The sale of a 41.8-acre industrial development in North Little Rock tipped the scales at $1.2 million.
Clifton Family LLLP, led by Norman and Shirley Clifton, acquired the former Chicopee facility at 1301 E. Eighth St. that includes a 465,000-SF plant and a 120,000-SF building.
The deal is financed with a $1 million loan from North Little Rock’s National Bank of Arkansas.
The seller is Chicopee Inc. of North Charleston, S.C. The corporation, owned by Polymer Group Inc. of Charlotte, N.C., purchased the property for $5.2 million in March 1995 from Johnson & Johnson of New Brunswick, N.J.
The project helped secure a November 2005 funding agreement of $455 million with Citicorp North America Inc. of New York.
Dollar Transaction
A Dollar General development in North Little Rock changed hands in a $999,000 transaction.
Oakley Investments LLC and Coit Properties LLC, both led by Stephen E. Cox, bought the 11046 U.S. Highway 165 store in a 60/40 split. The seller is PB General Holdings (NLR Hwy 165) LLC, led by Scott Proctor.
The 1.14-acre development previously was tied to an October 2011 mortgage of $760,000 held by Summit Bank of Arkadelphia. The site was acquired eight months ago for $135,000 from Bank of England.
Pediatrics Land
A 6.3-acre land assembly in west Little Rock added up to a $981,000 investment.
Kids Play Properties LLC, led by Todd Denton, purchased nearly 4.8 acres from Nabholz Inc. of Conway for $671,000 and 1.5 acres from D.M. and Ida
Lewis for $310,000.
Construction of the 31,852-SF Pediatrics Plus facility at 1900 Aldersgate Road is backed with a $5.4 million loan from Delta Trust & Bank of Little Rock.
The Lewis family acquired its land from Nabholz in June 2000 for $196,000. Nabholz bought all of its property in September 1999 as part of a $525,000 deal with The Wilson Co., led by Robert M. Wilson.
Wild Location
A Buffalo Wild Wings project in Sherwood is in motion after a $950,000 land deal.
Mark S Group Corp. of Oklahoma City acquired the 2.05-acre site at the northwest corner of Warden Road and Silver Creek Drive from Doda Construction LLC, led by David Bruning.
Construction of the 6,200-SF eatery is funded with a four-year loan of $2.88 million from Centennial Bank of Conway.
The property previously was linked with a July 2009 mortgage of $234,224 held by Little Rock’s Bank of the Ozarks.
The land was purchased in December 1998 as part of a $540,000 deal with Carl and Kay Faulkner.
Convenient Site
A 1.96-acre Kum & Go convenience store site in Sherwood was assembled in two deals totaling $650,000.
KG Store 150 LLC of Des Moines, Iowa, bought the land at the southeast corner of East Kiehl Avenue and Lantrip Road. The sellers are Ernest Sam Lantrip, $400,000, and Marvin and Carletta Overton, $250,000.
The Overtons acquired their property for $38,000 in July 1979 from Donna Lantrip. The Lantrip family had owned the land since February 1936.
Ace Acquisition
A 3.09-acre commercial site in southwest Little Rock rang up a $300,000 transaction.
Ace Signs of Arkansas LLC, led by Jason Offutt, purchased the land near the northeast corner of Otter Creek South Road and Interstate 30. The 50/50 sellers are Centennial Bank and 2610 Acres LLC, led by Rick Ferguson.
Development of the site is financed with a one-year loan of $1.2 million from Bank of the Ozarks.
The property previously helped secure an April 2003 mortgage of $360,000 held by Otter Creek Development Co., led by Byron Eiseman Jr., and an April 2005 mortgage of $1.5 million held by Twin City Bank of North Little Rock.
Centennial Bank, successor to TCB, entered the ownership picture in June 2011 through a $1.1 million foreclosure sale of several local properties.
Centennial took over the interests of Gene Cauley in several limited liability companies that held 50 percent stakes in the properties.
PV Residence
A 4,300-SF home in west Little Rock’s Pleasant Valley neighborhood drew a $548,000 sale.
William and Paula Johnson acquired the house from the Stephen & Gayelynne Craig Trust. The deal is backed with a 15-year loan of $250,000 from BancorpSouth Bank of Tupelo, Miss.
The property previously was tied to a June 2009 loan of $389,000 originated by Moore Mortgage Inc. of Little Rock and an August 2009 loan of $185,000 from Regions Bank of Birmingham, Ala.
The Craigs purchased the residence for $380,000 in June 2008 from LSA Properties LLC, led by David John and William Allison.
St. John’s Home
A 2,800-SF home in Little Rock’s St. John’s Wood neighborhood sold for $524,000.
Philip and Lindsey Gray bought the house from Fred and Heather Brister.
The deal is funded with a 30-year loan of $417,000 from First Security Bank of Searcy.
The residence previously was linked with a November 2007 mortgage of $417,000 originated by Bank of the Ozarks and a December 2007 mortgage of $44,569 held by the bank.
The property was acquired for $455,000 in August 2007 from Cecelia Hartz.
Oaks House
A 3,956-SF home in The Oaks neighborhood of west Little Rock’s Chenal Valley development changed hands in a $500,000 deal.
Randy James Construction Co. purchased the house from Byron and Shelley Rogers.
The residence previously was tied to a September 2005 mortgage of $320,000 held by Pulaski Mortgage Co. of Little Rock.
The property was bought for $530,000 nearly seven years ago from Charles Freeman.
Apartment Funding
A 288-unit upscale apartment project in North Little Rock was refinanced with a $31 million funding agreement.
BC Group II LLC, led by John Burkhalter, obtained the loan from Grandbridge Real Estate Capital LLC of Charlotte, N.C.
The 12.4-acre Fountaine Bleau Apartments project at 10801 Paul Eells Drive previously was linked with a May 2009 mortgage of $12.3 million, a June 2010 mortgage of $18.8 million and a December 2011 mortgage of $730,000 held by Arvest Bank of Fayetteville.
The property was part of the 40-acre Maumelle Golf Driving Range that Burkhalter acquired for $1.96 million in March 2007 from John and Mary Hearnes.
Clinical Construction
Construction of the Arkansas Psychiatric Clinic in west Little Rock is backed with a $2.7 million financial package.
APC Property Group LLC, led by Bradley Diner, received the one-year loan from Simmons First National Bank of Pine Bluff.
The 2.4-acre site at 4 Executive Center Court was assembled in two August 2011 deals totaling $621,000.
The sellers were Thomas and Susan Strickland, a 1.3-acre parcel for $320,000, and Westrock Partnership, a 1.15-acre parcel for $301,000. Westrock originally was composed of Gus Blass III of Capital Properties Ltd., Chester Phillips of Phillips Development Corp. and Robert Vogel of Vogel Enterprises.
Both properties were part of an 89-acre tract Westrock purchased in June 1995 from the Federal Deposit Insurance Corp. for $2.63 million.
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