Mini-Storage Transaction Surpasses $8.3M Mark (Real Deals)


A 574-unit mini-storage project in midtown Little Rock weighed in at $8.32 million.

First Neck University Avenue LLC, an affiliate of Self-Storage Capital Partners of Philadelphia, bought Too Much Self Storage at 2010 S. University Ave.

The seller is Northgate Mini-storage LLC, led by Marc Yelenich.

The deal is financed with a $6 million loan from Wells Fargo Bank of Sioux Falls, South Dakota.

The 6.61-acre development previously was tied to a June 2004 mortgage of $3 million held by Centennial Bank of Conway and an April 2008 mortgage of $2.9 million held by Ohio National Life Insurance of Cincinnati.

The location was purchased as part of a $681,000 deal in April 2003 from Arthur Connerly III and his wife, Nancy, and James and Martha Milby.

Steakhouse Sale
A 6,321-SF restaurant in west Little Rock tipped the scales at $2.29 million.

Gugar Family No. 2 Ltd. of Bullard, Texas, acquired the Longhorn Steakhouse at 2628 S. Shackleford Road

from Shackleford Crossings Investors LLC, an affiliate of Invesco Real Estate of Dallas.

The 1.91-acre development previously helped secure a December 2015 mortgage of $36.2 million held by Zions Bancorporation of Salt Lake City.

The property was recovered in July 2011 from Clary Development Corp., led by Steve Clary, as part of a $42 million foreclosure sale.

Bell Building
A 370,556-SF office building in downtown Little Rock changed hands in a $1.8 million deal.

Southwestern Bell Telephone Co., a subsidiary of Dallas-based AT&T Inc., sold its namesake 10-story building at 1111 W. Capitol Ave. and adjoining 134-slot parking lot to Valk Properties Two LLC of Rockwall, Texas.

The 2.02-acre property was assembled in a half dozen transactions totaling $742,000.

The sellers were Nan Storthz Rosen-berg, $212,000 in April 1970; Jennie Storthz, $185,000 in October 1969; Sam Storthz Jr. and his wife, Annette, and Lewis and Dorothy Storthz, $185,000 in February 1970; Lewis and Dorothy Storthz, $80,000 in October 1969; Olivia Dicosmo, $50,000 in December 1969; and Ethyl Cameron, $30,000 in December 1969.

Land Acquisition
A 1.45-acre commercial site in west Little Rock rang up a $696,124 sale.

Valen Harris Inc., led by Greg Cunningham, bought the location near the southeast corner of Rahling Road and Chenal Parkway from PotlatchDeltic Real Estate LLC of Little Rock.

The deal is funded with a one-year loan of $513,500 from IberiaBank of Lafayette, Louisiana.

Potlatch Corp. of Spokane, Washington, purchased El Dorado’s Deltic Timber Corp. last year in a $1.2 billion merger.

Office Purchase
A 5,000-SF office building in west Little Rock, drew a $535,000 transaction.

Bethel Holdings LLC, led by John Gathright and William Woodyard, acquired the 15112 Pride Valley Road project. The seller is Corco Investments LLC, led by Boyd Corley, Justin Bennett and Jon Virden.

The deal is backed with a 20-year loan of $545,301 from Smackover State Bank. The 0.72-acre development previously was linked with a June 2017 mortgage of $575,000 held by Bear State Bank of Little Rock.

Corco bought the land for $185,000 in May 2017 from Chenal Storage Center LLC, led by Graham Smith.

Center Transaction
The 21,140-SF Arts Marine & Sports Center in North Little Rock sold for $309,000.

David Murphy purchased the 901 W. 33rd St. project from EES Properties LLC, led by Ronald Eastham.

The 1.95-acre development previously was tied to a March 2007 mortgage of $250,000 originated by Pulaski Bank & Trust of Little Rock.

EES Properties, led by Ronald and Arthur Eastham and Eddie Springer, acquired the project for $275,000 in Sep-tember 1987 from Safeway Stores Inc. of Oakland, California.

Public Works Land
A new home for Sherwood’s public works department is in motion after a $200,000 land deal.

The city of Sherwood bought 21 acres at 9121 Jacksonville-Cato Road from Byron and Marilyn McKimmey and Billy and Linda Morden.

The land was purchased in February 2006 as part of an $8.3 million deal with Metropolitan Land Co., led by Terry Paff.

Woodland Buy
A 17.1-acre residential tract in west Pulaski County tipped the scales at $1.1 million.

Scott and Denise Ford acquired the land adjoining the Epernay Place neighborhood at the south end of Commentry Drive from PotlatchDeltic Real Estate LLC.

The limited liability company is a product of Potlatch Corp. buying Deltic Timber Corp. last year in a $1.2 billion merger.

Hallen Court
A 4,372-SF home in the Hallen Court neighborhood of west Little Rock’s Chenal Valley development is under new ownership after a $720,000 deal.

Anand Venkata and Sisira Yadala purchased the house from Randy James Construction Co.

The deal is financed with a 15-year loan of $453,100 from U.S. Bank of Cincinnati. The residence previously was linked with an October 2017 mortgage of $500,000 held by Arvest Bank of Fayetteville. The location was acquired for $126,000 15 months ago from Deltic Timber Corp.

Kingwood Place
A 2,626-SF home in Little Rock’s Kingwood Place neighborhood changed hands in a $705,000 transaction.

The Richmond Family Revocable Trust bought the house from CBM Appraisals Inc., led by Chris Maris. The residence previously was tied to a September 2018 mortgage of $460,000 held by First Service Bank of Greenbrier.

CBM Appraisals purchased the property for $425,000 four months ago from the Sandra C. Magness Living Trust.

Lamarche Place
A 3,306-SF home in the Lamarche Place neighborhood of west Little Rock’s Chenal Valley development rang up a $534,000 sale.

Aaron Farberg and Jessie Skapik ac-quired the house from Lance and Sherry Burchett.

The deal is funded with a five-year loan of $500,000 from the Pino Revocable Trust, led by Scott and Sheri Dinehart.

The residence previously was linked with a July 2013 mortgage of $417,000 originated by Little Rock’s Metropolitan National Bank.

The Burchetts bought the property for $544,000 more than five years ago from Daniel and Suzanne Wren.

Hillcrest House
A 2,644-SF home in Little Rock’s Hill-crest area drew a $520,000 transaction.

Ryan Harris and Susan Barr purchased the house from Sharla Massey.

The deal is backed with a 30-year loan of $359,800 from U.S. Bank. The property was acquired for $225,000 in February 2018 from Shawn and Tara Freyaldenhoven.

Rural Residence
A 4,048-SF home in west Pulaski County’s Callaghan Creek neighborhood sold for $507,578.

William Green III and his wife, Karen, bought the house from New Water Systems LLC, led by Mark Davis.

The deal is financed with a 15-year loan of $157,578 from Arvest bank. The residence previously was tied to a June 2018 mortgage of $392,000 held by Centennial Bank.

The land was purchased in September 2006 as part of a $380,000 deal with LF&M Properties LLC, led by Larry and Florrye Grant.