Doggett NLR Purchase Closes at $12.8 Million (Real Deals)

Doggett NLR Purchase Closes at $12.8 Million (Real Deals)
Truck Centers of Arkansas at 11700 Valentine Road in North Little Rock (Google Maps)

The sale of a North Little Rock truck center project tipped the scales at $12.8 million.

Doggett Properties Arkansas LR LLC, an affiliate of Leslie Doggett Industries of Houston, Texas, acquired the 87,531-SF Truck Centers of Arkansas complex at 11700 Valentine Road.

The seller is TRL Properties LLC, led by Todd Havens along with Rick and Larry Vassar.

TRL Properties provided a 10-year mortgage of $10.2 million to finance the deal.

The 16-acre development was tied to an August 2013 mortgage of $3.1 million held by Centennial Bank of Conway.

TRL bought the property for $6.7 million in May 2011 from Mathias Shopping Centers Inc., led by Sam Mathias.

Apartment Acquisition
A 21-unit apartment project in Little Rock weighed in at $1.15 million.

Cedar Hill Manor LLC, led by Josh Malone, sold its namesake apartment project at 24 Oakwood Road to Andre and Angela De Freitas.

The deal is financed with a five-year loan of $977,500 from First Security Bank of Searcy.

The 1.61-acre development previously was linked with a December 2017 mortgage of $652,285 held by Arvest Bank of Fayetteville.

The project was acquired for $930,000 in May 2007 from Tisdale Properties & Development LLC, led by Tracy Tisdale.

Convenient Trio
A trio of 2,400-SF convenience stores changed hands in an $841,465 package deal.

GPM Southeast LLC, an affiliate of GPM Investments of Richmond, Virginia, purchased the projects at 3600 MacArthur Drive in North Little Rock, 11701 W. Markham St. in west Little Rock and 2815 W. 12th St. in Little Rock from E-Z Mart Stores Inc. of Texarkana, Texas.

The properties are now helping secure a $54 million funding agreement with Arko Holdings Ltd. of Tel Aviv, Israel.

The 0.67-acre North Little Rock site and 0.48-acre west Little Rock property were bought for $94,000 each in February 1991 from Romnuf Corp., led by Irwin Reicher.

The 0.7-acre 12th Street location was acquired for $250,000 in March 1999 from Circle K Stores Inc. of Phoenix.

Hotel Land
A future hotel site in west Little Rock rang up a $675,000 sale.

Chi Hotel Group LLC, led by Jacob and Jasen Chi, bought the 3.27-acre location near the northwest corner of Wellington Hills Road and Chenal Parkway.

The seller is Chenal Commercial Partnership, led by Jim Hathaway. The deal is funded with a four-month loan of $675,000 from Little Rock’s Capital Bank.

Investors in CCP include the Morrison Family Partnership, led by James P. Morrison; Dr. David Newbern; the Lyda C. Campbell Revocable Trust; Howard Cockrill Jr.; and Barbara G. Moore.

The partnership, originally operating as CCMN Joint Venture II, bought the property in June 1977 as part of an 81.84-acre deal with John F. Pride totaling $445,000 (12.5 cents per SF).

Dokes Transaction
The former North Little Rock home of Dokes Quality Auto Sales drew a $142,000 transaction.

Harris Trucking & Concrete Construction Inc., led by Tremayne Harris, purchased a 1,200-SF office building and a 2,400-SF service garage at 2500 E. Broadway from Arvest Bank.

The deal is financed with a five-year loan of $92,000 from Little Rock’s Bank of the Ozarks.

Arvest recovered the 1.46-acre development from Jocelyn Dokes in October 2016 at a $167,500 foreclosure sale.

Church Property
A future church site in north Pulaski County sold for $75,000. Jacksonville Christian Fellowship acquired four acres at 5312 General Samuels Road from USARE LLC, led by Felicia Yagos.

The deal is backed with a one-year loan of $100,000 from First Arkansas Bank & Trust of Jacksonville.

The property previously was tied to a September 2017 mortgage of $55,000 held by the bank.

USARE purchased the property from First Arkansas for $55,000 nine months ago.

Arbors Abode
A 4,925-SF home in The Arbors neighborhood of west Little Rock’s Chenal Valley development is under new ownership after a $950,000 deal.

DFT Trust, led by Donald and Mona Thompson, acquired the house from the Lipsey Family Revocable Trust, led by Ralph Lipsey Jr.

The property was purchased for $141,000 in March 2014 from Thomas and Mary Herr.

Arbors Abode II
A 4,199-SF home in The Arbors neighborhood of west Little Rock changed hands in an $865,000 sale Byron and Shelley Rogers bought the house from Edward and Lisa Wright.

The deal is funded with a 30-year loan of $590,000 from Simmons Bank of Pine Bluff.

The residence previously was linked with an October 2012 mortgage of $400,000 held by Summit Bank of Arkadelphia.

The Wrights acquired the location for $100,000 in September 2007 from BOE Acquisition Co., an affiliate of Bank of England.

Scenic Residence
A 3,168-SF home in Little Rock’s Scenic Heights neighborhood drew a $749,500 transaction.

The Julia C. Robinson Revocable Trust purchased the house from the Pappas Family Revocable Living Trust, led by James Pappas.

The deal is financed with a 15-year loan of $562,125 from IberiaBank of Lafayette, Louisiana.

The residence was bought in April 2003 for $580,000 from Philip Deer III and his wife, Lynda.

Rural House
A 4,189-SF home in west Pulaski County rang up a $652,500 sale.

JSB Revocable Trust, led by Jeffrey and Sue Bemberg, acquired the 10-acre spread from Phillip and Holly Judd.

The deal is backed with a 30-year loan of $250,000 from Simmons Bank. The residence previously was tied to an October 2011 mortgage of $355,000 held by Arvest Bank.

The Judds purchased the property for $97,000 in November 2005 from Joe and Janet Canalichio.