Food Distribution Sale Registers $13 Million (Real Deals)

(Google Maps)

A sale-leaseback of a 212,000-SF cold storage-distribution warehouse complex in Little Rock weighed in at $13 million.

4901 Asher Owner LLC, an affiliate of New York’s Box Equities, bought its namesake address from QFI-Little Rock AR LLC, an affiliate of Performance Food Group of Richmond, Virginia.

The deal is funded with an $8 million loan from Arvest Bank of Fayetteville.

QFI purchased the 41.82-acre development for $12.3 million in March 2004 from six limited liability companies controlled by the heirs of Quality Foods founder Don Kirkpatrick.

The list includes Kirkpatrick Real Properties, led by Carolyn Kirkpatrick, 51%; and DO Kirk Properties, led by Don Kirkpatrick Jr., 41%. The remaining 8% was split among DK Iso Properties LLC, led by Donna K. Isom; DK Mak Properties, led by Deborah K. Makris; GK Tap Properties LLC, led by Gina K. Tappan; and NL Kirk Properties LLC, led by Don Kirkpatrick Jr.

Convenient Sale

A 6,531-SF convenience store in Maumelle tipped the scales at $1.2 million.

Surano Properties LLC, led by Sulaiman Hudda, acquired the EZ Mart at 760 Edgewood Drive from High Time Ventures LLC of Spring, Texas.

High Time Ventures provided a $733,876 mortgage to finance the deal.

The 1-acre site was bought for $300,000 in November 2020 from Greatstone Thirty Inc. of Dallas.

Office & More

A 4,020-SF office building and land in west Little Rock sold for $1.05 million.

Rock Grace LLC, led by Qiaoli Lei, purchased the 15108 Pride Valley Road project and an adjoining 0.24-acre parcel. The seller is Bethel Holdings LLC, led by John Gathright and William Woodyard Jr.

Bethel Holdings acquired the 0.48-acre development and land for $535,000 in December 2018 from Corco Investments LLC, led by Boyd Corley, Justin Bennett and Jon Virden.

Office-Warehouse Buy

A 14,455-SF office-warehouse in west Little Rock drew a $1.03 million transaction.

Kinsel Motors Inc. of Beaumont, Texas, bought the 10624 Otter Creek East Blvd. project from M3 Capital LLC, led by Mark McCaslin.

The deal is backed with a five-year loan of $824,000 from Truist Bank of Charlotte, North Carolina.

M3 Capital purchased the 0.84-acre development for $550,000 in September 2021 from the Jack C.L. Oliphant Revocable Trust.

Future Bank Branch

A 2.15-acre commercial site in Maumelle rang up a $936,540 sale.

First Service Bank of Greenbrier acquired the land near the northwest corner of White Oak Crossing and Commerce Cove from Gosen LLC, led by Joseph Park.

Gosen bought the property in November 2016 as part of a $775,000 deal with Country Club Development LLC, led by John T. Wright.

Multifamily Sale

Two apartment buildings in North Little Rock changed hands in a $630,000 deal.

Red Dog Management LLC, led by Jared Johnson, purchased 10 units at 4713 and 4801 Hickory Ave. from William and Alisa Copeland.

The Morden Revocable Trust, led by Billy Morden, provided a $630,000 mortgage to fund the deal.

The combined 0.64-acre development was acquired for $430,000 in September 2021 from Michael Glaze Investments LLC.

Duplex Duo

Two duplexes in North Little Rock are under new ownership after a $400,000 transaction.

M&S Apartments LLC, led by Mark and Susan Reynolds, bought 202 and 204 E. B Ave. from the Jim & Nina Orsini Living Trust.

The deal is financed with a five-year loan of $400,000 from Encore Bank of Little Rock.

The Orsinis purchased the two 0.14-acre developments for $71,000 from Theo and Alene Stathakis in January 1973 and Tom and Mary Orsini in August 1997.

Prospect Terrace

A 3,546-SF home in Little Rock’s Prospect Terrace neighborhood weighed in at $1.2 million.

Matthew and Allison Dinehart acquired the house from Douglas Jackson Sr. and his wife, Mary Beth.

The deal is backed with a 30-year loan of $960,000 from the Pino Revocable Trust.

The Jacksons bought the residence for $505,000 in December 1999 from William and Priscilla Hamilton.

Cammack Woods

A 3,456-SF home in Cammack Village sold for $835,000.

Deidre Wyrick purchased the house from HBH Builders Inc., led by Howard Boyce Holmes.

The deal is funded with a 30-year loan of $835,000 from Simmons Bank of Pine Bluff.

HBH Builders acquired the property for $215,000 in December 2021 from Kavanaugh Fine Homes LLC, led by Lloyd Mourning and Brett McKnight.

Canal Pointe

A 3,318-SF home in Little Rock’s Canal Pointe neighborhood drew an $822,000 transaction.

Douglas Jackson Sr. and his wife, Mary Beth, bought the house from Rebecca Ward.

The deal is financed with a 30-year loan of $180,000 from Encore Bank.

Ward purchased the location for $128,000 in October 1998 from Pleasant Valley Inc., led by Marion Burton.

Ranch Hill

A 3,806-SF home in Little Rock’s Ranch Hill neighborhood rang up a $780,200 sale.

Cody and Caitlyn Bryan acquired the house from the Shelby Family Revocable Trust, led by Michael and Aimee Shelby.

The deal is backed with a 15-year loan of $624,160 from Bank of England.

The Shelbys bought the residence for $635,000 in July 2013.

The seller was the 300 McMillan Trail Trust, led by Andrew and Jennifer Adkins.

Cliffewood Abode

A 2,736-SF home in Little Rock’s Cliffewood neighborhood changed hands in a $775,000 deal.

The Ramona Revocable Trust, led by Billy and Jan Haynes, purchased the house.

The seller is the Henry & Jeanne Barham Family Revocable Trust.

The Barhams acquired the residence for $655,000 in March 2017 from Tyler Kirk.

PV Residence

A 4,302-SF home in west Little Rock’s Pleasant Valley neighborhood is under new ownership after a $746,000 transaction.

John and Sukhmani Scott bought the house from Dustin Pitonyak.

The deal is funded with a 24-year loan of $746,000 from Regions Bank of Birmingham, Alabama.

The residence was purchased for $430,000 in May 2004 from Calvin and Betsy Hagan.