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Arkansas Diagnostic Center Attracts $4.4M Sale (Real Deals)

5 min read

A 12,891-SF medical office building in west Little Rock weighed in at $4.4 million.

Store Master Funding X LLC, an affiliate of the Store Capital real estate investment trust in Scottsdale, Arizona, purchased the Arkansas Diagnostic Center at 8908 Kanis Road.

The seller is Williams ADC-GCA Building LLC, led by Dr. Alonzo Williams.

The 1.57-acre development previously was tied to a May 2009 mortgage of $2.27 million held by BancorpSouth Bank of Tupelo, Mississippi.

Williams acquired the location for $366,000 in August 1988 from BH&G Properties.

The BH&G investors included Dr. Samuel Boellner, Dr. Coburn Howell, Dr. Robert Galbraith, Dr. Jan Sullivan, Dr. Gordon Gibson, Dr. Morrison Henry, Dr. John Bornhofen and Dr. Elaine Wilson.

Warehouse Buy I
A 50,240-SF warehouse in west Little Rock tipped the scales at $1.68 million.

10 Clearwater Holdings LLC, led by Ryan Ketola, bought the Triton Stone facility at 10 Clearwater Drive. The seller is Ardoin Management Inc., led by Peter Ardoin.

The transaction was financed with a 20-year loan of $1.68 million provided by Peter and Jana Ardoin.

The 4.4-acre site was purchased for $116,200 in December 1991 from Big K Development Corp., led by Kelton Brown Sr.

Warehouse Buy II
An 18,122-SF office-warehouse in west Little Rock rang up a $1.2 million sale. James E. Whitley acquired the 10600 Otter Creek East Blvd. project from Little Rock Warehouse Associates LLC of Fort Smith.

The 1.62-acre development previously was linked with an August 2006 mortgage of $1.5 million held by BancorpSouth Bank. The site was bought for $150,000 in June 2006 from Shelly King.

Serial Acquisitions
Four commercial projects in Little Rock changed hands in a series of transactions totaling more than $1.1 million. Haybar Properties LLC, led by Bryan Hosto, purchased:

• An 11,144-SF office-warehouse at 1200 Spring St. for $425,000 from Walker-Wisdom LLC, led by Warren Walker and Bobby Wisdom.

The 0.34-acre development previously was tied to a May 2006 mortgage of $284,000 held by Arvest Bank of Fayetteville. The property was acquired for $150,000 in June 2001 from Tennessee Valley Electric Supply Co.

• The 7,500-SF Cantrell View Plaza at 1900 N. Bryant St. for $300,000 from PDC LLC, led by Gene Pfeifer.

The 0.34-acre development was bought for $343,000 in March 2000 from Hillcrest Properties Inc., led by Kelley Johnson.

• The 4,754-SF Harkey Building at 721 W. Second St. for $270,000 from the Virginia H. Atkinson Revocable Trust.

The 0.12-acre project was purchased for $44,000 in July 1972 from D.B. and Hermina Cheairs and Elizabeth Wenger.

• A 4,080-SF office-warehouse at 6519 Murray St. for $130,000 from Martin Instruments & Supplies Inc., led by Clifton Martin Sr.

The 0.4-acre development previously was linked with an October 2005 mortgage of $151,000 held by Twin City Bank of North Little Rock. Martin Instruments acquired the property for $151,000 in October 2005 from Ernest and Sharon Northern and David J. & Betty J. Jones Family Ltd.

Ranch Land
Undeveloped property in The Ranch project of west Little Rock sold for $750,000.

Pinnacle Ridge Development Co., led by George Petrov, bought the four lots and 32.7 acres bordered by Ranch Ridge Road and Ranch Boulevard. The seller is Ranch Properties Inc., led by Ed Willis.

The transaction and construction are backed with three-year loans of $750,000 from Ranch Properties and $800,000 from First Security Bank of Searcy.

The land was purchased in August 1984 as part of a $2.15 million land deal with Johnson Land Co., led by Glenn H. Johnson.

Apartment Purchase
Neighboring multifamily properties in west Little Rock are under new ownership after a $210,000 transaction.

J. Hoffman Properties LLC, led by James Hoffman, David Rapp and Brian Teeter, acquired the six units at 11015-11019 Mara Lynn Drive. The seller is CRJ-Wass LLC, led by Nikki Wass.

The deal is funded with a one-year loan of $297,479 from Tricore Capital LLC of Little Rock.

The combined 0.37-acre development previously was tied to a January 2010 mortgage of $801,636 held by Eagle Bank & Trust of Little Rock.

The four-unit project at 11015 Mara Lynn Drive was purchased for $105,000 in November 1998 from W.M. and Virginia Barrier.

The duplex at 11019 Mara Lynn Drive was bought for $69,000 in August 2000 from Anderson J. Ward.

Country Club House
A 3,380-SF home near the Country Club of Little Rock drew an $895,000 sale.

Nancy Phillips purchased the house from R.L. and Nancy Qualls.

The deal is financed with a 30-year loan of $700,000 from Bank of Little Rock Mortgage Corp.

The Qualls family acquired the residence for $847,000 in May 2013 from Ben and Nelda Johnson.

Heights Home
A 3,458-SF home in the Heights area of Little Rock changed hands in a $730,000 transaction.

Barbara and David Pryor bought the house from Tom and Paige Rystrom.

The residence previously was linked with a January 2007 mortgage of $480,000 and a November 2015 mortgage of $50,000 held by Centennial Bank of Conway.

The Rystroms purchased the property for $600,000 nine years ago from Kevin and Dianna Huchingson.

Overlook Residence
A 5,528-SF home in Little Rock’s Overlook Park neighborhood rang up a $700,000 sale.

Iden Cowan acquired the house from Anthony and Janet Dillon.

The deal is backed with a 10-year loan of $712,183 from Simmons Bank of Pine Bluff.

The residence previously was tied to a November 2007 mortgage of $340,000 held by Bank of America in Charlotte, North Carolina.

The Dillons bought the land in June 2006 as part of a $180,000 deal with the Fay Pfeifer estate.

Downtown Condo
A 2,408-SF condo in downtown Little Rock is under new ownership after a $675,000 transaction.

Jim Workman purchased the seventh-floor unit in the Arkansas Capital Commerce Center at 200 River Market Drive from Crain Investments Ltd., led by Larry Crain Sr.

The deal is funded with a five-year loan of $675,000 from Bear State Bank of Little Rock.

The space was acquired for $348,000 in July 2002 from 3rd & Commerce LLC, led by Jimmy Moses and Rett Tucker.

Cypress Point Abode
A 4,109-SF home in west Little Rock’s Cypress Point neighborhood sold for $530,000.

Kenneth and Rosa Parrish bought the house from Tracye Thomason.

The deal is financed with a 30-year loan of $417,000 from Wells Fargo Bank of Sioux Falls, South Dakota. The residence previously was linked with an April 2012 mortgage of $294,450 held by Quicken Loans Inc. of Detroit.

The location was purchased for $88,000 in August 1998 from Ranch Properties.

Woodland’s House
A 4,142-SF home in west Little Rock’s Woodland’s Edge neighborhood drew a $520,000 transaction.

Kyle and Jamie Sheffler acquired the house from Joy and Jason Ruple.

The deal is backed with a 30-year loan of $280,000 from Wells Fargo Bank. The residence previously was tied to a December 2011 mortgage of $400,000 held by Citibank of Sioux Falls, South Dakota.

The Ruples bought the property for $475,000 in December 2011 from Jacob White Construction Co.

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