McCain Plaza Rings Up $31M Transaction (Real Deals)


Parcel lines are approximate and shown for illustration only.
Parcel lines are approximate and shown for illustration only. (©2022 Google Maps)

A 314,236-SF retail center in North Little Rock tipped the scales at $31.25 million.

ARG MPLTRAR001 LLC, an affiliate of American Realty Capital of Newport, Rhode Island, bought McCain Plaza at 4200 E. McCain Blvd. The seller is TPP 303 NLR Plaza LLC, an affiliate of TriGate Capital LLC of Dallas.

TPP purchased the 27.78-acre development for $23.1 million in May 2016 from DDR Downreit LLC, an affiliate of DDR Corp., a publicly traded real estate investment trust based in Beachwood, Ohio.

Studio 6 Sale

Parcel lines are approximate and shown for illustration only.
Parcel lines are approximate and shown for illustration only. (Google Earth / Mapbox)

A 130-room hotel in west Little Rock tipped the scales at $5.26 million.

ASAR Hospitality LLC of Irving, Texas, purchased the Studio 6 at 10524 W. Markham St. from KNB Lodging LLC, led by Kanti and Nila Sharolia.

The deal is financed with a 25-year loan of $4.6 million from US Metro Bank of Garden Grove, California.

The 1.81-acre development was acquired for $2.5 million in November 2009 from Motel 6 Operating Ltd. of Carrollton, Texas.

Recreational Purchase

The 66,098-SF River City RV facility in North Little Rock weighed in at $2.35 million.

North Little Rock Bethany RD LLC, an affiliate of B&D Holdings in Warren, New Jersey, acquired the 4545 W. Bethany Road project. The seller is I-40 RV Land LLC, led by Paul Minton.

The deal is financed with a 10-year loan of $1.7 million from Lakeland Bank of Newfoundland, New Jersey.

I-40 RV Land bought the 6.21-acre development for $1.5 million in 2013 from Inviting Properties LLC, led by Pamela Hatcher and Sarah Mitchell.

Multifamily Acquisition

A 24-unit apartment building in downtown Little Rock changed hands in a $1.25 million deal.

Boynerian LLC of Belmont, Massachusetts, purchased the 2301 Scott St. project from CIG-Scott LLC, led by Rick Ferguson. The deal is backed with a three-year loan of $1.4 million from First Community Bank of Batesville.

The 0.99-acre development was acquired for $875,000 in September 2019 from Cozywood Apartments LLC of Toquerville, Utah.

City Silo

A former Pei Wei restaurant is under redevelopment into a City Silo Table + Pantry after a $1.28 million transaction.

Promenade RE LLC, led by Michael Bodnar and Jim, Tommy and Jake Keet, bought the PeiWei/Mattress Firm project at 17701 Chenal Parkway.

The seller is RHV LLC, an affiliate of Arvest Bank of Fayetteville. The deal is backed with a one-year loan of $1.7 million from the bank.

Arvest recovered the 1.47-acre development in July 2021 from Beefam LLC and Bonerts MV LLC, both of Santa Ana, California.

The two limited liability companies forfeited the property in lieu of foreclosure on a 2017 mortgage of $2.95 million held by Arvest.

The deed in lieu transfer was valued at $2.2 million.

Elmscourt Sale

A 20-unit apartment project in downtown Little Rock weighed in at $1.2 million.

Elmscourt Apartments LLC, led by Josh Malone, Robert Fleming and Douglas Melkovitz, sold its namesake 20-unit project at 623 Sherman St.

The buyer is HAT Properties LLC, led by James Hoffman and Brian Teeter.

The transaction is funded with a fiveyear loan of $1.2 million from Encore Bank.

Elmscourt Apartments bought the 0.52-acre development for $590,000 in June 2019 from Ann Shollmier and the Barre Revocable Trust, led by James Barre.

Flip to Pharmacy

A 1,744-SF bank branch in the Heights area of Little Rock changed hands in an $800,000 transaction.

U.S. Bank of Cincinnati sold its office at 5200 Kavanaugh Blvd. to CIU 5200 KAVA LLC, led by Hank Kelley.

The limited liability company resold the 0.32-acre development for $1.5 million to 5200 Kavanaugh LLC, led by Scott Pace.

The future home of Kavanaugh Pharmacy is financed with a 10-year loan of $1.2 million from Little Rock’s Bank OZK.

The location originally was acquired by North Little Rock’s Twin City Bank for $280,000 in March 1988 from W.C.

McMinn Co., led by Ben McMinn.

Acreage Acquisition

More than 80 acres in south Pulaski County rang up an $893,585 sale.

Trey Fleming bought the land on the south side of Harper road less than 2 miles east of the Sweet Home community.

