Market Plaza Sale Tops $20.3 Million (Real Deals)

Market Plaza Sale Tops $20.3 Million (Real Deals)
(Google Maps)

A 170,385-SF retail center in North Little Rock tipped the scales at $20.35 million.

RCG-North Little Rock VII LLC, an affiliate of RCG Ventures of Atlanta, acquired the Market Plaza Shopping Center at 4201 E. McCain Blvd. The seller is Market Plaza Ltd., led by William Daniel Thomas III.

The deal is financed with a five-year loan of $14.7 million from BankPlus of Belzoni, Mississippi.

Market Plaza purchased the 19.52-acre development for $7 million in December 1986 from The Crestwood Co., led by James P. Matthews.

Villas Acquisition

The 140-unit Villas on Cantrell apartment project in Little Rock weighed in at $12.1 million.

Summit 8101 Cantrell Apartments LLC, an affiliate of Summit Real Estate Group of St. Louis, sold its namesake address to VA7 Villas on Cantrell LLC, an affiliate of FPA Multifamily in Irvine, California.

The deal is backed with a three-year loan of $10.4 million from BOKF in Tulsa.

Summit 8101 acquired the 7.35-acre development for $7.8 million in May 2015 from Watergate Little Rock Apt Portfolio LLC, an affiliate of Bell Partners of Greensboro, North Carolina.

Speedway Sale

A racetrack in southwest Little Rock drew a $4.95 million transaction.

Copart of Arkansas, an affiliate of Copart Inc. of Dallas, purchased the I-30 Speedway at 12297 Interstate 30 from Tracey Clay and Joe Clay Sr.

Joe Clay and partners Ron and Odus Pack bought the 66.03-acre property for $700,000 in July 1987 from Kenneth Clifton.

Foxcroft Buy

A 20-unit multifamily project in Jacksonville rang up a $2.02 million sale.

Davis Mid-South Properties LLC, led by Jacquelyn and Steven Davis, acquired Foxcroft Apartments at 900 Madden Road. The seller is DJJS Thaddeus Properties LLC, led by Daniel Gray.

The deal is funded with a $1.6 million loan from Peoples Bank of Sheridan.

DJJS purchased the 2.19-acre development for $1.2 million in April 2018 from Bradley H. Medlock Ltd.

Lifesavers Purchase

A 37,958-SF office building in Maumelle changed hands in a $1.84 million deal.

Castle Investments LLC, led by Bruce Cook, bought the Lifesavers Building at 600 Pine Forest Drive from Winners Plaza Inc., led by Jerry Poole.

The deal is financed with a five-year loan of $1.5 million from Arkansas Federal Credit Union in Little Rock.

Poole sold off space in the building over the years after acquiring the 1.64-acre development for $419,750 in July 1993 from the Resolution Trust Corp., receiver for Citizens Security Bank of Borger, Texas.

Poole reassembled sole ownership in deals with Triple G Properties, led by Ronald Gillert, $70,000 in March 2004; Cynthia Bonds, $70,000 in January 2011; the estate of John Roddie Jr., $82,000 in May 2014; Dale Jones and Larry Sturdivant, $46,000 in June 2014; Bank of America in Charlotte, North Carolina, $55,900 in December 2014; the Brenda L. Throckmorton Revocable Trust, $52,308 in March 2022; Billy Morden, $225,000 in April 2022; Parvis and Maryam Eftekhari, $110,000 eight months ago.

Lynn Lane

A 22-unit apartment property in North Little Rock is under new ownership after a $1.1 million transaction.

Lynn Lane LLC of San Diego sold its namesake project at 4416-4418 Lynn Lane to Sam Emmerling.

The deal is backed with a five-year loan of $1.1 million from Arkansas Federal Credit Union.

Lynn Lane bought the 0.86-acre development for $970,000 in August 2021 from Stone Crest Apartments LLC, led by Ryan and Jeffrey Aclin.

Ferndale Land

A 6.95-acre parcel in west Pulaski County sold for $750,000.

Tisdale Properties & Development LLC, led by Tracy Tisdale, acquired the 2723 Ferndale Cutoff Road property from Britt Smith. Smith purchased the land for $21,000 in December 1978 from Loyd and Pamela Moler.

Westrock Clinic

A 3,372-SF veterinarian project in west Little Rock drew a $615,000 transaction.

Woobank LLC, led by Roby and Carrie Woobank, bought the Westrock Animal Clinic at 14104 Taylor Loop Road from Drs. LaVergne LLC, led by Rene and Sonya LaVergne.

The deal is funded with a five-year loan of $492,000 from Citizens Bank of Batesville.

The LaVergnes acquired the 0.49-acre site for $25,000 in June 1999 from the Chester A. Phillips Revocable Trust.

Setu Investment

A 4,598-SF commercial project in Little Rock rang up a $340,000 sale.

Setu Investment LLC, led by Maunish Shah and Subhas Pandat, purchased the 1003 Martin Luther King Jr. Drive site from Shreeji Krupa Equity Group Ltd., led by Kunal Mody.

The deal is financed with a three-year loan of $340,000 from First Community Bank. The limited partnership bought the 0.35-acre property for $150,000 in January 2011 from Smith Funeral Home Inc., led by Ruth Chandler.

Jewell Acreage

About 80 acres in south Pulaski County changed hands in a $300,000 deal.

CWR Farms LLC, led by Charles Richardson, acquired the land a half-mile southeast of the Hensley community from the David & Betty Jewell Revocable Living Trust.

The Jewells assembled the land in two deals with Jeanette Goheen, $42,000 in January 1991; and J.A. and Martha Wampler, $14,000 in February 1993.

Maumelle Site

A 9.06-acre commercial site in Maumelle shifted ownership in a transaction valued at $249,095.

Mechanics Lumber Co., led by Gene Pfeifer, bought the land on the west side of Murphy Drive north of Carnahan Drive. The seller is MGY LLC, led by Marc Yelenich.

The land was acquired in October 2007 as part of a $624,000 deal with J.G. Construction Co. of Little Rock, led by Julian Gilliam.

Valley Falls

A 7,553-SF home in the Valley Falls Estates neighborhood of west Little Rock tipped the scales at $1.3 million.

Smith Family Revocable Trust, led by Carey and Andria Smith, purchased the house from Joe D. White Jr., and his wife, Kimberly.

The deal is backed with a one-year loan of $1.4 million from Relyance Bank of White Hall.

The residence was bought for $2.4 million in December 2007 from Sunset Bay I LLC, led by Rick Ferguson.

Hayden Heights

A 6,029-SF home in North Little Rock’s Hayden Heights neighborhood weighed in at $1.22 million.

Patricia and William James Jr. acquired the house from Medlock Management Co. LLC, led by Brad Medlock.

The deal is funded with a 30-year loan of $977,600 from Simmons Bank of Pine Bluff.

Medlock Management purchased the site in October 2017 as part of a $180,620 deal with East Village LLC, led by Davis Haas.

Woodlands Edge

Steven and Michelle Kordell bought a 5,005-SF house in the Woodlands Edge neighborhood of west Little Rock for $1.29 million from Arbor Construction LLC, led by Michael Moran. 

Arbor acquired the site for $164,000 in November 2019 from Rocket Properties LLC, led by Lisenne Rockefeller.