Midtown Little Rock Project Visited by $1.4M Sale (Real Deals)


Midtown Little Rock Project Visited by $1.4M Sale (Real Deals)
The commercial project at 1203-1205 S. University Ave. in Little Rock is a part of what was once known as Spaulding Plaza. (Google Maps)

A 33,692-SF mixed-use commercial project in midtown Little Rock weighed in at $1.4 million.

Dukan Holding LLC, led by Dadiqu Ali and Murad Mandani, purchased the 1203-1205 S. University Ave. project. The seller is Snipe Point Holdings LLC, led by Guarionex Decastro.

The deal is financed with a three-year loan of $1.3 million from Farmers & Merchants Bank of Stuttgart.

The 1.91-acre development was linked with an August 2005 mortgage of $1.8 million held by Little Rock’s Bank OZK.

Snipe Point acquired the project for $1.8 million more than 15 years ago from William and Deborah Goolsby.

Office Transaction

An 8,508-SF office building in west Little Rock tipped the scales at $1.2 million. DJK Ventures LLC, led by Darin and Joyce Hoover, bought the 1429 Merrill Drive project from AM Ventures LLC, led by Lori McGhee.

The deal is funded with a 10-year loan of $960,000 from Merchants & Farmers Bank of Dumas. The 0.9-acre development was tied to a May 2018 mortgage of $904,876 held by the bank.

The property was purchased for $1 million in May 2015 from Lucky Inc., led by Allen Kerr.

Highway 10 Land

A vacant 4.3-acre commercial property along the Arkansas River in Little Rock rang up a $938,000 sale.

The Arkansas State Highway Commission acquired the former home of Riverside Marine at 1900 Cantrell Road from Yankboys LLC, led by Wallace Rowland, Jerald Barnett Jr., John Oliver, Ross McCain, Wesley Walls, the James Hunter East Revocable Trust and Steve Kinzler.

The property was linked with a June 2011 mortgage of $1.2 million originated by Deltic Trust & Bank of Little Rock. The project was bought for $1.2 million in February 2008 from the Patrick J. Booth & Pat C. Booth Living Revocable Trust.

Prescription Property

A 1,980-SF pharmacy in Sherwood drew a $925,000 transaction. SCPG Propco Sherwood AR LLC, an affiliate of Little Rock’s Express Rx, purchased its 1,980-SF project at 8730 Brockington Road.

The seller is Murphy 410 North State Line Irrevocable Trust, led by Richard Murphy Jr. and his wife, Janet. The deal is backed with a 20-year loan of $601,250 from Relyance Bank of Pine Bluff.

The 0.42-acre development was tied to a June 2014 mortgage of $550,000 held by the bank. The location was acquired for $112,000 in December 1999 from Gary and Linda Clayton.

On the Wing

A 100-acre tract in east Pulaski County sold for $540,000 in advance of a land swap with Uncle Sam.

The city of Little Rock bought the land along the east side of Highway 440 about 2 miles north of Interstate 40 for the benefit of the Little Rock Port Authority.

The seller is F&D Ranch LLC, led by Skip Davidson. The property will facilitate the relocation of a federally owned flight navigation beacon from the port area to open up bigger industrial development possibilities.

The land was purchased in May 2003 as part of a $1 million deal with Harris Family Co. LLC, led by Max Harris.

Jacksonville Inn

A 38-room motel in Jacksonville changed hands in a $475,000 deal.

Titan General Contractors LLC, led by Abigail Reaves, Patricia Plumridge and Debra Hope, acquired the Air Base Inn at 300 Crestview Drive. The seller is MGD Inc., led by Arvind Shah.

The deal is financed with a five-year loan of $700,000 from First Service Bank of Greenbrier.

The 0.58-acre development helped secure a May 2019 mortgage of $1 million held by Centennial Bank of Conway.

The property was bought in October 2005 as part of a $1.1 million deal with Ramada Inn of Jacksonville Inc. (70.6%) and AEG Enterprises Inc., both led by Bart Gray Jr.

Robinwood Residence

A 4,213-SF home in Little Rock’s Robinwood neighborhood is under new ownership after a $755,000 transaction.

Angela and Kevin Wimmer purchased the house from Chanda and Carlo Chacon. The deal is funded with a 14-year loan of $604,000 from Regions Bank of Birmingham, Alabama.

The residence was linked with an October 2016 mortgage of $417,000 held by Eagle Bank & Trust of Little Rock. The Chacons acquired the property for $648,700 four years ago from Shannon and Denise Palmer.

Pine Manor

A 3,135-SF home in Little Rock’s Pine Manor area rang up a $615,000 sale.

Blakely and Brandon Adams bought the house from James and Miriam Gary. The deal is backed with a 10-year loan of $492,000 from Encore Bank of Little Rock.

The residence was tied to a June 2007 mortgage of $300,000 held by Simmons Bank of Pine Bluff.

The Garys purchased the property for $425,000 in May 2007 from Mary Healey.

Steel Bend

A 4,469-SF home in the Steel Bend Estates neighborhood of east Pulaski County drew a $552,500 transaction.

The Jason A. Ryles Living Trust acquired the house from the namesake trusts of Gertrude P. Ryles and John A. Ryles. The deal is financed with a 30-year loan of $315,000 from Bank of Little Rock Mortgage Corp.

The residence was linked with an August 2018 mortgage of $350,000 held by First Arkansas Bank & Trust of Jack-sonville. The 5.68-acre location was bought for $57,000 in February 1997 from the Albert T. Hurst Jr. Living Trust.

Midland Hills

A 2,596-SF home in Little Rock’s Midland Hills neighborhood sold for $537,000.

Clay and Molly Parker purchased the house from Matthew and Lacey Parker. The deal is funded with a 30-year loan of $510,150 from Highlands Residential Mortgage Ltd. of Dallas.

The residence was acquired for $430,000 in July 2014 from Todd and Stephanie Cullen.

The Oaks

A 3,571-SF home in The Oaks neighborhood of west Little Rock changed hands in a $500,000 deal. Richard and Maureen Sokora bought the house from David Laffoon backed with a 15-year loan of $400,000 from Encore Bank.

The property was purchased for $310,000 in July 2013 from Alan and Katherine Barksdale.