The seller is ResiComm Properties LLC, led by Bryan and Sonya Glaze.

Much of the property was purchased in April 2016 as part of a $4.5 million deal.

The seller in that transaction was Kingridge Enterprises Inc., led by Mark Jackson.

Expo Purchase

An 18,058-SF flea market in Little Rock drew a $365,000 transaction.

Philander Smith College acquired the Hampton Expo complex at 1102 W.

Daisy Bates Drive from Knickerbocker LLLP, led by Kirk Tompkins.

The 0.86-acre property was assembled in two deals totaling $103,000.

The sellers werewith Ben and Eloise Allen, L.R. and Marie Clark, Jerald and Sonya Barnett, Douglas and Margaret Parrish and W.G. Clark Jr., $88,000 in July 1973; and William and Jacquelin Brown, $15,000 in June 1999.

Multifamily Buy

A five-unit apartment project in southwest Little Rock sold for $348,500.

Marsh PM LLC of Los Angeles purchased the 12001 Geyer Springs Road property from J. Maxwell Investments LLC, led by Brendan Maxwell.

The deal is backed with a $266,000 loan from U.S. Bank.

J. Maxwell Investments bought the 4.96-acre development for $239,000 in February 2021 from Lanier Premier Properties LLC, led by Sharon Lanier.

Klean Transaction

A 7,110-SF office-warehouse project in south Little Rock is under new ownership after a $250,000 deal.

Mead Auto Group LLC, led by Scott Mead, acquired the 5304 Scott Hamilton Drive property from Ted Bishop and his Klean Inc.

The deal is funded with a three-year loan of $250,000 from Gateway Bank of Rison.

The 3.03-acre property was assembled in two transactions totaling $102,000.

The sellers were the W.H. Pinson Revocable Trust, $100,000 in April 1988; and Bill Putnam, $2,000 in April 1992.

Xpress Deal

A 4,800-SF warehouse in Jacksonville changed hands in a $150,000 transaction.

Xpress Media Blasting LLC, led by John Barber, bought the 816 S. Redmond Road project.

The seller is Four Seasons Metalworks LLC, led by Christopher Stroud.

The deal is financed with a five-year loan of $148,000 from First Arkansas Bank & Trust of Jacksonville.

Four Seasons acquired the 1.06-acre development for $85,000 in May 2017 from Carole Cromer.

Dollar Deal

An 8,400-SF Family Dollar store in North Little Rock rang up a $1.15 million sale.

1097 Super LLC of Anaheim, California, bought the 5609 MacArthur Drive project from Michael and Jennifer Reis of Concord, Massachusetts.

The deal is funded with a 10-year loan of $693,000 from Merchants Bank of Long Beach in California.

The Reis family purchased the 0.78-acre development for $985,000 in October 2018 from Mainstream Development II LLC of Sulphur, Louisiana.

Site Selected

A 2.48-acre commercial site in North Little Rock drew a $966,857 transaction.

Dr. Holly Cockrum acquired the land on the east side of Faulkner Road from Woodcrest Co. LLLP, led by James P. Matthews.

The Matthews family had owned the land since August 1959. John and Martha Matthews bought the property from Fred and Katherine Watkins as part of a $250,000 deal.

Office-Warehouse Buy

A 7,500-SF office-warehouse in North Little Rock sold for $670,000.

The Retzer Group Inc. of Greenville, Mississippi, purchased the 11000 Burkhalter Haas Drive property from R.C.N. Enterprises Inc., led by Raymond Nosler.

The deal is financed with a five-year loan of $500,000 from Planters Bank & Trust of Indianola, Mississippi.

R.C.N. acquired the 0.96-acre site for $100,000 in April 2005 from Burkhalter Haas Properties LLC, led by John Burk-halter and David Haas.

Triplex Transaction

A triplex in downtown Little Rock is under new ownership after a $230,000 transaction.

Gozde Gursoy bought the 510 E. Eighth St. project from Thomas and Elizabeth Foti.

The deal is backed with a 30-year loan of $225,834 from Eagle Bank & Trust of Little Rock.

The 0.21-acre property was purchased for $30,000 in August 1976 from Thomas and Susan Wilkes.

Church Expansion

A 4,888-SF church in the Rose City area of North Little Rock changed hands in a $197,760 deal.

The Evangelistic Baptist Church sold its 902 Atkinson Rhodes St. property to the Church Of Christ Downtown Little Rock.

The deal is funded with a $512,208 loan from Centennial Bank of Conway.

Evangelistic Baptist bought the 0.39-acre development for $80,000 in July 2010 from Mt. Olive Baptist Church.

Twice-Sold Triplexes

A pair of triplexes in Jacksonville sold in successive deals beginning with a $152,000 transaction.

