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Fairfax Crossing Moves in $15.3M Transaction (Real Deals)

4 min read

A 172-unit apartment complex in North Little Rock weighed in at $15.3 million.

Fairfax Crossing Apts LLC of Southlake, Texas, bought its namesake project at 5900 McCain Place from North Little Rock Investors LLC, an affiliate of Wilhoit Properties Inc. of Springfield, Missouri.

The deal is backed with a seven-year loan of $10.2 million from Greystone Servicing Co. LLC of Warrenton, Virginia.

North Little Rock Investors acquired the 17.08-acre development for $8.27 million in November 2017 from North Little Rock Housing Associates Ltd., an affiliate of Alden Torch Financial LLC of Denver.

Mobile Purchase

A 26.09-acre Jacksonville mobile home park tipped the scales at $9.58 million.

Garff Properties Michigan LLC of Salt Lake City purchased the Pine Meadow Mobile Home Park at 3000 John Harden Drive.

The seller is Pine Meadow MHP Jacksonville AR LLC, an affiliate of Vineyard Impact Funds of Sandy, Utah.

Pine Meadow MHP bought the property for $3.4 million in April 2021 from Little Rock Communities LLC, an affiliate of Market Street Capital of Beaufort, South Carolina; and 25 West LLC and Kirk Avenue Ltd., both of Santa Barbara, California.

Take 5 Transaction

A car wash in west Little Rock rang up a $3.09 million sale.

Quinn Family III LLC, led by Johanna Quinn, acquired the Take 5 Car Wash at 19420 Cantrell Road. The seller is Boing US Holdco Inc., an affiliate of Driven Brands of Charlotte, North Carolina.

The deal is funded with a 14-year loan of $1.8 million from Arvest Bank of Fayetteville.

Boing purchased the 1.08-acre site for $825,000 in June 2021 from ERB Holdings LLC, led by Matt Sitton.

Charter Redevelopment

Development of the Arkansas Military & First Responders Academy is trailing behind the $2.91 million sale of a 24.9-acre church property in southwest Little Rock.

Temple Missionary Baptist Church of Little Rock sold its 60,000-SF facility at 10710 Interstate 30 to KLS Leasing II LLC, an affiliate of the Walton Family Foundation.

The property was acquired from Froebel and Anna Lee for an undisclosed sum in April 1968.

Auto Property

The real estate associated with a Sherwood auto dealership drew a $2.2 million transaction.

MMPH Auto Holdings LLC, led by Mark McLarty, purchased the 7,603-SF North Point VW facility at 6000 Landers Road. The seller is Landers Road Development Co. LLC, led by B. Finley Vinson Jr.

Landers Road Development provided a 15-year mortgage of $2.2 million. The 1.99-acre site was bought for $167,000 in October 1984 from Randall Breece.

Church Acquisition

Several commercial buildings in Jacksonville sold for $2 million.

St. Mark Community Church Inc. acquired a 22,234-SF office building and 5,460-SF warehouse at 901 N. First St. and a 6,776-SF O’Reilly Auto Parts at 921 N. First St. from 901 Properties LLC of Roopville, Georgia.

The deal is financed with a three-year loan of $900,000 from First Arkansas Bank & Trust of Jacksonville.

The property was purchased for $702,000 in October 2004 from Jacksonville’s First Electric Corp.

Ferndale Acreage

A 173-acre tract in west Pulaski County is under new ownership after a $1.1 million sale. 

McGeorge Contracting Co., led by Haskell Dickinson II, bought the land south of Kanis Road on the western edge of Ferndale. The seller is Idlewild Corp., led by Brandon Barker.

The land was assembled as part of three transactions with J.C. and E.A. Robbins, $200 in March 1925; Whitney Harb, $500 in January 1938; and Mollie Tunnah, $600 in March 1940.

Office Buy I

A 9,888-SF office building in downtown Little Rock changed hands in a $900,000 deal.

Haybar Properties LLC, led by Bryan Hosto, bought the 900 W. Seventh St. project from Sandyland LLC, led by Prentice O’Guinn III; and 900 West 7th LLC, led by Kevin Huchingson.

The 0.52-acre development was bought for $450,000 in March 2014 from Mar-Lis Properties LLC, led by Mark Leggett.

Mini Location

A future mini-storage site in south Little Rock rang up a $525,000 transaction.

Brookwood-University LR LLC, an affiliate of Brookwood Properties in Baton Rouge, acquired the 1.94-acre location at 4520 S. University Ave. The seller is Darragh Investment Co. LLC, led by Kramer Darragh.

The land was purchased for an undisclosed sum in December 1944 from the estate of T.N. Robertson.

Office-Warehouse Deal

An 11,150-SF office-warehouse project in east Little Rock drew a $320,000 deal.

Arkansas Electric Service & Contracting Inc., led by Barry Henderson, bought the 1115 Bond St. project from James Osborne. 

Osborne assembled the 0.56-acre property for $40,407. The sellers were Eldren and Athalee Taylor, $30,000 in July 1977; Rosie E. Washington, Fred Enoch, Sarah Enoch and C.B. Enoch, $9,407 in December 1980; and James and Jeanette Harrison, $1,000 in December 1980.

River City Turbo 

A 4,000-SF warehouse in Little Rock sold for $225,000.

River City Turbo Inc., led by Christopher Wherry, purchased the 8501 Distribution Drive project from Joanne Homeyer.

The 1-acre site was bought for $6,000 in September 2002 from St. Vincent Infirmary Development Foundation, led by Nan Selz.

Office Space

A 1,500-SF office in west Little Rock is under new ownership after a $210,000 transaction.

EGP Holdings LLC, led by Lindsey Baker, Bruce Engstrom, Angela Frazier, Jeff Crone and Todd Brown, acquired the space at 11809 Hinson Loop Road from the Marilyn M. Henry Revocable Trust.

The deal is backed with a five-year loan of $210,000 from Arvest Bank. The office space was purchased for $168,000 in February 1997 from Ramsey/Irwin LLC, led by Walter Ramsey and James Irwin.

PV Residence

A 4,983-SF house in west Little Rock’s Pleasant Village neighborhood tipped the scales at $1.25 million.

Brian Langford and Lauren Hendrix bought the house from Stephen and Honor Canon. The deal is funded with a 30-year loan of $1.1 million from Centennial Bank of Conway.

The Canons acquired the residence for $612,000 in August 2010 from the Jeanette Simmons Fowler Revocable Trust.

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