LR Office Transaction Rings Up $1.6M Sale (Real Deals)


LR Office Transaction Rings Up $1.6M Sale (Real Deals)
Tripp Building at 209 W. Second St. in downtown Little Rock. (Wayne DePriest)

An 8,422-SF office building in downtown Little Rock weighed in at $1.64 million.

Louisiana & Third Properties LLC, led by Haitham Alley, purchased the Tripp Building at 209 W. Second St.

The seller is Cherokee Investments LLC, led by Philip Miron and Lyle Foster.

The deal is financed with a four-month loan of $1.6 million from Simmons Bank of Pine Bluff.

The 0.21-acre development previously was tied to a June 2015 mortgage of $260,000 held by Simmons.

Cherokee Investments bought the project for $616,667 in July 2005. The seller was Advantage Plus LLC, led by Sam Alley.

Midtown Office
A 13,056-SF office building in midtown Little Rock tipped the scales at $1.59 million.

Cherokee Investments LLC acquired the project from its namesake owner: 901 N. University LLC, led by Brock Martin III and Benjamin Lester.

The deal is funded with a seven-year loan of $600,000 from Little Rock’s Bank OZK.

The 1-acre development previously was linked with an August 2018 mortgage of $884,800 held by First Security Bank of Searcy.

The project was purchased eight months ago for $1 million from the American Cancer Society Inc.

Downtown Office
A 14,000-SF office building in downtown Little Rock rang up a $715,000 sale.

Haybar Properties LLC, led by Bryan Hosto, bought back the 815 Main St. project. The seller is Arkansas Community Colleges, led by Steve Cole.

The 0.16-acre development previously was tied to a November 2015 mortgage of $799,000 held by Centennial Bank of Conway.

Hayber Properties sold the project for $715,000 more than three years ago.

On the flip side, Arkansas Community Colleges purchased a 4,754-SF office building in downtown Little Rock from Haybar Properties for $375,000.

The deal for the 721 W. Second St. project is backed with a $365,000 loan from Centennial Bank.

The 0.12-acre development was bought for $270,000 in November 2016 from the Virginia H. Atkinson Revocable Trust.

Office-Warehouse I
A 6,056-SF office-warehouse project in west Little Rock drew a $373,000 transaction.

Angelo’s Place LLC, led by Brigette Wilkerson, acquired the Platinum Drywall project at 800 Towne Oaks Drive.

The seller is BBD LLC, led by Anthony Brooks.

The deal is financed with a 25-year loan of $365,000 from IberiaBank of Lafayette, Louisiana.

The 0.57-acre development previously was linked with a February 2017 mortgage of $249,999 held by Simmons Bank.

BBD purchased the project for $285,000 in December 2009 from Davidson Holding Co., led by Skip Davidson.

Office-Warehouse II
A 4,640-SF office-warehouse in Sherwood sold for $264,000.

J&J Short Enterprises LLC, led by John Short, bought the Roto Rooter project at 950 E. Kiehl Ave. The seller is the Mobbs Family LLC, led by Jackie Snowden and Alice Criner.

The deal is funded with a five-year loan of $223,000 from Centennial Bank.

The 1.23-acre property was acquired for an undisclosed sum in a September 1968 deal with O.J. and Agnes Hooten.

Office-Warehouse III
A 5,402-SF office-warehouse in North Little Rock is under new ownership after a $165,000 deal.

Arkansas Mold & Water Inc., led by Kenneth Mullen, purchased the 914 N. Olive St. project.

The seller is McRae Mortgage & Investment LLC, led by Kenneth McRae.

The deal is backed with a four-year loan of $120,000 from First Security Bank.

McRae Mortgage bought the 0.46-acre development two months ago as part of a $261,250 deal with Darcy Stringham.

Longfellow Residence
A 2,800-SF home near the Country Club of Little Rock weighed in at $3.8 million. Longfellow LLC, led by Warren Stephens, acquired the house from Gregory and Kristen Baber.

The residence previously was tied to a September 2012 mortgage of $397,500 held by First Financial Bank of El Dorado.

The Babers purchased the property for $580,000 in January 1998 from the Clytie Carolyn Allen Trust.

Two Rivers Home
A 2,996-SF home in the Two Rivers Harbor neighborhood of west Pulaski County changed hands in a $740,000 deal.

The Rebecca O. Irico Revocable Trust bought the house from the namesake revocable trust of John and Dolores McNeill. The location on the Arkansas River was acquired for $255,000 in July 2009 from David and Rachel Bickerstaff.

Garrison Abode
A 5,246-SF home along west Pulaski County’s Garrison Road rang up a $675,000 sale. Jan Green purchased the house from the Bobby Glen Wilkerson Revocable Trust.

The 4.9-acre spread previously was linked with a September 2011 mortgage of $760,000 held by Allied Bank of Mulberry. The property was bought more than seven years ago as part of a $950,000 deal with the Gaston Family LLLP, led by James Gaston.

Wellington Dwelling
A 4,283-SF home in west Little Rock’s Villages at Wellington neighborhood drew a $559,000 transaction.

Dana and Stacey Swanson acquired the house from MJ Innovative Builders Corp., led by Jamal Solaimanian.

The deal is financed with a 30-year loan of $419,250 from TIAA Federal Savings Bank of Jacksonville, Florida.

The residence previously was tied to a March 2018 mortgage of $387,200 held by Little Rock’s One Bank & Trust.

The location was purchased for $73,000 in August 2015 from Winrock Enterprises Inc., led by Russ McDonough Jr.

Oaks House
A 3,504-SF home in the Oaks neighborhood of west Little Rock’s Chenal Valley development sold for $505,000.

Reanetta Hunt bought the house from Fairfield Bay Storage Inc., led by H. Chris Christy. The deal is funded with a 15-year loan of $454,500 from Guaranteed Rate Inc. of Chicago.

Fairfield Bay acquired the property for $365,000 in August 2018 from the Paul & Ann Weaver Family Trust.