Tandem transactions in midtown Little Rock introduced new ownership to neighboring medical office buildings.
Little Rock Midtown Ltd., an affiliate of Provident Realty Advisors Inc. of Dallas, sold the 69,734-SF Midtown Medical Park Building at 6119 Midtown Ave. for $17.92 million and the 212,906-SF Doctors Building at 500 S. University Ave. for $16.5 million.
The 4.84-acre Midtown Medical development was bought by Welltower OM Group LLC, an affiliate of its namesake publicly traded real estate investment trust devoted to health care-related properties and headquartered in Toledo, Ohio.
Midtown Doctors Building LLC purchased its namesake 9.21-acre development backed with a five-year loan of $14.7 million from Centennial Bank of Conway.
The limited liability company’s investors include Brad Henry, Todd Simmons, Marshall Saviers and Brock Gearhart.
The projects previously helped secure October 2016 mortgages of $36.9 million held by Centennial Bank and $5.7 million held by CNS Strategies Ltd. of Dallas.
Little Rock Midtown acquired the properties three years ago as part of a $44 million deal with a pair of New York investment groups, Little Rock Medical Associates Ltd. and Little Rock Medical Associates IV LLC.
Steel Acquisition
A 74,040-SF industrial facility near the Little Rock Port tipped the scales at $2.24 million.
RDF Little Rock LLC of Amarillo, Texas, purchased the O’Neal Steel project at 8100 Frazier Pike.
The seller is OSC Little Rock LLC of Kansas City, Missouri.
The 17.16-acre development previously was tied to an August 2015 mortgage of $1.2 million held by Standard Insurance Co. of Hillsboro, Oregon.
OSC bought the property for $1.6 million in January 2006 from O’Neal Steel Inc. of Birmingham, Alabama.
Dollar Deal
An 8,320-SF Family Dollar in North Little Rock weighed in at $1.26 million.
Spirit Master Funding X LLC, an affiliate of Spirit Realty Capital of Dallas, acquired the 715 E. Broadway store. The seller is ARC FD34PCK001 LLC, an affiliate of American Realty Capital of Jenkintown, Pennsylvania.
The 1.22-acre development was purchased for $1.3 million in October 2014 from WF-FD Master Lease II LLC of Charlotte, North Carolina.
Elbow Room
A 29.65-acre tract in northwest Pulaski County changed hands in a $826,000 transaction.
Peterson Concrete Tank Co., led by Rogers Peterson, bought the land at the northwest corner of MacArthur Drive and Lone Pine Road. The property adjoins its 18010 MacArthur Drive location.
The sellers are Frank Niedzwiedz Jr., along with Leon and Thomas Niedzwiedz.
The Niedzwiedz family acquired the property for $4,000 in September 1948 from Lawson Ellis.
Bar Tab
A Hillcrest restaurant in Little Rock rang up an $800,000 sale.
3003 W Markham OB LLC, led by Chris Tanner, purchased the 7,221-SF Oyster Bar from Virginia Boyd.
The deal is funded with a $743,000 loan from Encore Bank of Little Rock.
The 0.47-acre development at 3003 W. Markham St. previously was linked with a July 2008 mortgage of $241,500 held by Bank of Little Rock.
Boyd bought the property for $165,000 in March 1993 from John and Beverly Swaim and Joanne Maier.
Venue Site
An events center project is in motion after a $550,000 land deal in north Pulaski County.
Medlock Adams & Glaze LLC, led by Brad Medlock, Richard and Rachel Adams and Bryan and Sonja Glaze, acquired the 8.21-acre site at 901 Kellogg Acres Road.
The seller is Medlock Management Co. LLC, led by Medlock.
Construction of The Venue at Oakdale is financed with a one-year loan of $1.1 million from First Arkansas Bank & Trust of Jacksonville.
Medlock Management purchased the land for $180,620 in October 2017 from Village East LLC, led by David Haas.
Repair Purchase
A 3,200-SF auto repair shop in Jacksonville drew a $110,000 transaction.
Kelly Powers bought the Jacksonville Auto Repair project at 1007 Redmond Road from Gary and Sherry Hall.
The Halls acquired the 0.58-acre development for $80,000 in March 1997 from Alvin and Ericka Johnson.
Heights Manor
A 5,368-SF home in the Heights area of Little Rock tipped the scales at $1.3 million.
Samuel and Maeghan Overley purchased the house from Casey and Rodney Rockwell.
The deal is backed with a pair of one-year loans totaling $1.1 million from Riverside Bank of Sparkman.
The residence previously was tied to a December 2017 mortgage of $673,000 held by BOKF of Tulsa.
The Rockewells bought the location for $358,000 in June 2016 from CDM Properties LLC, led by Sharon Tackett
Waterview Land
Three lots in the Waterview Estates neighborhood of west Pulaski County sold for $975,000.
Dr. Thurston Bauer and his wife, Hannah, acquired the property through Hwy 300 Land Holdings LLC from Waterview Estates Phase II LLC, led by Rick Ferguson. The deal is funded with a seven-year loan of $900,000 from First NaturalState Bank of McGehee.
The land was purchased in January 2004 as part of a $2.4 million deal with Soterra LLC of Jackson, Mississippi, an affiliate of Greif Brothers Corp. of Delaware, Ohio.
Westover Hills
A 3,500-SF home in Little Rock’s Westover Hills neighborhood is under new ownership after a $705,000 deal.
William Hughan bought the house from Dwellings Inc., led by Christopher Milligan.
The deal is financed with a 30-year loan of $564,000 from Arvest Bank of Fayetteville. The property previously was linked with a July 2018 mortgage of $538,049 held by Bank of Little Rock.
Dwellings acquired the original residence 16 months ago for $173,000 from the Kathleen & Kristopher Trust, led by David French.
Ensbury Place
A 4,666-SF home in the Ensbury Place neighborhood of west Little Rock’s Chenal Valley neighborhood changed hands in a $667,000 transaction.
Jamey and Kristen Nosler purchased the house from Wiggins Family Real Estate Holdings LLC, led by Joey and Leslie Wiggins.
The deal is backed with a 30-year loan of $340,000 from U.S. Bank of Cincinnati. The residence previously was tied to an April 2019 mortgage of $503,200 held by Armor Bank of Forrest City.
Wiggins Family bought the property for $629,000 seven months ago from Stevens Commercial Contractors Inc., led by Jackie Stevens.
Greystone Manor
A 5,581-SF home in west Pulaski County’s Greystone Manor neighborhood rang up a $624,000 sale.
Tara Johnson and Jonathan Cresci acquired the house from Patrick and Kellie Kircher. The deal is funded with a 30-year loan of $624,000 from Regions Bank of Birmingham, Alabama.
The residence previously was linked with a March 2019 mortgage of $301,657 held by Relyance Bank of Pine Bluff.
The Kirchers purchased the property for $394,000 in May 2010 from Michael and Christine Wolcott.
