Red Dot Transaction Fills $2.3M Space (Real Deals)


Red Dot Transaction Fills $2.3M Space (Real Deals)

A 230-unit mini-storage project in Sherwood weighed in at $2.33 million.

Red Dot Storage 155 LLC of Louisville, Colorado, bought the USA Storage project at 4101 E. Kiehl Ave. from Tisdale Properties & Development LLC, led by Tracy Tisdale.

The deal is backed through a $100 million funding agreement with Texas Capital Bank of Richardson.

The 2.31-acre development previously was linked with an April 2013 mortgage of $1.3 million held by Little Rock’s Bank OZK.

Tisdale Properties purchased the 40,750-SF former Harvest Foods grocery store for nearly $1.2 million in April 2013 from BancorpSouth Bank of Tupelo, Miss.

Sherwood Land I

Two adjoining commercial parcels totaling 6.9 acres in Sherwood tipped the scales at $1.1 million.

S. Williams & Associates Residential Construction Inc., led by Steven Williams, acquired the land near the northwest corner of Warden and Lantrip roads from HomeBank of Arkansas in Portland.

The deal is funded with a $1 million loan from HomeBank.

The bank recovered the property when the property was forfeited in lieu of foreclosure in March 2009 by Newman McGee Jr. and his wife, Bonnie.

The land secured a July 2006 mortgage of $850,000, an August 2006 mortgage of $283,000 and a November 2007 mortgage of $75,000 held by HomeBank.

Flea Market Sale

A 2.19-acre commercial development in Sherwood changed hands in a $1.03 million deal.

NLA Country Club CK LLC, an affiliate of Net Lease Alliance of Nashville, Tennessee, purchased the 9,600-SF Country Club Flea Market at 118 Country Club Road and the 578-SF Ray Lusk Plumbing office at 7310 North Hills Blvd.

The sellers are Phyllis Sprague, the namesake revocable trust of Freddie Hudson and the namesake living trust of Doris Hudson.

Redevelopment of the property for a Circle K convenience store is financed with a $3.3 million loan from Renasant Bank of Tupelo, Mississippi.

The Hudson family has owned the property since acquiring it for $16,500 in September 1956 from Glenn and Ruby Durham.

Sherwood Land II

Land for commercial redevelopment in Sherwood was assembled in two deals totaling $835,000.

NLA East Maryland CK LLC, an affiliate of Net Lease Alliance, bought a 0.54-acre parcel at the southeast corner of Highway 107 and Maryland Avenue for $260,000 from Carl and Sharon Duker and a 2.54-acre parcel adjoining to the south from Billy and Linda Morden for $575,000.

Development of a Circle K convenience store at 9324 Hwy. 107 is backed with a three-year loan of $2.9 million from Valley National Bank of Birmingham, Alabama.

The Mordens assembled their property in two transactions: buying a 2.27-acre parcel from the Gaylord M. Northrop Revocable Trust for $325,000 in July 2012 and trading 3.5 acres to Sylvan Hills First Baptist Church for a 0.27-acre parcel in September 2012.

The Duker family has owned its property since purchasing it for an undisclosed sum in December 1947 from Martin and Augustine Liebenguth.

Asher Purchase

A 54,413-SF meat processing plant rang up a $405,000 sale.

4701 Asher Avenue LLC of St. Louis acquired the Odom’s Sausage plant at 4701 Asher Ave. from Camino Real Foods Inc. of Vernon, California.

The 20.14-acre development is now securing a 28-month loan of $2 million from Tracy Commerce Center LLC of Ladue, Missouri.

Camino bought the property for $500,000 in January 2014 from ConAgra Foods Packaged Foods LLC of Omaha, Nebraska.

Arbors Abode

A 6,765-SF home in The Arbors neighborhood of west Little Rock’s Chenal Valley development is under new ownership after a $975,000 deal.

James and Ann Gibbs purchased the house from Chad and Lindsay Wilkerson.

The deal is backed with a 30-year loan of $780,000 from Bank of America in Charlotte, North Carolina.

The Wilkersons acquired the property for $230,000 in April 2014 from M.J. Herr Inc., led by Mary Jane Herr.

Country Club House

A 3,019-SF home near the Country Club of Little Rock sold for $840,000.

David Sokolow and Marta Berger bought the house from the Jennifer Brook Bricker Revocable Trust.

The deal is funded with a 30-year loan of $672,000 from Riverside Mortgage Co. of Little Rock. The residence previously was tied to a March 2017 mortgage of $424,100 held by Bank of Little Rock Mortgage Corp.

The property was purchased for $230,000 in May 2015 from Helen Hickey.

Hillcrest Home

A 3,621-SF home in Little Rock’s Hillcrest neighborhood drew an $800,000 transaction.

Harrison and Elizabeth Reed acquired the house from M3 Property Group LLC, led by Jill Matthews.

The deal is financed with a 30-year loan of $640,000 from IberiaBank of Lafayette, Louisiana.

The residence previously was linked with a May 2012 mortgage of $665,233 held by Riverside Bank of Sparkman.

M3 bought the property for $725,000 more than seven years ago from Barbara Gay.

Ensbury Place I

A 4,670-SF home in the Ensbury Place neighborhood of west Little Rock’s Chenal Valley development changed hands in a $729,000 deal.

Arabinda Choudhary and Bhawna Jha purchased the house from MJ Innovative Builders Corp., led by Jamal Solaimanian.

The deal is backed with a 30-year loan of $583,200 from Gateway Mortgage Group of Jenks, Oklahoma.

The residence previously was tied to a June 2018 mortgage of $480,000 held by Centennial Bank of Conway.

The location was acquired for $88,000 in December 2017 from Deltic Timber Corp. of El Dorado.

Chenal Downs

A 4,121-SF home in west Little Rock’s Chenal Downs neighborhood rang up a $660,000 sale.

Peter Treadwell Jr. and Laura Nutt bought the house from the Holly L. & Joe M. Johnson Revocable Trust.

The deal is funded with a 30-year loan of $528,000 from Regions Bank of Birmingham, Alabama.

The 5-acre site was purchased for $160,000 in August 2008 from Richard and Nancy Parker.

Ensbury Place II

A 3,897-SF home in the Ensbury Place neighborhood is under new ownership after a $575,000 deal. Ashish Tikotekar and Madhura Borikar acquired the house from Tamara and Steven Bradford.

The deal is financed with a 30-year loan of $517,500 from United Wholesale Mortgage of Pontiac, Michigan.

The residence previously was linked with a May 2017 mortgage of $424,100 held by Simmons Bank of Pine Bluff.

The Bradfords bought the property for $545,000 27 months ago from B&D Homes Inc., led by Ben Wiedower.

Heights House

A 2,676-SF home in the Heights area of Little Rock sold for $536,200.

Adrian Ryan, Amy Parker and Holly Ryan purchased the house from Cammack Investments LLC 2206 Cleveland, led by Dale Briggs.

The deal is backed with a 15-year loan of $421,600 from Wells Fargo Bank

of Sioux Falls, South Dakota. The residence previously was tied to an August 2018 mortgage of $453,970 held by Southern Bancorp Bank of Arkadelphia.

The property was acquired for $176,500 in September 2017 from HBH Builders Inc., led by Howard Holmes.