Mann Building Attracts $16.5M Buyer (Real Deals)


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A 112,000-SF mixed-used office building in downtown Little Rock weighed in at $16.5 million.

Little Rock AR II SGF II LLC, an affiliate of Cleveland’s Boyd Watterson Asset Management, bought the seven-story Mann Building at 322 Main St.

The seller is Mann Development LLC, led by Jimmy Moses, Rett Tucker, Rog Rogers, Barbara Hoover and Tommy Lasiter.

The 0.34-acre property previously helped secure a July 2012 mortgage of $19.6 million held by Little Rock’s Heartland Renaissance Fund Sub III LLC. That construction loan was tied to the adjoining parking deck and 29,700-SF Mann Annex, which were not part of the Mann Building sale.

Developer Doyle Rogers purchased the combined 1.2-acre property for $850,000 in December 1999 from Argora Properties Ltd. of Dallas, led by Michael Loftis.

Industrial Transaction

A 56,800-SF industrial facility in Jacksonville tipped the scales at $5.97 million.

Ineos Composites US LLC of League City, Texas, acquired the Ashland Performance Materials facility at 1901 and 1920 N. Redmond Road from Ashland LLC of Covington, Kentucky.

The 31.44-acre property was assembled in three deals with Aristech Chemical Corp. of Pittsburgh, $100,000 in April 1995; Alfred Kahn Jr. and his wife, Redith, $144,000 in March 1997; and Rablaco LLC, led by Michael Cory, $520,000 in February 2012.

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Retail Purchase

A 28,344-SF retail center in west Little Rock rang up a $2.38 million sale.

Steve Key Will Greene LLC, led by Stuart Mackey, purchased Pinnacle Valley Plaza at 14710 Cantrell Road. The seller is Doug Brandon Properties Inc., led by Elizabeth Brandon.

The deal is financed with a $1.9 million loan from Arvest Bank of Fayetteville.

The 2.74-acre development previously was linked with a $1.2 million funding agreement with Centennial Bank of Conway.

The project was acquired for $3 million in August 2006 from PV Properties LLC, led by Kevin Huchingson, 60%; and Joe and Katherine Nance and BQFA Properties LLC, led by Dickson Flake, 20% each.

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Standard Acquisition

A 34,082-SF office-warehouse in west Little Rock changed hands in a $1.95 million deal.

Standard Properties LLC, led by David Gulley, bought the N&D Technical Services project at 8717 Stagecoach Road. The seller is Mid Corp Investments LLC, led by Mark Middleton.

Mid Corp provided a five-year loan of $1.7 million to back the transaction.

The 7.24-acre development was purchased for $830,000 18 months ago from Norman and Deborah Barnett.

Spirits Sale

A 4,200-SF liquor store in North Little Rock sold for $850,000.

Boulevard Enterprises LLC, led by Sukhwinder Singh, acquired Boulevard Wine & Spirits at 11905 Maumelle Blvd. The seller is Boulevard Land Co. LLC, led by Andy Collins.

Boulevard Land provided a five-year loan of $845,000 to fund the deal.

Nearly all of the 0.65-acre location was bought for $349,000 in January 2006 from P.R. Page LLC, led by Paul Page.

Industrial Ground

Undeveloped land at the southeast corner of Lindsey and Pratt Remmel roads in the Little Rock Port Industrial Park drew a $200,000 transaction.

PPP Group A LLC sold a 24-acre tract, which extends south to Frazier Pike, to Lindsey Warehouse LLC (66.2%), led by Isaac Smith; Blue Sky Enterprises LLC (27.1%), led by Lewis Gardner; Once LLC (4.2%), led by Dan Andrews; and Burlingame Investments Holdings LLC (2.5%), led by Dr. Lowry Barnes.

The PPP Group investors have included Legacy Properties, led by Lynda Colvert; the Curtis H. Stout Revocable Trust, Edwin B. Cromwell, Gertrude C. Levy Trust, Mildred C. Cooper Trust, Patricia E. Cromwell Trust, T. Ray Cannon, trustee; Jean Remmel Little, the Mary Remmel Wohlleb Trust, the Jared Jennings Lowry Trust, the Joshua Neal Lowry Trust, the Justin Cates Lowry Trust and the Raymond R. & Margarita G. Remmel Revocable Trust.

The property was purchased for more than $85,000 by a Remmel family-led investment group as part of a February 1958 transaction with Dr. Frank Smith and his wife, Abrielia.

Riverbend Abode

A 3,845-SF home in Little Rock’s Riverbend neighborhood is under new ownership after a $900,000 sale.

The Karen J. Kozlowski Revocable Trust bought the house from the Bova Joint Revocable Trust, led by Stephen and Barbara Bova.

The Bovas purchased the property for $199,000 in October 1992 from Virginia Bailey.

Hallen Court

A 4,400-SF home in the Hallen Court neighborhood of west Little Rock’s Chenal Valley development changed hands in a $759,000 transaction.

Carmen McLennon and Joel Walker acquired the house from Randy James Construction Co. The deal is financed with a 30-year loan of $484,000 from Bank of Little Rock Mortgage Corp.

The residence previously was tied to a January 2019 mortgage of $500,000 held by Arvest Bank.

The location was bought for $118,000 10 months ago from PotlatchDeltic Real Estate LLC.

The Maisons

A 5,528-SF home in The Maisons neighborhood of west Little Rock’s Chenal Valley development rang up a $660,000 sale.

Tonmoy and Shreeparna Dasgupta purchased the house from Rongsheng and Ye Olivia Cai.

The deal is backed with a 30-year loan of $484,350 from Simmons Bank of Pine Bluff.

The residence previously was linked with a July 2016 mortgage of $333,000 held by U.S. Bank of Cincinnati.

The property was acquired for $673,000 in June 2013 from William Walker Jr. and his wife, Sharon.

PV Residence I

A 4,746-SF home in west Little Rock’s Pleasant Valley neighborhood drew a $600,000 transaction.

Bryan and Sarah Sanders bought the house from Ben and Kyle Noble.

The deal is funded with a 30-year loan of $480,000 from Centennial Bank.

The residence previously was tied to an August 2019 mortgage of $245,000 held by Farmers & Merchants Bank of Stuttgart.

The Nobles purchased the property for $640,000 in May 2009 from Larry and Janice Walther.

PV Residence II

A 4,845-SF home in west Little Rock’s Pleasant Valley neighborhood sold for $575,000.

John and Danielle Patterson acquired the house from The Legacy Trust, led by Amber Weinzimer.

The deal is financed with a 30-year loan of $460,000 from Farmers Bank & Trust of Magnolia.

The residence was bought for $430,000 in September 2011 from Delores Reynolds.

Maramar Place

A 3,733-SF home in the Maramar Place neighborhood of west Little Rock’s Chenal Valley development is under new ownership after a $515,000 deal.

John and Leah Bowen purchased the house from Donald and Lucinda Phelps.

The deal is backed with a 30-year loan of $252,597 held by Caliber Home Loans Inc. of Coppell, Texas.

The residence previously was linked with a September 2017 mortgage of $349,000 held by BancorpSouth Bank of Tupelo, Mississippi.

The Phelps family acquired the property for $499,000 26 months ago from Chase Pressley.