Rock It Properties I LLC of Fort Lauderdale, Florida, purchased the 1600 S. Bailey St. project from D&D Real Estate Rental Inc., led by Donald Toennies.

Rock It then sold the 0.47-acre development for $200,000 to TNA Holdings LLC of Buffalo Center, Iowa.

The deal is financed with a six-month loan of $140,000 from IRock Loans LLC of Fort Lauderdale.

Orle Circle

A 5,879-SF home in west Little Rock’s Orle Circle neighborhood weighed in at $1.52 million.

Suman Siddamreddy and Vasuki Dandu purchased the house from Asif Massod and Madiha Shahid.

The deal is backed with a 30-year loan of $1.5 million from First Horizon Bank of Memphis.

Massod and Shahid bought the location for $185,000 in May 2015 from Richard and Renee Hutson.

Forest Heights Place

A 4,112-SF home in Little Rock’s Forest Heights Place neighborhood tipped the scales at $1.05 million.

The Karol B. Zoeller Revocable Trust acquired the house from the estate of Ann Darby Kocinski.

Kocinski purchased the residence for $455,000 in July 2003 from Kenneth and Mary Hiegel.

Edswood Abode

A 5,552-SF home in the Edswood neighborhood of west Pulaski County rang up a $790,000 sale.

Alexander and Lindsey Ray bought the residence from Aaron and Karen Black.

The deal is backed with a 30-year loan of $592,500 from Flat Branch Mortgage Inc. of Columbia, Missouri.

The Blacks acquired the nearly 1acre location for $85,000 in July 2013 from Redbridge Development Ltd., led by Robert Schmitt.

Deauville Place

A 5,078-SF home in the Deauville Place neighborhood of west Little Rock rang up a $759,000 sale.

Felix Avila and Sandra Osogobio bought the house from the Matthew David West Revocable Trust and the Ashley Fuller West Revocable Trust.

The deal is funded with a 30-year loan of $299,000 from Simmons Bank of Pine Bluff.

The trusts acquired the residence for $590,000 in December 2016 from Srinivasan Ramaswamy and Roopa Ram.

Alexander Acreage

A 28.42-acre tract near Alexander was flipped beginning with a $150,000 sale.

Arkansas Land & Forestry LLC, led by Charles Michael Stalcup, bought the land a mile northeast of Alexander between the Union Pacific Railroad tracks and Alexander Road.

The seller is Checkbuyers.com LLC, led by Stephen Whitwell and Gertrude Ryles.

Arkansas Land sold the property for $190,000 to Raul Beltran, Dennis Wood and Fernando Sanmigues.

Rural Residence I

The sales of a 4,407-SF home and 26.29 acres in west Pulaski County combined for a $2.75 million deal.

Jimmy and Katie Hicks acquired the 7-acre residential spread 2 miles east of Ferndale for $1.11 million and the adjoining land for $1.64 million from RH Catering & Events LLC, led by Rush and Linda Harding.

The deal is backed with a seven-year loan of $1 million from Southern Bancorp Bank of Arkadelphia.

The combined property was bought in two transactions totaling $1.5 million in May 2008 from Peck Family Ltd. LLLP, led by Beverly Peck.

Rural Residence II

A 4,208-SF home in west Pulaski County tipped the scales at $1.23 million.

Rahul Kumar and Shabana Jiwani purchased the 5.59-acre residential spread a mile east of the Perry-Pulaski county line from Cipriano and Gloria Avila.

The deal is funded with a 30-year loan of $984,000 from First Service Bank of Greenbrier.

The land was acquired in August 2016 as part of an $80,000 deal with James and Shirley Goode.

Hickory Creek

A 5,339-SF home in west Little Rock’s Hickory Creek neighborhood weighed in at $1.07 million.

Matthew and Courtney Jones bought the house from John Rees Jr. and his wife, Katherine.

The deal is financed with a 30-year loan of $642,000 from Encore Bank of Little Rock.

The Rees family purchased the residence for $655,000 in May 2018 from the Linda C. Holbert Revocable Trust.

Chimney Rock

A 7,100-SF home in North Little Rock’s Chimney Rock neighborhood changed hands in a $950,000 deal.

John Phillips acquired the house from the Stamp Revocable Trust, led by Jeffrey and Beth Stamp.

The deal is backed with a 15-year loan of $647,200 from Eagle Bank & Trust.

The Stamps bought the location for $95,000 in September 2002 from Matthews Properties LLC, led by Hal Matthews.

Falstone Court

A 3,858-SF home in west Little Rock’s Falstone Court neighborhood rang up a $750,000 sale.

Frank and Alix Michel purchased the house from Karen James Custom Built Homes Inc.

The site was acquired for $121,000 in March 2021 from PotlatchDeltic Real Estate LLC.