Mutual Sale to Municipality Results in $5M Transaction (Real Deals)


Mutual Sale to Municipality Results in $5M Transaction (Real Deals)
Former USAble office building at 515 Pershing Blvd. in North Little Rock. (©2022 Google Maps)

A 91,808-SF office building in North Little Rock weighed in at $5 million.

The city of North Little Rock bought the four-story project at 515 Pershing Blvd. from Little Rock’s USAble Mutual Insurance Co.

The insurer purchased the 6.76-acre development for $3.4 million in April 2003 from Southwestern Bell Telephone Ltd. of San Antonio.

Flex Facility

A 92,370-SF industrial flex building in Little Rock’s Riverdale area tipped the scales at $4.1 million.

Willis Rock at Riverdale LLC, led by James and Terry Barnes, acquired the 2201 Brookwood Drive project.

The seller is Capital Properties LLC, led by Gus Blass III. Capital Properties bought the 5.27-acre development for $3.3 million in January 1996 from the Missouri State Employees’ Retirement System.

Advance Acquisition

A 1.46-acre Advance Auto Parts development in Little Rock sold in a $3.39 million deal.

GMA Salem Properties LLC of Rancho Mirage, California, purchased the 4300 S. University Ave. project from AAP-Little Rock 20 Ltd. of Fort Worth, Texas.

The former Denny’s location was acquired for $581,500 in February 2021 from MLR Properties LLC, led by Yanir Zikri.

RV Transaction

A 14,000-SF recreational vehicle facility in Sherwood changed hands in a $1.56 million transaction. 2340 Hudson Road LLC of Springfield, Missouri, bought the Mayflower RV project at 8830 Landers Road from Sherwood Tractor Properties LLC, led by Danny Montgomery.

The deal is financed with a 10-year loan of $2 million from Cadence Bank of Tupelo, Mississippi.

The 3.3-acre development was purchased for $1.2 million in August 2007 from the namesake revocable trusts of James and Masami Fiser.

Charter School Site

A 67,192-SF industrial facility and adjoining land in south Little Rock were acquired in tandem deals totaling $1.55 million.

KLS Leasing II LLC, an affiliate of the Walton Family Foundation in Bentonville, purchased the 7900 Col. Glenn Road project for $875,000.

The seller is Oxford Properties LLC, led by the Ray & Pam Wilson Revocable Trust.

KLS also bought a neighboring 8.23-acre parcel at the northwest corner of Col. Glenn and Whitfield Street for $680,000 from the Carolyn Ann Hougland Revocable Trust.

The 5.73-acre Oxford Properties development was acquired for $150,000 in February 1998 from Milk Products LLC of Dallas.

The other property was purchased in February 1936 as part of a $4,000 foreclosure sale associated with Martin Creamery Co.

TCBY Sale

A 1,485-SF TCBY project in west Little Rock rang up an $800,000 sale.

ARI Eat LLC, led by Alan Bubbus, bought the 11418 W. Markham St. project from RCG-Markham LLC, an affiliate of RCG Ventures of Atlanta.

The deal is backed with a one-year loan of $500,000 from Simmons Bank of Pine Bluff.

RCG acquired the 0.39-acre development in December 2018 as part of a $19 million deal with Weingarten/Investments Inc. of Houston, Texas.

Sienna Lake Land

More than 189 acres and seven lots in west Little Rock are under new ownership after a $767,000 deal.

Sienna Lake Partners LLC, led by Brandon Tedder, purchased the property in the Sienna Lake project from Cooper Land Development Inc., led by Jody Laitham.

The deal is funded with a three-year loan of $767,000 from First Community Bank of Batesville.

The land was part of a 368 acre-tract west of David O. Dodd Road and north of Crystal Valley Road bought for $2.4 million in June 2004 from Dyke Industries Inc., led by Fred Edick.

Warehouse Purchase

A 48,425-SF warehouse in Sherwood drew a $700,000 transaction.

300 Trammel Road LLC, led by James Wood, Tom Blackmon Jr. and Joey Stoll, sold its namesake address to Gerardo and Andrea Guzman.

The deal is financed with a 15-year loan of $644,700 from Arvest Bank of Fayetteville.

The 16.3-acre development was purchased in December 2020 as part of a $475,000 deal with WCII 1 LLC, an affiliate of Westdale Capital of Dallas.

Office-Warehouse Buy

A 7,750-SF office-warehouse in Sher-wood sold for $525,000.

HRE Holdings LLC, led by Ralph and Jennifer Nash, bought the 4806 Rixie Road project from Comfort Systems USA (Arkansas) Inc., led by Tad Hankins.

The deal is backed with a 10-year loan of $566,250 from Southern Bank of Poplar Bluff, Missouri.

Comfort Systems acquired the 3.06acre development for $740,000 in December 2008 from Clyde and Glenda Jester.

Commreal Deal

An 8,050-SF retail-warehouse in south Little Rock changed hands in a $380,000 transaction.

Commreal LLC, led by Clint Bennett, purchased the 6121 Forbing Road project from Mid South Homebuyers GP of Memphis. The deal is funded with an eight-year loan of $300,000 from Encore Bank of Little Rock.

Mid South bought the 0.65-acre development for $316,850 in April 2019 from Zag Investments LLC, led by Sharon Robinson.

Forest Heights Place

A new 5,130-SF home in the Forest Heights Place neighborhood of Little Rock weighed in at $1.52 million.

The Laventana Personal Residence Trust, led by Scott and Janet Korenblat, acquired the house from Rodney and Casey Rockwell.

The property was purchased for $355,000 in November 2018 from West Heights LLC, led by Kelley Johnson.

Walton Heights

A 3,724-SF home in west Little Rock’s Walton Heights neighborhood rang up an $805,000 sale.

Sulaiman Hudda bought the house from Senthil and Rhodora Raghavan. The deal is financed with a 30-year loan of $605,000 from Bank of England.

The Raghavans acquired the residence for $480,000 in August 2015 from Steve and Alicia Rucker.