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D1 Development Attracts $3.1 Million Transaction (Real Deals)

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An 18,000-SF athletic training facility in west Little Rock tipped the scales at $3.1 million.

Store Master Funding X LLC, an affiliate of the Store Capital real estate investment trust in Scottsdale, Arizona, purchased the D1 project at 10 Viewpointe Cove. The seller is WB Sports of Little Rock LLC, led by Will Bartholomew.

The 1.75-acre development previously was tied to a February 2014 mortgage of $2.8 million held by First Bank of Nashville, Tennessee.

The location was acquired in July 2007 as part of a $697,000 deal with Linda and Gene Pfeifer and Jim Hathaway Jr. and his wife, Gay.

Warehouse Purchase
A 104,000-SF warehouse in Little Rock weighed in at $1.9 million.

A local investment group doing business as 2200 Commercial Street Warehouse LLC bought its namesake project. The seller is 2200 Commercial Street Warehousing LLC, led by Mark Babbitt.

The 4.9-acre development was purchased for $328,000 in July 2004 from Alliant Foodservice Inc. of Deerfield, Illinois.

Storage Site Sale I
Land for a mini-storage development in west Little Rock changed hands in a $1.5 million sale.

Rodney Parham Storage Center LLC, led by Bruce Clinton, acquired the 3.69-acre former Green Tree Nursery at 9305 N. Rodney Parham Road.

Construction is backed with a five-year loan of $4.2 million from Citizens Bank of Batesville.

The seller is the Kerney R. Clinton & Helen S. Clinton Joint Revocable Trust.

The Clinton family bought the land for $88,000 in August 1974 from Richard and Gertrude Butler.

Storage Site Sale II
A 7.26-acre mini-storage development in west Pulaski County is in motion after an $840,000 land deal.

Markham Park LLC, led by Graham Smith, purchased the site near the southwest corner of Highway 10 and Ferndale Cutoff Road. First-phase construction of 275 units is financed with a five-year loan of $1.8 million from Arvest Bank of Fayetteville.

The seller is Farmers & Merchants Bank of Stuttgart, which inherited the property through the 2008 acquisition of Chart Bank of Perryville.

Chart Bank bought the land for $1 million in December 2003 from Sam Hollowell Jr. and his wife, Barbara, and Herman and Frances Rowland.

Sherwood Parcel
An 8.2-acre parcel in Sherwood rang up a $705,000 sale.

Steven and Stephanie Deere acquired the land near the northeast corner of Highway 107 and Kellogg Acres Road from Bear Paw LLC. The limited liability company is composed of Powell Brothers Inc., led by Matt Chandler; Rob Jolly Jr.; Matt Enderlin; Jimmy Crossfield; Scott Jolly; Brad Jolly; the Jamie Lazenby Bernt Share of the Lazenby Family Trust; Blake Lazenby and the Blake William Lazenby Share of the Lazenby Family Trust.

The deal is funded with a $705,000 loan from Centennial Bank of Conway.

The land previously helped secure a $3.3 million mortgage held by the bank.

The land was purchased in June 2007 as part of a $3.6 million deal with Sherwood Land Co., led by Steven Deere.

Convenient Acquisition
A 2,000-SF convenience store in southwest Little Rock drew a $620,000 transaction.

OM Business Inc., led by Balaji Thota, bought the Phillips 66 project at 8209 Geyer Springs Road from Pong Monk.

The deal is backed with a five-year loan of $326,675 from Simmons Bank of Pine Bluff.

The 0.59-acre development previously was linked with a July 2006 mortgage of $350,000 held by Metropolitan National Bank of Little Rock.

The property was acquired in June 2006 as part of a $700,000 deal with Marion Nash.

Jacksonville Project
A 4,000-SF office-warehouse in Jacksonville is under new ownership after a $150,000 sale.

M&M Heating & Air Inc., led by James Miles, purchased the 1010 S. Redmond Road project from Robert D. Smith.

The deal is financed with a $123,250 loan from Centennial Bank.

The 0.44-acre location was bought for $40,000 in July 2012 from the North Pulaski Waterworks Public Facilities Board, led by Steve Fikes.

Monster Manor
A 12,449-SF home in North Little Rock’s Parkhill neighborhood tipped the scales at $1.28 million.

Richard and Patricia Elimon acquired the 5.5-acre spread from Centennial Bank.

The bank recovered the residence 10 months ago from John and Angelica Rogers at a $1.25 million foreclosure sale.

The house previously secured a February 2008 construction loan with an outstanding balance of more than $1.9 million held by Centennial.

The location was purchased for $424,000 in June 2007 from the Joy H. Stevens Revocable Trust.

Hillcrest Home
A 3,416-SF home in the Hillcrest area of Little Rock sold for $695,000.

Matt and Jennifer Estes bought the house from Gary and Margaret Faulkner. The deal is funded with a 30-year loan of $556,000 from Morgan Stanley Private Bank of Purchase, New York.

The residence previously was tied to an April 2004 mortgage of $460,000 held by One Bank & Trust of Little Rock.

The Faulkners acquired the property for $458,000 in May 2003 from Richard and Mary Knox.

Estates Sale
A 5,742-SF home in west Pulaski County’s Ridgefield Estates neighborhood changed hands in a $649,000 deal.

James Alexander purchased the house from the Francis & Mary Browning Revocable Trust.

The deal is backed with a five-year loan of $661,293 from Simmons Bank.

The Brownings bought the 5.3-acre location for $70,000 in February 2003 from William and Cathryn McKinney.

Arbors House
A 4,704-SF home in The Arbors neighborhood of west Little Rock’s Chenal Valley development rang up a $625,000 sale.

George Granville Gleason III acquired the house from the Bilal Malik & Sadaf Bhutto Living Trust.

The property was purchased for $809,000 in June 2006 from Byron Holmes Construction Inc.

PV Residence
A 3,477-SF home in west Little Rock’s Pleasant Valley neighborhood drew a $610,000 transaction.

The Oma Gay Rush Living Trust bought the house from Alfred and Mary Norah.

The residence previously was linked with a January 2005 mortgage of $332,250 held by IndyMac Bank of Pasadena, California. The Norahs acquired the property for $365,000 in April 1999 from John and Tracy Criss.

Wellington Abode
A 4,243-SF home in the Villages of Wellington neighborhood in west Little Rock sold for $533,000.

John and Marie Rians purchased the house from Terry Brown.

The deal is financed with a 26-year loan of $533,000 from Regions Bank of Birmingham, Alabama. The residence previously was tied to a March 2015 mortgage of $379,000 held by BOKF of Tulsa.

Brown bought the property for $520,000 in August 2010 from the C. Dwayne & Jennifer M. Shelton Family Trust.

First-phase construction of a 1,300-unit mini-storage development in west Little Rock is in motion with a $3.2 million funding agreement.

Modern Storage West Little Rock LLC, led by Keith Richardson, obtained the loan from First Security Bank of Searcy.

The 8.12-acre location near the northeast corner of Autumn Road and Financial Centre Parkway was acquired for $748,703 in January 2015 from Iron Horse Estate Partnership, led by Fletcher Clement.

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