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Dormant VA Hospital Visited by $2.7M Sale (Real Deals)Lock Icon

5 min read

The former Veterans Administration Hospital in downtown Little Rock weighed in at $2.75 million.

Princeton Place Apartments LLC, an affiliate of Pace Burt Inc. of Albany, Georgia, acquired the 11-story building at 300 E. Roosevelt Road from the Institute in Basic Life Principles Inc. of Hinsdale, Illinois.

The 6.82-acre piece of the old VA complex purchased by the limited liability company for a loft apartment redevelopment was part of a $300,000 deal in 1998.

Hob-Lob Ltd., led by Steve Green, the son of David Green, founder and president of Oklahoma City-based Hobby Lobby Creative Centers, bought the dormant hospital development from Pulaski Properties Inc., led by Frances M. Post.

The limited partnership donated the property in December 1999 to the Institute in Basic Life Principles.

Commercial Purchase

The former Cactus Jacks eatery in west Little Rock tipped the scales at $2.45 million.

Markham Little Rock LLC of New Bedford, Massachusetts, purchased the 5,175-SF Aspen Dental and Cornerstone Pharmacy project at 11414 W. Markham St. from RCG-Markham LLC, an affiliate of Atlanta’s Restaurant Consulting Group.

The 0.58-acre development was bought in December 2019 as part of the $19 million acquisition of the Markham West Shopping Center from Weingarten/Investments Inc. of Houston.

Coffee Acquisition

A 1,748-SF coffee shop in Jacksonville rang up a $1.79 million sale.

Countryside Gardens LLC of Springfield, Virginia, bought the Starbucks at 2090 John Harden Drive from Baugh Corp. of El Dorado Hills, California.

The deal is financed with a five-year loan of $1.3 million from Eagle Bank & Trust of Little Rock.

The 0.52-acre development was purchased for $1.7 million in December 2017 from the 2002 White Family Trust, led by Lynda White.

Hotel Transaction

An 82-room hotel in downtown Little Rock changed hands in a $1.68 million deal.

Hotel Le Rock LLC, led by Parth Patel, purchased the Hotel Frederica at 625 W. Capitol Ave. The seller is SHG Management LLC, led by Parimal Patel.

The 0.96-acre development was bought for $2.8 million in August 2016 from Southern Comfort Inns Inc., led by Amin Amarshi.

Restaurant Duo

Neighboring eateries near the University of Arkansas at Little Rock sold for $1.2 million.

SE-ARLR1 LLC, an affiliate of Sridhar Equities of San Jose, California, acquired the 3,276-SF Burger King at 3300 S. University Ave. and the 2,747-SF Go Go China at 3218 S. University Ave. The seller is Fairmont Inc., led by Olivia Carpenter.

The deal is funded with a five-year loan of $522,000 from Armor Bank of Forrest City.

Fairmont purchased the 2.77-acre property for $484,000 in January 1977 from Belz Investment Co. of Memphis.

Land Buy

A 1.74-acre site in Maumelle is under new ownership after a $600,000 deal.

Jas & Tash LLC, led by Indersit Singh, and Ranveer & Reet LLC, led by Pritpal Singh, bought the land at the northeast corner of White Oak Crossing and Diamond Park Lane in a 67-33 ownership split from David and Sherry Starkey and Teresa Miller.

The property was acquired for $300,000 in September 2016 from Country Club Development LLC, led by John Wright.

Industrial Investment

A 14,455-SF industrial facility in west Little Rock drew a $550,000 transaction.

M3 Capital LLC, led by Mark McCaslin, purchased the Southern Fastening Systems project at 10624 Otter Creek East Blvd. from the Jack C.L. Oliphant Revocable Trust.

The 0.84-acre site was bought for $31,000 in December 1984 from Otter Creek Development Co., led by Robert Light and Luke Quinn.

Dental Deal

A 1,621-SF dental office in the Hillcrest area of Little Rock rang up a $425,000 sale.

Arkansas Family Dental Properties LLC, led by Tina Nichols and Samaria Mascagni, acquired the 619 N. Beechwood St. project. The seller is Sled Dog LLC, led by John Pitts.

The deal is backed with a 25-year loan of $2.1 million from Arvest Bank of Fayetteville.

The 0.16-acre development was purchased for $295,000 in August 2010 from Hillcrest Properties Inc., led by Kelley Johnson.

PV Residence

A 6,520-SF home in west Little Rock’s Pleasant Valley neighborhood weighed in at $1.09 million.

Jason and Virginia Waters bought the house from Tejas and Mauli Patel. The deal is financed with a 30-year loan of $510,000 from Simmons Bank of Pine Bluff.

The Patels acquired the residence for $1.2 million in April 2016 from Larry Wood.

Robinwood Abode

A 5,836-SF home in Little Rock’s Robinwood neighborhood changed hands in a $875,000 deal.

Eugene Barham III and Gregory Packer purchased the house from Vick Hall. The deal is funded with a 30-year loan of $475,000 from Cornerstone Home Lending Inc. of Houston.

The residence was bought for $635,000 in June 2004 from the Paula M. Edick Revocable Trust.

Riviera Condo

A 2,866-SF condominium in the Riverdale area of Little Rock sold for $740,000.

Clifford and Elizabeth Fullerton acquired the 10th-floor residence at 3700 Cantrell Road from Riviera Partners LLC, led by Randy Mourot.

The deal is backed with a 15-year loan of $500,000 from JPMorgan Chase Bank of Columbus, Ohio.

The 123,976-SF Riviera Building was purchased for $6.6 million in April 2007 from Heartland Properties Corp., led by Larry McCraw.

Accadia Court I

A 4,181-SF home in west Little Rock’s Accadia Court neighborhood is under new ownership after a $710,000 deal.

Robert Woller bought the house from the Margrave Family Revocable Living Trust, led by Andrea and William Margrave. The deal is financed with a 30-year loan of $500,000 from Encore Bank of Little Rock.

The location was acquired for $95,500 in January 2014 from Deltic Timber Corp. of El Dorado.

The Courts

A 4,270-SF home in The Courts neighborhood of west Little Rock drew a $580,000 transaction.

Elias and Amanda Alley purchased the house from Rebecca Rice. The deal is funded with a 30-year loan of $493,000 from Bank of Little Rock Mortgage Corp.

Rice bought the residence for $530,000 in January 2007 from Byron Holmes Construction Inc.

Accadia Court II

A 3,407-SF home in west Little Rock’s Accadia Court neighborhood rang up a $560,000 sale.

Danny and Kristy Rodriguez acquired the house from Bobby and Deborah Kersh. The deal is backed with a 15-year loan of $410,000 from Eagle Bank & Trust.

The location was purchased for $104,000 in December 2008 from Deltic Timber.

Lamarche Place

A 4,609-SF home in west Little Rock’s Lamarche Place neighborhood changed hands in a $520,000 deal.

Edward and Amanda Davis bought the house from the Vance & Angela Smiley Revocable Trust. The deal is financed with a 30-year loan of $490,000 from U.S. Bank of Cincinnati.

The residence was acquired for $510,000 in December 2006 from Susan Miller.

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