Maumelle Storage Center Hosts $2.5M Transaction (Real Deals)


Maumelle Storage Center Hosts $2.5M Transaction (Real Deals)
Storage Spot at 98 Commercial Park Court in Maumelle. (Google Maps)

A 287-unit mini-storage project in Maumelle tipped the scales at $2.55 million.

Red Dot Storage 180 LLC of Louisville, Colorado, bought the Storage Spot at 98 Commercial Park Court from Maumelle Storage Center LLC, led by Graham Smith.

The deal is backed with a $200 million funding agreement through Texas Capital Bank of Richardson.

The 3-acre development previously was linked with a December 2016 mortgage of $1 million held by Simmons Bank of Pine Bluff.

The project was acquired for $1.6 million in December 2013 from CAD LLC, led by Donald Spears.

Muswick Property

A 26,808-SF office-warehouse in Little Rock weighed in at $1.33 million.

Muswick Holdings LLC, led by Murad Mandan, purchased the 4000 W. 65th St. project. The seller is Muswick Investments LLC, led by Larry Garland.

The deal is funded with a five-year loan of $1.1 million from Anstaff Bank of Green Forest. The 5.77-acre development previously was tied to a January 2014 mortgage of $1 million held by Simmons Bank.

Muswick Investments bought the property for $1.1 million in January 2012 from S&D Realty Corp., led by Saul Mintz.

Jimmy John’s

A 1,572-SF fast-food eatery in downtown Little Rock rang up a $1.05 million sale.

GH Food Group LR RE LLC of Brookhaven, Georgia, acquired the Jimmy John’s project at 700 Broadway from JJRocksm Holding LLC, led by Dean Miller.

The deal is financed with a seven-year loan of $940,000 from Atlantic Capital Bank of Atlanta.

The 0.48-acre location was assembled for $360,000 in deals with the William Thomas & Carolyn Garrett Revocable Trust, $235,000 in June 2011; and the 1998 Kenneth W. Johnson Revocable Living Trust, $125,000 in December 2011.

Office Transaction

A 4,008-SF office in west Little Rock changed hands in a $673,000 deal.

Gill Family Properties LLC, led by Chad Gill, bought the 17709 Cantrell Road project from Rebecca Rice & Associates LLC.

The deal is backed with a five-year loan of $572,000 from Focus Bank of Charleston, Missouri.

The 0.33-acre development previously was linked with a September 2012 mortgage of $520,000 held by BancorpSouth Bank of Tupelo, Mississippi.

Rebecca Rice acquired the property for $635,000 more than seven years ago from TGG Properties LLC, led by Theodore Grace.

Wash Purchase

A car wash project in southwest Little Rock sold for $525,000.

East End Wash Group LLC, led by James Harkins and Edward Bailey, purchased the Suds Carwash at 8001 Geyer Springs Road. The seller is Sudsy Car Wash LLC, led by Tracy Tisdale.

The deal is funded with a five-year loan of $446,250 from Armor Bank of Forrest City. The 0.52-acre development previously was tied to a July 2012 mortgage of $463,063 from Little Rock’s Bank OZK.

Sudsy Car Wash bought the project for $575,000 more than seven years ago from Simmons Bank of Pine Bluff.

Convenient Transaction

A 2,400-SF convenience store in Little Rock drew a $260,889 transaction.

K Murthy LLC, led by Satnarayan Murthy, acquired the Our Community Market project at 1901 Wright Ave. The seller is Union Investment LLC, led by Wael Karakra.

The deal is financed with a five-year loan of $280,000 from Evolve Bank & Trust of West Memphis. The 0.42-acre development previously was linked with a November 2006 mortgage of $245,000 held by Downen Rental Properties Inc., led by Nancy Downen.

The property was purchased for $275,000 13 years ago from Downen Rental.

Auto Project

A car lot in North Little Rock is under new ownership after a $69,500 deal.

I Sell 4 You Auto Sales LLC, led by Kristian Nelson, bought the Alexander Auto Sales project at 3208 MacArthur Drive.

The seller, the Linda Alexander Revocable Trust, provided a $59,5000 mortgage to back the deal.

The 0.17-acre property was acquired for $40,000 in May 2004 from Rea Rental Properties Inc., led by Juanita Rea.

Chenal Downs

A 5,806-SF home in west Little Rock’s Chenal Downs neighborhood tipped the scales at $1.5 million.

Roger and Julie Coburn purchased the house from Harjot and Lydia Hunjan. The deal is funded with a one-year loan of $1.5 million from Relyance Bank of Pine Bluff.

The 5-acre spread previously was tied to an August 2017 mortgage of $1.2 million held by IberiaBank of Lafayette, Louisiana.

The Hunjans bought the location for $200,000 in January 2011 from Circular Properties LLC, an affiliate of the Watkins Co. in Little Rock.

Riverbend Residence

A 3,150-SF home in Little Rock’s Riverbend neighborhood rang up an $895,000 sale.

The Lindsay McFaddin Thomas Revocable Trust and the Jeanette McConnell Shorey II Revocable Trust acquired the house from William and Peggy Marshall.

The deal is financed with a five-year loan of $720,000 from the Don G. Salmon Revocable Trust.

The Marshalls purchased the residence for $830,000 in January 2016 from JSW Properties LLC, led by Jane Gillespie.

Riverview Manor

A 4,658-SF home in Little Rock’s Riverview Manor neighborhood changed hands in a $712,000 deal.

Mark Valenzuela and Nicole Massoll bought the house from the Wilmington Savings Fund Society of Chicago.

The deal is backed with a 30-year loan of $569,600 from IberiaBank of Lafayette, Louisiana.

Wilmington recovered the property from Edwin McDonald at a $438,678 foreclosure sale in September 2018.

The residence previously was linked with September 2006 mortgages of $556,000 and $140,250 originally held by Bank of America in Charlotte, North Carolina.

McDonald acquired the property for $695,000 more than 13 years ago from Richard DeWese Jr. and his wife, Holly.

Shadowlawn Abode

A 2,136-SF home in Little Rock’s Shadowlawn neighborhood sold for $633,000.

Jens Talbert purchased the property from Kimon and Alisa Kosmitis. The deal is funded with a 30-year loan of $506,400 from U.S. Bank of Cincinnati.

The Kosmitis family bought the residence for $592,000 in May 2005 from Michael and Charlotte Whitt.