Riverdale Retail Land Tops $8.3M (Real Deals)


Riverdale Retail Land Tops $8.3M (Real Deals)
Riverdale Shopping Center (Google Earth)

A land-lease tenant in the Riverdale area of Little Rock became an owner after an $8.37 million transaction.

Kappa Realty LLC, led by Chris Robertson, bought the 17.6-acre home of the Riverdale Shopping Center at 2500-2610 Cantrell Road from the Roman Catholic Diocese of Little Rock.

The deal was backed with a 5-year loan of $13.6 million from First Service Bank of Greenbrier. Kappa Realty, which had leased the site from the diocese, purchased the improvements in November 1993 from New York Life Insurance Co. for $4.2 million.

The land was given to the diocese as a gift in September 1939 by Riverside Land Co., led by W.D. Cammack.

Kids First

A 33,601-SF office building in west Little Rock tipped the scales at $5.3 million. Little Rock AR I SGF LLC, an affiliate of Cleveland’s Boyd Watterson Asset Management, purchased the Kids First Building at 333 Executive Court.

The seller is Elman Little Rock Associates LLC, an affiliate of New York’s Elman Investors.

The 2.31-acre project was bought for $4.5 million in August 2015 from KRL Properties LLC, led by Mark Leverett.

Garver Purchase

A 5,008-SF office building in North Little Rock weighed in at $1.18 million.

Garver LLC, led by Brock Hoskins, acquired the former Cantrell Drug Co. project at 7700 Northshore Place. The seller is M&S Property Investments LLC, led by Mike Pierce.

The 1.64-acre development previously was tied to a May 2002 mortgage of $550,000 held by Little Rock’s Bank OZK.

M&S purchased the site for $118,000 in August 2001 from Pfeifer Family Ltd. No. 1, led by Gene Pfeifer.

Restaurant Realty

A 1.75-acre commercial site in Sherwood drew a $390,000 transaction.

Ropers Restaurant Inc., led by Joe Gormley, bought the land on the south side of the Capital Concrete Cutting & Coring facility at 15620 Hwy. 107 from Greg Heslep.

The deal is financed with a 1-year loan of $390,000 from Searcy’s First Security. The site previously helped secure a September 2015 mortgage of $473,124 held by Arvest Bank of Fayetteville.

Heslep acquired the property in December 2005 as part of a $429,000 deal with HDJ Realty LLC, led by Hal, David and Jed Matthews.

Downtown Donation

Commercial property in downtown Little Rock was donated to the Salvation Army. The gift from SMRTDM LLC, led by Julia Taylor, encompassed a half-acre parking lot at the northeast corner of Markham and Cross streets and a 2,500-SF warehouse at 1105 W. Markham St.

The Taylor family assembled the parking lot property in three transactions with Little Rock’s Prudential Build-ing & Loan Association in August 1934; J.N. and Anna Moxley in October 1945; and Martha Moxley LeLaurin and Virginia Moxley Powell in May 1971.

The other property was bought from K.W. and Roseanne Prickett and Curtis and Vera Prickett in May 1949.

Heights Home

A 4,100-SF home in the Heights area of Little Rock rang up a $935,000 sale.

Jared Henderson and Melanie Prince acquired the house from Jeff Fuller Homes LLC. The deal is funded with a 30-year loan of $748,000 from IberiaBank of Lafayette, Louisiana.

The residence previously was linked with a May 2018 mortgage of $640,000 held by Bank OZK.

The original 1,066-SF residence was purchased for $260,000 13 months ago from Maureen Hart.

Rural Residence

A 7,034-SF home in the Joiner Road neighborhood of west Pulaski County changed hands in a $700,000 deal.

Jamison and Rachel Morrisey bought the 5.7-acre spread from Michael and Carla Vick. The deal is backed with a 30-year loan of $450,000 from Arkansas Federal Credit Union of Jacksonville.

The Vicks acquired the location for $80,000 in February 2010 from Gary and Martha Markland.

Ensbury Place

A 4,123-SF home in the Ensbury Place neighborhood of west Little Rock’s Chenal Valley development sold for $628,500. Jonathan Pagan purchased the house from Carol Shields.

The deal is financed with a 30-year loan of $628,500 from SunTrust Bank of Atlanta. The residence previously was tied to a December 2017 mortgage of $468,000 held by First Security Bank.

The land was bought for $94,000 in December 2017 from El Dorado’s Deltic Timber Corp.

Cammack Village

A 4,081-SF home in Cammack Village is under new ownership after a $599,000 deal. Matthew and Hannah Williams acquired the house from Chris Maris Custom Homes & Remodeling LLC.

The deal is funded with a 30-year loan of $599,000 held by IberiaBank.

The residence previously was linked with a March 2019 mortgage of $466,500 held by Stone Bank of Mountain View.

The property was purchased for $155,000 in February 2018 from Bruce Woodward.

Mirabel Court

A 4,233-SF home in the Mirabel Court neighborhood of west Little Rock’s Chenal Valley development drew a $585,000 transaction.

Gregory and Brandi Gruber bought the house from Hess Custom Construction LLC, led by John Hess.

The deal is backed with a 30-year loan of $468,000 from BancorpSouth Bank of Tupelo, Mississippi.

The residence previously was tied to a November 2017 mortgage of $484,000 held by First Security Bank. The site was acquired for $85,000 in December 2015 from Deltic Timber Corp.

Riverview Lot

A nearly 1.2-acre residential lot in west Little Rock’s Riverview Point neighborhood rang up a $550,000 sale.

The namesake joint revocable trust of Matthew and Suzanne McClendon purchased the mountainside property overlooking the Arkansas River from the Jeanne G. Andrews Revocable Trust.

The lot was bought for $150,000 in January 1990 from Michael and Ann Bemis.

PV House

A 4,895-SF home in west Little Rock’s Pleasant Valley neighborhood changed hands in a $541,000 deal. Phillip and Aimee Olinghouse acquired the house from Dream Big Investments LLC, led by Marsha Martin.

The deal is financed with a 30-year loan of $911,580 from Regions Bank of Birmingham, Alabama. The residence previously was linked with a December 2017 mortgage of $500,000 held by Encore Bank of Little Rock.

Dream Big purchased the property at a $478,000 foreclosure sale in September 2017. The previous owner was Albert Smith Sr.

Chardeaux Court

A 3,492-SF home in west Little Rock’s Chardeaux Court neighborhood sold for $530,000.

William and Dian Ayres bought the house from Jeffrey Owens and Ryan Jabar.

The residence was acquired in Jan-uary 2015 from Charles and Tina Boyd for $472,000.

Ranch Abode

A 4,151-SF home in the Ranch neighborhood of west Little Rock is under new ownership after a $525,000 deal.

Minghua and Matthew Miller purchased the house from Jim Pace Homes LLC. The deal is funded with a 30-year loan of $420,000 from Bank of America in Charlotte, North Carolina.

The residence previously was tied to an April 2018 mortgage of $440,000 held by First Security Bank.

The location was bought for $75,000 14 months ago from Pinnacle Ridge Development Co., led by George Petrov.