Walgreens Development Prescribes $6M Sale (Real Deals)


A 14,880-SF Walgreens in Little Rock weighed in at $6 million.

SVPLP Steeplechase-Stagecoachwag LLC of Oakland, California, purchased the 8815 Stagecoach Road project from the Gary Cohen & Joan Ruth Cohen Living Trust.

The deal is financed with a 10-year loan of $3.9 million from Stanford Federal Credit Union of Palo Alto, California.

The 1.88-acre development was acquired for $6.2 million in December 2014 from STAMJA-DT AR Properties LLC, led by Jason LaFrance.

Assembly Required

Land for a mixed-use commercial development in west Little Rock was assembled in five transactions totaling $4.45 million.

Cypress Bend Properties LLC, led by Randy Alberius, bought the property backed with a one-year loan of $6.1 million from Chambers Bank of Danville. The sellers are:

► PotlatchDeltic Real Estate LLC, an affiliate of PotlatchDeltic of Spokane, Washington, $3 million for 10.8 acres at the northwest corner of Kanis and Rahling roads.

Most of the land was purchased as part of three July 2008 deals with James and Amanda Moore, $474,000; Bruce Murphy, $238,000; and the Jeanne A. Murphy Revocable Trust, $238,000. Other sellers were Dietrich and Lynda Neyland and Marion Neyland, $1,000 in February 1970.

► Neal Gordon, $700,000 for a 1.41-acre parcel adjoining the north side of the Advance Paint and Body Shop at 18102 Kanis Road and Cupcake Factory at 18104 Kanis Road.

► The Walter Allen Murray Revocable Trust, $400,000 for 3.83 acres and a 1,516-SF house at 18520 Kanis Road. The property was bought for $90,000 in October 1999 from Mildred Matthews.

► The Bass Family Irrevocable Trust, led by James Bass Jr. and Lynda Bass Gaiser, $350,000 for 1.38 acres and a 3,312-SF house at 18500 Kanis Road. The property was purchased for $144,000 in May 2002 from the estate of Mildred Matthews.

Multifamily Dirt

Apartment land in the Riverdale area of Little Rock tipped the scales at $2.82 million.

Fitzroy Riverdale LLC, led by Brandon Huffman, acquired 11.42 acres near the southwest corner of Riverfront Drive and Cedar Hill Road and a 2.05-acre parcel along the south side of Cottondale Drive.

The deal is funded with a one-year loan of $2.3 million from First Community Bank of Batesville.

The seller is Alltel Corp., an affiliate of Verizon Communications Inc. of New York.

The land was bought in July 1994 as part of a $4.3 million deal with Pleasant Valley Inc., owned by the estate of Winthrop Rockefeller.

Dollar Deal

A 9,360-SF Dollar General in north Pulaski County rang up a $1.56 million sale. Brook Hollow Apartments of Texarkana LLC, led by Tony Asbille, purchased the 3001 Tates Mill Road project from PB General Holdings (Cabot 89) LLC, led by Leonard Boen.

The deal is financed with a 20-year loan of $1.1 million from State Bank of De Kalb, Texas.

The 2.94-acre location was acquired for $188,000 in July 2017 from the Otha Jean Marlar Revocable Trust.

Industrial Transaction

A 90,000-SF industrial facility in North Little Rock changed hands in a $975,000 deal.

TAT Holdings-Denver LLC, an affiliate of Spectra Metals of Atlanta, bought the 1805 E. Fifth St. project from B&B Industrial Park Inc., led by Robert Betz.

The 8.12-acre property was purchased in October 1961 as part of an $80,000 deal with McLean-Arkansas Lumber Co., led by William McLean.

Farmland Sale I

A 138.84-acre agri spread in east Pulaski County sold for $800,000.

Mel’s Land Co. LLC, led by Ollie Hall, acquired the land near the northwest corner of U.S. 165 and Planters Row. The seller is AG Resources II LLC, led by Gar Lile and Kevin Huchingson.

Ag Resources II bought the property for $438,000 in October 2012 from JDW Inc., led by John Ed Welch.

Farmland Sale II

A 164.87-acre agri property in east Pulaski County drew a $758,128 transaction.

South State Investment LLC of Miami purchased the land at the southwest corner of Hwy. 161 and Allison Road from Henderson Farms Inc., led by Pat Norsworthy.

Henderson Farms acquired the property for $530,000 in February 2012 from Johnie and Sharon Carter.

Commercial Exchange

A 10.17-acre commercial parcel in eastern North Little Rock is under new ownership after a $500,000 tax-deferred exchange.

Ben Davis Properties Management LLC, led by Ben and Diane Davis, bought the land at 9912 U.S. 165 from Southeast Financial Management LLC, led by George Wilcox.

Ownership was transferred to Ferndale Cutoff LLC, led by Bryan Hosto and Hank Kelley.

The land was assembled in two January 2004 deals with Julia and Robert Post, $125,000; and Harvey and Donna Watson, $87,000.

PV Residence I

A 5,450-SF home in west Little Rock’s Pleasant Valley neighborhood weighed in at $1.2 million.

Ted and Kirsten Fredrich acquired the house from Dream Big Investments LLC, led by Marsha Martin.

Dream Big bought the property for $479,000 in July 2016 from Marcella Jones.

Chimney Rock

A 6,906-SF home in North Little Rock’s Chimney Rock neighborhood tipped the scales at $1.1 million.

Rajbir Singh purchased the house from Raed and Tina Mussalam.

The deal is backed with a 30-year loan of $756,000 from Highland Resi-dential Mortgage Ltd. of Dallas.

The location was acquired in June 2001 for $126,000 from Matthews Properties, led by David Matthews.

Woodlands Edge

A 4,245-SF home in the Woodlands Edge neighborhood of west Little Rock rang up a $605,000 sale.

Nabeel Siddiqui and Maaman Bashir bought the house from Sudarone Thihalolipavan and Urmi Jani.

The deal is financed with a 30-year loan of $544,500 from Arvest Bank of Fayetteville.

The residence was purchased for $595,000 in June 2017 from Arbor Construction LLC, led by Michael Moran.

PV Residence II

A 4,467-SF home in west Little Rock’s Pleasant Valley neighborhood changed hands in a $565,000 deal.

The Dow A. Worsham II Revocable Trust acquired the house from Raymond Imbro Jr. and his wife, Kristi.

The residence was bought for $550,000 in August 2002 from Anthony and Cathy Fakouri.

Heights Home

A 2,169-SF home in the Heights area of Little Rock sold for $540,000.

Kelley Sims purchased the house from Nathan and Lauren Steel. The deal is backed with a 30-year loan of $432,000 from Telcoe Federal Credit Union of Little Rock.

The Steels acquired the residence for $500,000 in March 2017 from John and Kristin Clark.

Midland Hills

A 4,510-SF home in Little Rock’s Midland Hills neighborhood drew a $503,000 transaction.

John Friedland bought the house from Peter and Trudy Kumpe. The deal is funded with a 30-year loan of $503,000 from Everett Financial Inc. of Dallas.

The Kumpes purchased the property for $60,000 in October 1976 from Hyda Thompson.