Chenal Valley Office Land Attracts $3.7M Transaction (Real Deals)


Chenal Valley Office Land Attracts $3.7M Transaction (Real Deals)
(Google Earth)

Undeveloped office property in west Little Rock weighed in at $3.71 million.

Bella Casa LLC, led by Terry Fleming, acquired the 5.87-acre site at the southwest corner of Chenal Parkway and St. Vincent Way. The seller is PotlatchDeltic Real Estate LLC, an affiliate of PotlatchDeltic of Spokane, Washington.

The property adjoins Fleming’s PerfectVision Telecommunications headquarters at 16101 La Grande Drive.

Potlatch entered the ownership picture through its $1.2 billion purchase of El Dorado’s Deltic Timber Corp. last year.

Motel Sale

A 30-room motel in south Little Rock tipped the scales at $1.47 million.

Aminehal LLC, led by Nehalkumar and Ami Patel, bought the Atria Inn & Extended Stay at 6100 S. University Ave. The seller is PR Capitol Group Inc., led by P.R. Patel.

The deal is financed with a 25-year loan of $1.2 million from American Pride Bank of Macon, Georgia.

The 1.11-acre development previously was linked with an August 2010 mortgage of $1.2 million held by HomeBank of Arkansas in Portland.

The location was acquired for $179,000 more than nine years ago from HomeBank.

Commercial Triad

A trio of neighboring commercial buildings in Little Rock rang up a $1.2 million sale.

Liebe Investments LLC, led by Don Houff Jr. and his wife, Linda, purchased a 5,562-SF office building at 7624 Cantrell Road, the 2,760-SF Crazee’s Cafe at 7626 Cantrell Road and the 1,475-SF Mid-South Gunslinger office at 7616 T St.

The seller is J.H.B. Cantrell LLC, led by Jack Burchfield.

Burchfield acquired sole ownership of the combined 0.69-acre development for $153,000 in May 1994 from the estate of Jessie Wayne Harrelson. Burchfield and Harrelson bought the property for $235,000 in October 1981 from George and Jane Miller.

Warehouse Purchase

A 22,800-SF warehouse in North Little Rock changed hands in a $1 million deal.

VBall Ventures LLC, led by Pat Riley Jr., acquired the 4107 Richards Road project. The seller is Ascent Acquisition LLC, an affiliate of Acadia Healthcare Co. of Franklin, Tennessee.

The 1.61-acre development was purchased for $650,000 in June 1997 from Curtis and Darlene Bond.

Multifamily Property

A 24-unit apartment complex in Little Rock drew an $875,000 transaction.

Cozywood Apartments LLC of Toquerville, Utah, sold its namesake project at 2301 Scott St. to Cig-Scott LLC, led by Jeremiah Conrey.

The deal is funded with a four-year loan of $1 million from Central Bank of Little Rock.

The 0.99-acre development previously was tied to an April 2017 mortgage of $592,000 held by the bank.

The property was acquired 31 months ago for $718,000 from Scott Street Apartments LLC, led by Jason Bolden.

Convenient Buy

A 2,993-SF convenience store in North Little Rock sold for $650,000.

A&S Management Services LLC, led by Ala Sayyah and Sayyah Hani, purchased the 300 Lake Lane project. The seller is Lake Lane LLC, led by Askim Awad.

The deal is backed with a three-year loan of $520,000 from Centennial Bank of Conway. The 1.77-acre development previously was linked with a March 2018 mortgage of $140,000 held by World Fuel Services Inc. of Miami and a March 2019 mortgage of $205,661 held by Centennial.

Lake Lane bought the property for $370,000 in November 2017 from Sultan Inc., led by Chodry Cheema.

Wooded Acreage

A 160-acre tract in Little Rock on the Pulaski-Saline County line is under new ownership after a $539,723 transaction.

Ridgewood Timber Corp., led by Derrick Spinks, acquired the land at the northwest corner of Geyer Springs and Green roads from Charles Ashton.

Ashton purchased the property for $165,000 in July 2004 from William and Alicia Love, Judy Gifford, Elizabeth Love Walt and the Edwin F. Gray Revocable Trust.

Downtown Commercial

A 4,484-SF office-warehouse in downtown Little Rock rang up a $375,000 sale.

Teeter Property Group LLC, led by Brian Teeter, bought the 715 Arch St. project. The seller is Brownlee Construction Consultants LLC, led by Porter Brownlee.

The deal is financed with a five-year loan of $300,000 from Citizens Bank of Batesville.

The 0.16-acre development previously was tied to an April 2013 mortgage of $204,000 held by Centennial Bank.

Brownlee Construction acquired the property for $205,000 more than six years ago from IberiaBank of Lafayette, Louisiana.

Legal Space

A 1,840-SF office in North Little Rock changed hands in a $67,000 deal.

The Firm PLLC Attorneys and Counselors at Law, led by S.L. Smith, purchased the space in the 4137 JFK Blvd. project. The seller is Haybar Properties LLC, led by Bryan Hosto.

Haybar bought the property for $60,500 in January 2017 from the Dan and Sandra Cook Living Trust.

Urban Residence

A 5,212-SF home in the Governor’s Mansion neighborhood of downtown Little Rock drew a $730,000 transaction.

Kristi Crum and Blake Casey acquired the house from Cassandra Toro.

The deal is funded with a 30-year loan of $484,350 from Bank of England.

The residence previously was linked with a November 2012 mortgage of $480,000 held by Wells Fargo Bank of Sioux Falls, South Dakota.

Toro purchased the property for $405,000 in May 2010 from Thomas McGowan and Mary McGowan.

Belle Pointe

A 5,953-SF home in west Little Rock’s Belle Pointe neighborhood sold for $705,000.

Nathan and Lindley Kinard bought the house from the C. Patricia Van Duinen Revocable Trust. The deal is backed with a 30-year loan of $599,250 from Eagle Bank & Trust of Little Rock.

The location was acquired for $66,000 in May 1995 from the Carriage Creek Property Owners Improvement District No. 639 of Little Rock.

Ensbury Place

A 4,053-SF home in the Ensbury Place neighborhood of west Little Rock’s Chenal Valley development is under new ownership after a $630,000 deal.

Tommy and Debra Sandifer purchased the house from Arbor Construction LLC, led by Michael Moran. The residence previously was tied to a December 2018 mortgage of $492,000 held by BancorpSouth Bank of Tupelo, Mississippi.

Arbor Construction bought the site for $88,000 in December 2017 from El Dorado’s Deltic Timber Corp.

Heritage Park Circle

A 5,087-SF home in North Little Rock’s Heritage Park Circle neighborhood rang up a $620,000 sale.

Thomas and Susan Sawyer acquired the house from the Janice M. Ostedgaard Revocable Trust.

The deal is financed with a 30-year loan of $480,000 from IberiaBank. The location was purchased for $12,750 in December 1966 from the Matthews Co.

The Courts

A 4,730-SF home in The Courts neighborhood of west Little Rock’s Chenal Valley neighborhood changed hands in a $523,900 transaction.

Joshua and Rebekah Thacker bought the house from Naeem and Naureen Sheikh. The deal is funded with a 30-year loan of $419,120 from Bank of Little Rock Mortgage Corp.

The residence previously was linked with a November 2015 mortgage of $510,150 from Bank of America in Charlotte, North Carolina.

The Sheikhs acquired the property for $537,000 four years ago from Perry and Janet Black.