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Denver Firm Pays $6M For Westgate Center (Real Deals)

5 min read

The sale of a 53,000-SF retail center in Little Rock weighed in at $6 million.

Westgate Baceline LLC, an affiliate of Baceline Investments of Denver, bought the Westgate Shopping Center at 6813 Cantrell Road from Weingarten Nostate Inc. of Houston, Texas.

The deal is financed with a $4.2 million loan from KeyBank of Cleveland.

The 4.66-acre site was assembled as part of two transactions with D.H. Garner, $165,000 in May 1964; and the estate of Ernest Efird, $110,000 in October 1982.

Warehouse Conversion

A 43,798-SF retail building is undergoing redevelopment as a warehouse after a $1.2 million deal.

DT Real Estate LLC, led by Rory Thompson and Kyle Dalton, acquired the former Harvest Foods store at 7725 Hwy. 107.

The seller is JFK Land LLC, led by Rick Ashley.

The project is backed with a four-year loan of $3.3 million from Centennial Bank of Conway.

JFK Land bought the property in June 2001 as part of a $1.45 million deal with Excel Realty Trust-ST Inc. of New York.

Warehouse Transaction

A 12,175-SF office-warehouse project in the Riverdale area of Little Rock changed hands in a $714,000 sale.

BNT Properties Corp., led by Billy Cobb, purchased the All Natural Stone project at 2225 Cottondale Lane. The seller is Mousa Family Properties LLC, led by Sam Mousa.

The deal is funded with a 15-year loan of $1.18 million from Arkansas Capital Corp. of Little Rock.

The 0.82-acre development previously was tied to August 2005 mortgages of $300,000 and $495,000 held by Little Rock’s Bank of the Ozarks.

Mousa Family acquired the property for $625,000 in June 2002. The seller was Riverbend Associates LLC, led by Richard McIlroy.

Warehouse Land

A 5.15-acre industrial site in southwest Little Rock drew a $200,000 transaction.

Rogers Warehouse Development IV LLC, led by Ivan Crossland Jr. of Columbus, Kansas, bought the site at the south side of 11205 Otter Creek South Road. The seller is Accommodator Properties LLC, led by Richard Barrett.

The deal is financed with a one-year loan of $200,000 from Arvest Bank of Fayetteville.

The land previously helped secure a March 2007 mortgage of $471,700 held by the bank.

Accommodator purchased the property more than eight years ago as part of an $873,000 transaction with Alawest-AI LLC of Northport, Alabama, led by Gene Taylor.

Warehouse Purchase

A 19,172-SF office-warehouse project in Little Rock’s Central High neighborhood rang up a $162,000 sale.

Moxy Warehouse Holding Co. LLC, led by Lara Kahler, acquired the 2615 W. 15th St. property. The seller is Love Truth Care Inc., led by Jim Phillips.

The 1.03-acre development was bought for an unreported sum in November 1996 from Black Equities, led by Stanley and Jack Black.

Hillcrest Manor

A 5,582-SF manor in Little Rock’s Hillcrest neighborhood tipped the scales at $1.08 million.

Jauss Living Trust, led by Steven and Kewen Jauss, purchased the home from Robert and Josephine Covington.

The deal is backed with a 30-year loan of $864,000 from IberiaBank Mortgage Co. of Little Rock.

The residence previously was linked with a January 2009 mortgage of $200,000 held by Bank of the Ozarks and a November 2011 mortgage of $398,736 held by Wells Fargo Bank of Sioux Falls, South Dakota.

The Covingtons acquired the property for $775,000 in January 2009 from The Melsosa Revocable Trust, led by Melissa Baker.

Woodlands Buy I

A 4,920-SF home in west Little Rock’s Woodlands Edge neighborhood is under new ownership after a $620,000 deal.

Chris and Debra Wewers bought the house from Hometime Builders Inc., led by Jim Hastings. The deal is funded with a 30-year loan of $417,000 from First Community Bank of Batesville.

The residence previously was tied to a May 2014 mortgage of $464,000 held by BancorpSouth Bank of Tupelo, Mississippi.

Hometime Builders purchased the site for $78,000 13 months ago from Rocket Properties LLC, led by Ron Tyne and Lisenne Rockefeller.

LaMarche Abode

A 4,770-SF home in the LaMarche Place neighborhood of west Little Rock’s Chenal Valley development sold for $527,000.

Bradley and Nicole Kaemmerling acquired the house from the Joe Bill Yee Revocable Trust and Suzanne Wong Yee Revocable Trust.

The deal is financed with a 30-year loan of $417,000 from Eagle Bank & Trust of Little Rock.

The Yees bought the location for $68,000 in March 2000 from R.B. Ferguson Custom Homes, led by Randy Ferguson.

Woodlands Buy II

A 3,211-SF home in west Little Rock’s Woodlands Edge neighborhood changed hands in a $502,000 deal.

Ricky and Judy Jacobs purchased the house from Sharlow Builders & Developers LLC, led by Reggie Clow.

The deal is backed with a 30-year loan of $402,000 from Bank of Little Rock Mortgage Corp. The residence previously was linked with a November 2013 mortgage of $408,000 held by One Bank & Trust of Little Rock.

Sharlow Builders acquired the site for $69,000 in November 2013 from Rocket Properties.

Kaufman Mortgage

A lumber and home improvement enterprise in Little Rock landed a $4.5 million funding agreement.

Kaufman Lumber Co., led by Steve Wortman, received the three-year loan from Relyance Bank of Pine Bluff.

The Kaufman Lumber facility at 5100 Asher Ave. and the Kaufman by Design project at 2511 W. Seventh St. previously were tied to a May 2011 mortgage of $4.6 million held by First Security Bank of Searcy.

The nearly 8.9-acre Kaufman Lumber property was assembled in more than a dozen buys totaling $772,000.

During the 1980s and 1990s, the sellers were Joe and Mary Kaufman, $450,000 in September 1985; Jimmy and Judy Heavrin, $45,000 in November 1980; Lorenz and Pegge Jo Merkel, $28,000 in February 1984; Dorothy Atchley, $25,000 in September 1991; Clara Ketcher, $18,000 in October 1985; Julia McDaniel, $15,000 in June 1981; Inez Treadway Cole, $15,000 in June 1987; and E.L. and Olarene Sowell, $10,000 in December 1988.

The property was expanded in deals with Deverick and Gilda Green, $64,000; the estate of John Caffey, $35,000; and the estate of Ellis Throckmorton, $3,000, all in September 2003; Stella Hood and her Hood & Co., $20,000 in November 2003; James M. Brown Jr., $20,000 in February 2004; and Fred and Nona Blazer and their Lyman Lumber Co., $25,000 in December 2012.

The 3.3-acre Kaufman by Design development at 2511 W. Seventh St. was bought for $344,000 in August 1998 from Monarch Mill & Lumber Co., led by Darlene Carvin.

New Office Building

Construction of a 28,000-SF office building in downtown Little Rock is in motion with a $3.94 million financial package. 301 Main LLC, led by Dave Bruning, obtained the 20-year loan from BancorpSouth Bank.

The former site of Mr. Cool’s Clothing at 301 Main St. was purchased in a deal valued at $385,000 two months ago from Crystal LLC, led by Doug and Sheree Kaufman Meyer.

Crystal LLC bought the 0.16-acre property in a deal valued at $120,000 in September 2013 from the Joseph J. Kaufman Revocable Trust. The Kaufman family acquired the 7,000-SF store for $50,000 in March 1995 from the estate of Andre Simon.

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