Red Dot Acquisition Tops $3.7M Mark (Real Deals)


Red Dot Acquisition Tops $3.7M Mark (Real Deals)
(Google Earth)

A 249-unit mini-storage project in north Pulaski County tipped the scales at $3.75 million.

Red Dot Storage 193 LLC, an affiliate of the Red Dot chain based in Louisville, Colorado, bought 1-Stop Storage at 8000 N. Ashley Road.

The seller is One Stop Storage LLC, led by David Haas. The deal is funded through a $200 million revolving credit agreement administered by Texas Capital Bank of Dallas.

The 27.36-acre development was linked with a May 2019 mortgage of $400,000 held by U.S. Bank of Cincinnati.

The land was purchased in April 2006 as part of a $390,000 deal with Martha Kierre.

QuikTrip Location

A 6.63-acre commercial site in north Pulaski County weighed in at $2 million.

QuikTrip Corp. of Tulsa acquired the location near the northeast corner of Highway 365 and Ashley Road from Holsted Ashley Group LLC, led by Todd Ashley Sr.

The property was bought in August 2019 as part of a $684,375 deal with the James Living Trust, led by trustees Willis and Gail James.

Trailer Park Buy

A 45.91-acre mobile home park in north Pulaski County sold for $1.4 million. Hillside Bayou MHP LLC of Pleasant Prairie, Wisconsin, purchased its namesake project at 8105 Old Tom Box Road from Hillside Bayou LLC of Brandon, Florida.

The seller provided an eight-year mortgage of $828,600 to finance the deal. Most of the property was acquired at a $508,457 foreclosure sale in November 2008. The previous owner was Charles Cole.

A 6-acre parcel was added in September 2015 in a $150,000 deal with Jez Family Ltd., led by James Jez.

Apartment Purchase

An 18-unit multifamily project in downtown Little Rock changed hands in a $1.15 million deal.

The Jason Taylor Family Trust bought Governor’s Court Apartments at 415 W. 18th St. from Harry and Mildred Loucks.

The property is helping secure a four-year loan of $1.9 million held by Little Rock’s Bank OZK. The 0.58-acre development was assembled in two buys from Walter Woodward Jr., $305,000 in September 1999; and Barbara Barksdale, $55,000 in November 1986.

Dollar Deal

A 9,270-SF Family Dollar store in Little Rock rang up a $725,000 sale.

The Family Fund Tucker LLC of Minnetonka, Minnesota, acquired the 5200 W. 65th St. project from Sand Dollar LLC, led by Tim English.

The 1.64-acre development previously helped secure a September 2015 mortgage of $9.2 million held by Chambers Bank of Danville.

The location was bought for $115,000 in September 2005 from Betty Sue and Robert Lowry.

Fire Station Site

A 9,114-SF retail project in Gravel Ridge drew a $500,000 transaction.

Pulaski County Fire Protection No. 9 purchased the Hwy. 107 Flea Market at 14912 Hwy. 107 from William Hum.

The deal is financed with a five-year loan of $425,000 from Central Bank of Little Rock. The 0.87-acre location was acquired for $3,800 in July 1958 from the estate of Phiness Shirley.

Convenient Sale

A 2,280-SF convenience store and adjoining 4,324-SF commercial project are under new ownership after a $465,000 sale. Khan’s Investment LLC, led by Khairuhnisa and Nasir Khan, bought the Exxon at 11701 Interstate 30 and the Gateway Office project at 11520 Mabelvale West Road.

The seller is Gateway Office LLC (76.5%) and 16600 CP Properties LLC (23.5%), both led by Issac Smith. The combined 1.71-acre development helped secure a February 2019 mortgage of $1.4 million held by Armor Bank of Forrest City.

The property was purchased 22 months ago as part of a $2.2 million deal with Alley Development Company-Otter Creek Office Park, led by Haitham Alley.

Mini Acquisition

A 194-unit mini-storage project near the Little Rock Air Force Base was flipped in a $325,000 transaction.

Fast Lane Capital LLC of Linthicum Heights, Maryland, acquired the Morden Mini Storage project at 5912 Morden Lane from CBL 70 LLC, led by Byron McKimmey and Clinton Looper.

The deal is backed with a $308,750 loan from Centennial Bank of Conway.The 5.02-acre development was bought for $225,000 in August from the Morden Revocable Trust, led by Billy and Linda Morden.

Cliffewood Manor

A 7,507-SF home in Little Rock’s Cliffewood neighborhood tipped the scales at $3.35 million.

The AEEA Crestwood Trust, led by Lauren Landers, purchased the house from Lee and Molly Owens.

The residence was tied to a November 2015 mortgage of $995,947 and a January 2019 mortgage of $700,000 held by Red River Bank of Alexandria, Louisiana.

The location was acquired in November 2012 for $600,000 from Crestwood Investment LLC, once led by Scooter Stuart.

Deauville Place

A 5,717-SF home in west Rock’s Deauville Place neighborhood sold for $825,400.

Corey and Christi Gillum bought the house from Rohan and Roopa Samant. The deal is funded with a 26-year loan of $742,860 from Regions Bank of Birmingham, Alabama. The residence was linked with a March 2015 mortgage of $644,000 held by U.S. Bank.

The Samants purchased the property for $797,000 in May 2014 from David and Linda Shaver.

River Ridge

A 3,866-SF home in Little Rock’s River Ridge Manor neighborhood changed hands in a $705,000 deal. Sabitha and Rangaswamy Govindarajan acquired the house from Hunter and Rebecca Lard.

The deal is financed with a 15-year loan of $505,000 from Regions Bank.

The residence was tied to a February 2018 mortgage of $380,000 held by Simmons Bank of Pine Bluff.

The Lards bought the property for $565,000 more than two years ago from the namesake trust of Allen Bradley and Judith Garrett.

Lamarche Place

A 3,810-SF home in west Little Rock’s Lamarche Place neighborhood rang up a $535,000 sale.

Carlos and Caroline Corbin purchased the house from Aaron and Jessie Farberg. The deal is backed with a 30-year loan of $508,250 from Bank of Little Rock Mortgage Corp.

The residence was linked with a December 2018 mortgage of $500,000 held by the Pino Revocable Trust, led by Scott and Sheri Dinehart. The Farbergs acquired the property for $534,000 two years ago from Lance and Sherry Burchett.

Miramar Place

A 3,454-SF home in west Little Rock’s Miramar Place neighborhood drew a $520,000 transaction.

Rachel Bunch bought the house from the Burnette Living Trust, led by Joshua and Kathryn Burnette. The deal is funded with a 30-year loan of $468,000 from Bank of Little Rock Mortgage.

The residence was tied to a November 2014 mortgage of $366,400 held by Arvest Bank of Fayetteville. The property was purchased for $458,000 more than six years ago from Turner & Sons Construction Co., led by John Turner.

Osage Terrace

A 3,304-SF home in Maumelle’s Osage Terrace neighborhood sold for $510,017.Roderick and Lasonya Shelby acquired the house from Hines Homes LLC, led by Brandon and Kelly Hines.

The deal is financed with a 30-year loan of $501,017 from Regions Bank. The residence was linked with an October 2019 mortgage of $356,000 held by Bank OZK.

The location was bought for $35,000 14 months ago from Bottom Line Inc., led by Charles Hinson.