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Chick-fil-A Site Rings Up $1.8 Million Transaction (Real Deals)

5 min read

A future restaurant location in west Little Rock weighed in at $1.8 million.

Chick-fil-A Inc. of Atlanta purchased the 2.34-acre site at the southwest corner of Bass Pro Drive and Interstate 30 Frontage Road from Bass Pro Outdoor World LLC of Springfield, Missouri.

The property previously helped secure a $2.2 billion funding agreement, overseen by JPMorgan Chase Bank of Columbus, Ohio.

The land was acquired in October 2012 as part of a $3 million deal with Town Center LLC, led by Tommy Hodges.

Donut Development

A Dunkin Donuts in west Little Rock tipped the scales at $1.3 million.

Kanis Estates LLC, led by Leonard Falcone, bought the 10721 Kanis Road project.

The seller is Kanis & Shackleford Investments LLC, led by Stephen Whitwell. The deal is funded with a 25-year loan of $1.2 million from Regions Bank of Birmingham, Alabama.

The 0.64-acre development previously was tied to an August 2012 mortgage of $686,608 held by First Security Bank of Searcy. The land was purchased for $52,000 in May 1986 from the Tommy Russell Sr. estate.

Apartment Buy I

A 10-unit apartment project in Little Rock’s Hillcrest neighborhood rang up a $720,000 sale.

Spanish Court LLC, led by John Chandler, acquired its namesake project at 808 Palm St. The seller is CCH Family Ltd., led by Colene Crawford Hansen.

The deal is backed with a five-year loan of $612,000 from IberiaBank of Lafayette, Louisiana.

The 0.32-acre location was bought for $25,000 in January 1976 from Blanche Donham Sitlington.

Branch Acquisition

A bank branch in North Little Rock changed hands in a $470,000 transaction.

Pontus Vault Portfolio LLC of La Jolla, California, purchased the 2,441-SF project at 3200 JFK Blvd. from First States Investors 6000C Ltd. of New York.

The 0.55-acre development is helping secure a $106 million mortgage held by Cantor Commercial Real Estate Lending Ltd. of New York.

The property previously helped secure a September 2007 mortgage of $22.7 million held by LaSalle Bank of Chicago.

First States acquired the branch for $510,000 in September 2005 from Bank of America of Charlotte, North Carolina.

Apartment Buy II

A 13-unit apartment project in Jacksonville sold for $185,000.

A.P. Rentals LLC, led by Austin and Jennifer Patton, bought South Oak Apartments at 800 S. Oak St. The seller is Gamma Properties Inc., led by Amin Amarshi.

The deal is financed with a $300,000 loan from Centennial Bank of Conway.

Gamma purchased the 0.76-acre development for $180,000 in January 2009 from Tracy Hall.

Clifton Purchase

A 7,200-SF retail-warehouse project in south Little Rock is under new ownership after a $150,000 deal.

The Clifton Family LLLP, led by Norman Clifton, acquired the Arkansas Car Stereo property at 5017 S. University Ave. from the Margaret M. Parker Revocable Trust.

The 1.19-acre site was bought as part of two transactions: $11,000 in September 1956 from W.B. and Essie Knight and Oma Brooks; and James and Leah Avance, an undisclosed sum in March 1969.

Hickory Pointe Manor

A 6,327-SF home in west Little Rock’s Hickory Pointe neighborhood tipped the scales at $1.7 million.

WVM LLC, led by Rush Harding, purchased the house from Maxie and Patricia Bobbitt. The deal is funded with a one-year loan of $1.2 million from Little Rock’s Bank of the Ozarks.

The Bobbitts acquired the residence for $1.8 million in June 2007 from Ken and Marjorie Burnett.

PV Residence

A 5,121-SF home in west Little Rock’s Pleasant Valley neighborhood drew a $675,000 sale.

Eugene and Leah Davis bought the house from the Barket Family Revocable Living Trust, led by Terry Barket.

The deal is backed with a one-year loan of $540,000 from Riverside Bank of Sparkman (Dallas County).

The residence previously was linked with a May 2011 mortgage of $260,000 held by Fairway Independent Mortgage Corp. of Plano, Texas, and an October 2014 mortgage of $50,000 held by One Bank & Trust of Little Rock.

The property was purchased for $648,000 in May 2011 from James Lee Kidd III and Rebecca Watters.

Maisons Abode

A 4,342-SF home in The Maisons neighborhood of west Little Rock’s Chenal Valley development rang up a $551,000 transaction.

Julius Petty III acquired the house from Kami and Michael Perkins. The deal is financed with a 10-year loan of $562,012 from Simmons Bank of Pine Bluff.

The residence previously was tied to a November 2012 mortgage of $417,000 held by IberiaBank Mortgage Co. of Little Rock. The property was bought for $528,000 more than three years ago from Christopher and Lisa Byrd.

Oakwood House

A 3,230-SF home in Little Rock’s Oakwood Place neighborhood changed hands in a $522,000 sale.

Patrick and Katherine Paullus purchased the house from Anne Orsi.

The deal is funded with a 30-year loan of $417,600 from Arvest Bank of Fayetteville. The residence previously was linked with a March 2013 mortgage of $375,600 held by CBC National Bank of Fernandina Beach, Florida.

Orsi acquired the property for $400,000 in August 2005 from Victor and Barbara Henderson.

Church Mortgage

A church expansion in North Little Rock is backed with a $4.1 million construction loan.

New Hope Baptist Church got the five-year loan from Simmons Bank.

The church assembled its 5.14-acre property at 1821 Edmonds St. as part of two buys totaling $30,000. The sellers were the Urban Renewal Agency of North Little Rock, $10,000 in October 1972, and the Naomi Kirspel Trust, $20,000 in May 1997.

Apartment Note

The owner of an 84-unit apartment project in downtown Little Rock landed a $2.3 million financial package.

Barrister-College View Properties LLC, led by Keith Johnson and Mike Akin, received the three-year loan from Union Bank & Trust of Monticello.

The 0.76-acre Barrister Court Apartments development at 1016 McGowan Drive previously was tied to a June 2008 mortgage of $2.6 million held by the bank. The property also is linked with a June 2008 mortgage of $1.2 million held by Centennial Bank.

The project was bought for $3.1 million in June 2008 from M&R Development LLC, led by Michael and Rhonda Wood.

Motorcar Loan

A 14,000-SF auto facility in Sherwood was used to secure a $2.3 million funding agreement. Sherwood Tractor Property LLC, led by Danny and Donna Montgomery, obtained the five-year loan from Twin Lakes Community Bank of Flippin (Marion County).

The 3.3-acre Zimmerman Motorcars project at 8830 Landers Road previously was tied to a December 2014 mortgage of $1.1 million held by First Security Bank.

The property was purchased for $1.2 million in August 2007 from the James D. Fiser Revocable Trust and the Masami Y. Fiser Revocable Trust.

Seven-Digit Construction

Renovation    $4,656,378
Arkansas Blue Cross & Blue Shield
601 S. Gaines St., Little Rock
Baldwin & Shell Construction Co., Little Rock

Church Offices    $3,600,000
New Hope Baptist Church
1821 Edmonds St., North Little Rock
Carson & Associates Inc., Little Rock

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