Tri-County Agri Purchase Produces $11.8M Sale (Real Deals)


Tri-County Agri Purchase Produces $11.8M Sale (Real Deals)
(Cross, Jefferson and Pulaski County Assessors)

Farmland covering 2,645 acres in three counties weighed in at $11.8 million.

MAIA Arkansas Farms LLC of Wilton, Connecticut, bought the property from Full Harvest Agricultural REIT II Inc., an affiliate of Chess Ag Full Harvest Partners in Kansas City, Missouri.

The transaction encompassed 1,322 acres in northern Jefferson County, a mile north of the Wright community, 780 acres 5 miles west of England in southeast Pulaski County and 543 acres in northern Cross County on the eastern edge of the Birdeye community.

The deal is financed with a 30-year loan of $6.4 million from Brighthouse Life Insurance Co. of Charlotte, North Carolina.

Full Harvest purchased the Jefferson County acreage for more than $5.5 million in November 2012 from Webb Family Farm LLC, led by Marilyn Webb Buffalo and Jim Webb.

The Pulaski County acreage was acquired in three June 2013 transactions totaling $3 million. The sellers were James Wayne IV and Anthony Wayne Headley.

The Cross County acreage was bought for more than $1.7 million in March 2012 from David and Linda Hogan.

Riverside Marine

A 30,512-SF boating facility in North Little Rock tipped the scales at $1.89 million.

RTC Hill Building LLC, an affiliate of Ram Tool Construction Supply Co. of Birmingham, Alabama, acquired the Riverside Marine project at 901 Judi Road.

The seller is Merrimack LLC, led by Tom Booth.

The deal is backed with a $1.6 million funding agreement from PNC Bank of Birmingham, Alabama.

Merrimack purchased the 9.57-acre site for $279,000 in June 2004 from D&B Commercial Park LLC, led by James Dietz Sr.

Agri Acquisition

More than 580 acres of farmland in east Pulaski County rang up a $1.38 million sale.

Allen and Lauren Williams bought the property a half-mile north of Scott on the west side of Walkers Corner Road from 8 Arrow Farms LLC, led by Zachary and Josh Dennis.

The deal is funded with a five-year loan of $1.1 million from Armor Bank of Forrest City.

The property was acquired for $1.25 million in December 2020 from the Helen P. Dortch Revocable Trust.

Office-Warehouse Buy

A 9,000-SF office-warehouse in west Little Rock changed hands in a $1.1 million deal.

EPA Land Co. LLC, led by Jeremy and Anastasia Blaylock, purchased the 9 Remington Cove project.

The seller is BWWP Ventures LLC, led by David Prewett. The deal is financed with a one-year loan of $448,000 from Arvest Bank of Fayetteville.

The 2.16-acre site was bought in September 2007 as part of a $775,000 deal with Billie and Carlos Gay.

Multifamily Purchase

A 16-unit apartment building in Little Rock sold for $960,000.

B.M. Mabelvale LLC of Brookland, New York, acquired the 4815 Mabelvale Pike project from LRMA Sale LLC, an affiliate of AMG Realty Group of Skokie, Illinois.

The deal is backed with a $720,000 loan from Corevest American Finance Lender LLC of Irvine, California.

The 0.6-acre development was purchased in May 2019 as part of a $11.5 million deal with Colonial Park RBG LLC of West Plains, Missouri.

Office Property

A 4,516-SF office building in downtown Little Rock is under new ownership after a $605,000 deal.

Few Properties LLC, led by Zack Hill and Arlton Lowry Jr., bought the 1308 S. Main St. project.

The seller is Banyan Capital Investments LLC, led by Bryan Hosto and Lauren Frederick.

The deal is funded with a one-year loan of $650,000 from First Security Bank of Searcy.

The 0.08-SF development was acquired for $500,000 eight months ago from Keystone Investments LLC, led by Gene Castin.

Liquor Transaction

A 6,053-SF liquor store on the western outskirts of Maumelle drew a $465,000 transaction.

J. & A. Cha Co., led by Alan Cha, purchased Palarm Liquor at 26705 Highway 365N from Terry Newton.

The deal is financed in connection with a 22-year loan of $1.8 million from Open Bank of Los Angeles.

Newton bought the 0.79-acre property for $50,000 in May 1991 from George and Peggy Cline.

Industrial Land

A 7.12-acre industrial site in the Otter Creek area of Little Rock rang up a $452,775 sale.

Persons Holdings LLC of Poplar Bluff, Missouri, acquired the land on the eastern end of Otter Creek Road South along the north side of the road from Stribling Equipment LLC of Richland, Mississippi.

The deal is backed with a five-year loan of $339,500 from Southern Bank of Poplar Bluff.

Stribling purchased the property in October 2012 as part of a $3.85 million deal with Alawest-Al LLC of Northport, Alabama.

Service Garage

A 7,200-SF service garage in south Little Rock changed hands in a $300,000 deal.

R&B Davis Property Management LLC, led by Ronald Davis II and Benjamin Davis III, bought the 2923 W. 60th St. project. The seller is Roling Property Holdings LLC, led by Robert Roling.

The deal is funded with a five-year loan of $220,000 from Encore Bank of Little Rock.

The 3.42-acre development was acquired for $225,000 in December 2015 from Randall Burris.

Parts Location

An automotive parts store is in the works for the University District of Little Rock after a $260,000 transaction.

Driven Brands Inc. of Charlotte, North Carolina, purchased the 0.37-acre site near the southwest corner of University Avenue and Col. Glenn Road from Xiang and Jin Lin.

The property was bought in July 2010 as part of a $230,000 deal with Iberia-Bank of Lafayette, Louisiana.

Edgehill Abode

A 4,415-SF home in Little Rock’s Edgehill neighborhood weighed in at $2.3 million.

The Matthew & Suzanne McClendon Joint Revocable Trust acquired the house from Lynn and Frances Mayhan.

The Mayhans purchased the property for $348,000 in November 1981 from Margaret Bass and John Gregory.

Hallen Court

A 4,394-SF home in west Little Rock’s Hallen Court neighborhood tipped the scales at $1.12 million.

Akshay Patravali and Neha Dole bought the house from Carmen McClennon and Joel Walker.

The deal is financed with a 30-year loan of $1 million from First Horizon Bank of Memphis.

The property was acquired for $759,000 in September 2019 from Randy James Construction Co.

River Club

A 5,400-SF home in the River Club neighborhood in west Pulaski County sold for $1.1 million.

Alan and Katherine Barksdale purchased the house from Timothy and Drew Files.

The deal is backed with a 30-year loan of $882,000 from First State Bank of Lonoke.

The Files family bought the residence for $825,000 in August 2016 from Kristi and Michael Crum.

Midland Hills

A 3,799-SF home in Little Rock’s Midland Hills neighborhood is under new ownership after a $822,500 deal.

Victoria DeFrancesco and Neftali Garcia acquired the house from the SEN Revocable Trust, led by Steve E. Nicholson.

The deal is funded with a 30-year loan of $658,000 from Bank of America in Charlotte, North Carolina.

The residence was purchased for $260,000 in June 1997 from Minnie Burton.