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Colony West Center Sells for $7.1 Million (Real Deals)

5 min read

The sale of a 90,000-SF retail center in west Little Rock weighed in at $7.1 million.

Colony West Group LLC, led by T.J. Lefl3r, Marshall Saviers and Brian Shaw, and C-Lef Partners LLC, led by Lefl3r, bought the Colony West Shopping Center at 10300 N. Rodney Parham Road.

The seller is Doyle Rogers Family Ltd., led by Doyle Rogers Jr.

The deal is financed with a 10-year loan of $6.1 million from Simmons Bank of Pine Bluff.

The Rogers family acquired the 7.96-acre site in July 1970 from International Paper Co. through The Kroger Co. for $504,500.

Pediatrics & DQ
Undeveloped commercial land in Sherwood tipped the scales at $1.38 million.

Pediatrics Plus Real Estate Sherwood LLC, led by Todd Denton, purchased 4.4 acres near the northeast corner of Country Club Road and Heritage Lane. The sellers are Stuart McGilvray, $1.18 million; and Heritage Properties Ltd., led by Sandra Franecke, $192,500.

Development of a 24,000-SF Pediatrics Plus facility is backed with a one-year construction loan of $6.75 million from Bear State Bank of Little Rock.

In a separate but related transaction, an adjoining future Dairy Queen site sold for $410,229.

You Scream Properties Sherwood LLC, led by Todd Denton, acquired the 1.17-acre location from McGilvray.

Construction is funded with a five-year loan of $1.17 million from Simmons Bank.

The properties were bought in September 1985 as part of a $4 million deal.

The seller was General Hospitals of Humana Inc. of Louisville, Kentucky.

Academy Acquisition
A 17,150-SF day care facility in North Little Rock changed hands in a $1.15 million transaction.

Little Scholars Academy LLC, led by Michael Johnson, acquired its project at 10910 Maumelle Blvd. The seller is New Life Church of Arkansas Inc., led by Harry Bates.

The deal is financed with a $920,000 loan from One Bank & Trust of Little Rock and a $150,000 loan from New Life.

The 2.06-acre development previously helped secure an August 2008 mortgage of $1.5 million held by Centennial Bank of Conway.

New Life purchased the property for $700,000 in December 2002 from Horace and Barbara Henderson.

Auto Purchase
A 25,835-SF auto facility in south Little Rock rang up a $950,000 sale.

Rice & Rice LLC, led by Jeremy Rice, bought the 3.94-acre Asher Wrecker/Mitchell Motors development at 5909 S. University Ave. and a neighboring 0.85-acre parcel from LL Ark Properties LLC of St. Louis Park, Minnesota.

Rice & Rice also purchased an adjoining 6.09 acres for $158,000 from Automotive Group Realty LLC of Bloomfield Hills, Michigan.

The deals are backed with loans of $950,000 and $157,500 from First Security Bank of Searcy.

LL Ark acquired its property for $900,000 in June 2014 from the Scott A. Landers Revocable Trust.

Automotive Group bought its land for $487,000 in May 2002 from Landers United Auto Group No. 6 Inc.

Smoothie Sale
An 840-SF Tropical Smoothie outlet in North Little Rock is under new own-ership after a $900,000 deal.

DT Smoothie LLC, led by John Hathaway, purchased the project at 2600 Main St. The seller is Tropical Real Estate LLC, led by Glen Johnson.

The deal is funded with a 10-year loan of $720,000 from Simmons Bank. The 0.62-acre development previously was tied to a December 2015 mortgage of $696,000 held by the bank.

The former National Bank of Arkansas branch was acquired for $430,000 11 months ago from Arvest Bank of Fayetteville.

Helmich Buy
A 1,125-SF auto service project in Little Rock’s Hillcrest area drew a $450,000 transaction.

Little Gidding LLC, led by Doug Martin, bought Helmich Auto Service at 2712 Kavanaugh Blvd. from Lisa Rose West and her husband, Stan.

The 0.2-acre development was purchased for $33,000 in May 1977 from Mobil Oil Co. of New York.

Covenant Office
A 6,667-SF office building in North Little Rock sold for $330,000.

Covenant Ministry International acquired the 4524 Burrow Road project from Bells CDC Building LLC, led by Richard Bell.

The 0.83-acre development was bought for $290,000 in August 1999 from Apartment House Builders Inc., led by Reed McConnell.

Chenal Circle
A 5,021-SF home in west Little Rock’s Chenal Circle neighborhood weighed in at $1.2 million.

Bobby and Mary Stewart purchased the house from Ted Snider Jr. and his wife, Jan. The deal is financed with a 30-year loan of $840,000 from Little Rock’s Bank of the Ozarks.

The residence previously was linked with January 2009 mortgages of $417,000 held by Moore Mortgage Inc. of Little Rock and $245,000 held by Delta Trust & Bank of Little Rock.

The Sniders acquired the property for $950,000 in April 2007 from Douglas and Diane Smart.

Woodland’s Abode
A 3,396-SF home in the Woodland’s Edge neighborhood of west Little Rock changed hands in a $525,000 deal.

William and Ginny Mustain bought the house from Mike Kuhn Construction Inc.

The deal is backed with a 30-year loan of $525,000 from Arvest Bank.

The residence previously was tied to a November 2014 mortgage of $381,600 and a December 2015 mortgage of $60,800 held by Bank of Little Rock Mortgage Corp.

The location was purchased for $76,000 two years ago from Rocket Properties LLC, led by Lisenne Rockefeller and Ron Tyne.

Miramar Place
A 3,746-SF home in the Miramar Place neighborhood of west Little Rock’s Chenal Valley development rang up a $520,800 sale.

Steven Wolfe acquired the house from Clinton Properties Inc., led by Bruce Clinton.

The deal is funded with a 30-year loan of $416,640 from BancorpSouth Bank of Tupelo, Mississippi. The residence previously was linked with an April 2015 mortgage of $388,800 held by the bank.

Clinton Properties bought the site for $84,000 in December 2014 from Deltic Timber Corp. of El Dorado.

Rural Residence
A 2,244-SF home in southeast Pulaski County is under new ownership after a $500,000 transaction.

Cynthia Caughron purchased the 15.75-acre spread about 5 miles south of Scott from the Jones Family Living Trust, led by Jeffrey Jones.

The deal is financed with a 30-year loan of $450,000 from One Bank.

The property was acquired for $25,000 in October 1972 from the L.D. McGraw estate.

Million-Dollar Construction

Peak Flow Storage Facility     $13,667,935
5200 Scott Hamilton Drive, Little Rock
Van Horn Construction Inc., Russellville

Repair Parking Deck    $5,500,000
Park Plaza Mall
6000 W. Markham St.
Western Specialty Contractors of America, St. Louis

Primrose School      $2,000,000
1601 Kirk Road, Little Rock
Hart Construction LLC, Searcy

Renovation       $1,950,000
11 Edgehill Road, Little Rock
Jack Hartsell Construction Co., Little Rock

Renovation Surgical Nursing        $1,350,000
Arkansas Children’s Hospital
1 Children’s Way, Little Rock
Nabholz Construction Corp., Conway

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