Campbell, Susan May, Donald Evans and Charles Witsell Jr.

St. John’s Manor
A 5,398-SF home in Little Rock’s St. John’s Place neighborhood drew a $975,000 transaction.

George Makris Jr. and his wife, Debbie, purchased the house from William Banks.

The residence previously was linked with a September 2014 mortgage of $416,000 held by IberiaBank of Lafayette, Louisiana.

Banks bought the property for $833,000 more than three years ago from the Phoebe Darby Norman Revocable Trust.

Walton Heights House
A 5,159-SF home in west Little Rock’s Walton Heights neighborhood rang up a $900,000 sale.

Phani and Arpana Edala acquired the house from James and Betty Bilheimer. The deal is backed with a 10-year loan of $630,000 from Little Rock’s Bank of the Ozarks.

The pre-redeveloped property was purchased for $320,000 in January 2008 from Johnny and Mia Swan.

Shadowlawn Abode
A 2,646-SF home in Little Rock’s Shadowlawn neighborhood changed hands in an $810,000 deal.

Dennis and Lizabeth Jacks bought the house from Jessica Davis. The deal is financed with a six-month loan of $729,000 from Relyance Bank of Pine Bluff.

The residence was acquired for $311,000 in August 1997 from David and Diane Phillips.

Heights Dwelling
A 4,335-SF home in the Heights area of Little Rock sold for $790,000.

Joel and Mimi Whicker purchased the house from Brittany and Robert Smith. The deal is backed with a 30-year loan of $422,100 from Franklin American Mortgage Co. of Franklin, Tennessee.

The residence previously was tied to a December 2016 mortgage of $417,000 held by One Bank & Trust of Little Rock.

The Smiths bought the property for $610,000 in August 2010 from Randal and Jan Hundley.

Highrise Home
A 1,965-SF condo in downtown Little Rock is under new ownership after a $730,000 deal.

The Flesher 2001 Remainder Trust, led by Julia Koch and Mark Humphrey, acquired the space on the 15th Floor of the 300 Third Building from William Beringer and Robert Finkbeiner.

The unit was purchased for $571,000 in October 2007 from 300 Third LLC, led by Jimmy Moses and Rett Tucker.

Maisons Residence
A 3,909-SF home in the Maisons neighborhood of west Little Rock’s Chenal Valley development drew a $500,000 transaction.

Wade and Pamela Meeks bought the house from Majid Saleem and Saima Majid. The deal is funded with a 30-year loan $400,000 from Bank of Little Rock Mortgage Corp.

The residence was acquired for $470,000 in October 2009 from Michael and Kelly Johnson.