QuikTrip Land Purchase Closes at $8.5M (Real Deals)


QuikTrip Land Purchase Closes at $8.5M (Real Deals)
QuikTrip operates convenience stores in ten states. (Parcel lines approximate.) (Google Earth)

A 15.77-acre commercial tract in south Little Rock weighed in at $8.5 million.

QuikTrip Corp., the Tulsa-based convenience store chain, purchased the land near the southwest corner of Interstate 30 and Otter Creek Road from Fletcher Realty LLC, led by Frank Fletcher.

The property previously helped secure a June 2018 funding agreement of $5.5 million from Bank of America in Charlotte, North Carolina.

Fletcher Realty bought the land for $5.8 million in December 2013 from Thomas Bartholomew, founder of CalArk Inc.

Eatery Acquisition

An 8,045-SF seafood restaurant in North Little Rock tipped the scales at $7.31 million.

Pran McCain LLC of Alpharetta, Georgia, acquired the Red Lobster at 3707 W. McCain Blvd. from ARCP RL Portfolio V LLC, an affiliate of American Realty Capital Properties of Phoenix.

The deal is backed with a five-year loan of $5.7 million from Simmons Bank of Pine Bluff.

The 1.52-acre development was purchased for $4.9 million in July 2014 from GMRI Inc. of Orlando, Florida, an affiliate of Darden Restaurants.

Cannabis Transaction

Chicago companies were on both sides of a $1.16 million medical marijuana deal in Little Rock.

NLCP 7303 Kanis RD AR LLC, an affiliate of NewLake Capital Partners Inc., bought the 7,592-SF Herbology project at 7303 Kanis Road.

The seller is GR Properties AR Little Rock LLC, an affiliate of Grassroots Cannabis.

The 0.37-acre development was acquired for $900,000 in March 2019 from 7303 Kanis LLC, led by Henry Willmuth.

Cantrell Commercial

A 5,440-SF mixed-use project in Little Rock rang up a $1.13 million sale.

Two Rahling Centre LLC, led by John Rees, purchased the Hogwash Detail at 7708 Cantrell Road, Taqueria La Pasadita at 7706 Cantrell Road and an adjoining 2,130-SF house at 2224 Manney St.

The seller is Cantrell Tunnel Wash LLC, led by Edward Bailey and James Harkins.

The combined 0.98-acre development previously was tied to a March 2019 mortgage of $2.7 million held by Relyance Bank of Pine Bluff.

Cantrell Tunnel bought the property for $826,000 in February 2019 from G.E.M. Properties LLC, led by Darush Malek.

Scout Parking

A 0.41-acre parking lot in Little Rock’s Riverdale area changed hands in a $365,320 deal.

The Quapaw Area Council Inc. of the Boy Scouts of America acquired the parking lot adjoining its headquarters at 3220 Cantrell Road from the Schlereth Family LLC, led by John Schlereth.

The property was purchased as part of a $20,000 deal with Saul Shemin in October 1965.

Commercial Land

A 0.49-acre commercial site in west Little Rock sold for $160,000.

Pride Valley LLC, led by Roger Coburn, bought the location at 15010 Pride Valley Road. The seller is Chenal Storage Center LLC, led by Graham Smith.

The land was acquired in July 2012 as part of a $612,000 deal with Peggy Robbins.


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Somersett Estates

A 4,815-SF home in west Pulaski County’s Somersett Estates neighborhood drew a $775,000 transaction.

Roy Horsey Jr. and his wife, Sarah, purchased the 5.08-acre residential spread from the Tommy & Lori Clements Revocable Trust. The deal is financed with a 30-year loan of $510,000 from Bank of Little Rock Mortgage Corp.

The residence previously was linked with a September 2016 mortgage of $508,442 held by Navy Federal Credit Union of Vienna, Virginia.

The location was bought for $105,000 in March 2005 from Wayne Moore Properties LLC.

River Ridge

A 4,749-SF home in Little Rock’s River Ridge neighborhood is under new ownership after a $734,480 deal.

Edwin and Sally Riggs acquired the house from the Robert C. Cress Revocable Trust. The property was purchased for an undisclosed sum in June 1963 from Martha Riggs.

Chenal Circle

A 7,950-SF home in west Little Rock’s Chenal Circle neighborhood rang up a $659,500 sale.

Justin Elrod bought the house from Centennial Bank of Conway. The deal is funded with a 30-year loan of $510,000 from the bank.

Centennial recovered the residence in March 2017 after landing a $3 million judgment against Ron and Toni Lazenby.

Cammack Abode

A 3,572-SF home in Cammack Village changed hands in a $645,000 deal.

Joseph and Elizabeth Mowery acquired the house from Steve and Jill Bauman.

The deal is backed with a 30-year loan of $510,400 from Keller Mortgage LLC of Dublin, Ohio.

The residence previously was tied to a March 2016 mortgage of $127,591 from Citibank of Sioux Falls, South Dakota.

The Baumans bought the property for $97,000 in May 1982 from Mildred Graham.

Ensbury Place

A 4,250-SF home in the Ensbury Place neighborhood of west Little Rock sold for $591,689.

Andre and Jessica Bernard purchased the house from James Built Homes Inc., led by Randy James.

The deal is financed with a 30-year loan of $300,000 from Quicken Loans Inc. of Detroit.

The residence previously was linked with a December 2017 mortgage of $404,000 held by Little Rock’s Bank OZK.

The location was acquired for $98,000 27 months ago from Deltic Timber Corp. of El Dorado.

PV Residence

A 4,619-SF home in west Little Rock’s Pleasant Valley neighborhood drew a $557,000 transaction.

Brent Lawlis bought the house from Linda Sue Brown.

The deal is funded with a 30-year loan of $510,400 from Quicken Loans.

The residence previously was tied to an August 2011 mortgage of $150,000.

The property was purchased for $120,000 in June 1977 from Reuben and Mary Ann Long.