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Future Bank of the Ozarks HQ Site Draws Deals Totaling $12M-Plus (Real Deals)

5 min read

Land for a corporate campus in west Little Rock was assembled in deals totaling $12.57 million.

Little Rock’s Bank of the Ozarks Inc. acquired about 46.2 acres of mostly undeveloped property in a series with:

  • Ranch Properties Inc., led by Ed Willis, 23.53 acres for $7.88 million;
  • FCC Tract D Partnership, also led by Willis, 13.41 acres for $3.11 million;
  • Saddle Creek Church, the 8.18-acre church campus at 18020 Cantrell Road for $1.4 million; and
  • FC Grass Farms LLC, led by Willis, 1.06 acres for $169,222.

The church property was purchased for $205,000 in June 1995 from the Pulaski County Baptist Association Inc.

The rest of the land was bought in August 1984 as part of a $2.15 million deal with Johnson Land Co., led by Glenn H. Johnson.

Industrial Transaction

A 70,000-SF industrial building in Jacksonville tipped the scales at $2.5 million.

Jacksonville Chamber Foundation Inc., led by Mike Wilson, purchased the 1809 Swift Drive project to house production of SIG Sauer’s elite performance ammunition. The seller is Meador Brother’s LLC Co., led by Greg Meador.

The deal is funded with a 10-year loan of $2.5 million from First Arkansas Bank & Trust of Jacksonville.

The 8.57-acre development previously was tied to an April 2008 mortgage of $2.7 million and August 202011 mortgages totaling $400,000 held by First State Bank of Russellville.

The land was acquired for $85,700 in March 2005 from the city of Jacksonville.

Convenient Buy I

A 4,742-SF convenience store in Little Rock weighed in at $950,000.

Han & Son Inc., led by Keong Suk Son, bought the Superstop project at 3100 W. Roosevelt Road and an adjoining undeveloped 1.76-acre parcel. The seller is Kim Properties LLC, led by Grace Kim.

The deal is backed with a three-year loan of $712,500 from First Arkansas

Bank & Trust and a one-year loan of $120,000 from Kim Properties.

The property was assembled in two deals totaling $180,000.

The sellers were McDonald’s Corp. of Oak Brook, Illinois, $120,000 in October 2003, and Razorback Bail Bonds Inc., led by Ronald Oliver, $60,000 in May 2004.

Warehouse Acquisition

A 38,000-SF warehouse project in east Little Rock sold for $835,000.

Ben Davis Properties Management LLC, led by Ben and Diane Davis, acquired the 3101 Dugan Drive project. The seller is ABP AR (Little Rock) LLC, an affiliate of Bluelinx Corp. of Atlanta.

The deal is financed with a five-year loan of $709,750 from Community First Bank of Pea Ridge (Benton County).

The 9.31-acre development previously helped secure a June 2006 mortgage of $295 million held by German American Capital Corp. of New York.

The land was assembled in two transactions with the Chicago, Rock Island & Pacific Railroad Co., $8,500 in January 1965 and $5,000 in February 1973.

Retail Purchase

A 5,440-SF retail project in downtown North Little Rock changed hands in a $650,000 deal.

Kiyen Investments LLC, led by Kiyen Kim, purchased the Argenta Market at 521 Main St. The seller is Old Silver City LLC, led by John Gaudin.

The deal is funded with a four-year loan of $536,000 from One Bank & Trust of Little Rock.

A 0.24-acre development previously was linked with a January 2007 mortgage of $690,000 held by Summit Bank of Arkadelphia.

The property was acquired for $350,000 in May 2006 from Bell Thacker Enterprises LLC, led by Ian Thacker.

Convenient Buy II

A 3,082-SF convenience store in North Little Rock rang up a $500,000 sale.

8701 Maumelle LLC, led by Mohammad Honarmand, bought the closed Citgo at 8701 Maumelle Blvd. The seller is J.N.H.L.M. Inc., led by David Jones.

The deal is backed with a five-year loan of $425,000 from the seller.

The 1.36-acre location was purchased for $494,000 in July 1987 from William Putnam.

Recycled Office

An 11,700-SF office building in Maumelle drew a $490,000 transaction.

Vision Outdoor Media LLC, led by William and Sharon Smith and Ronald and Glenda Smith, acquired the former Maumelle Athletic Club at 2 Country Club Circle from Centennial Bank of Conway.

The deal is financed with a three-year loan of $444,000 from Bear State Bank of Little Rock.

Karmmik LLC, led by Mark and Kim Bingman, forfeited the 2.37-acre development to Centennial in June 2014 in lieu of foreclosure.

The property was tied to a November 2008 mortgage of $1.4 million originated by Jonesboro’s Liberty Bank of Arkansas.

Mini-Storage Land

An undeveloped 4-acre parcel in Sherwood is under new ownership after a $300,000 sale.

Mini Storage Service Co. LLC, led by Terry Bean, purchased the land near the southeast corner of Manson Road and Jan Drive. The seller is Meyer Rentals LLC, led by Keith Meyer.

The property is helping secure a five-year loan of $1.2 million from First Security Bank of Searcy.

The Meyer family has owned the property for more than 36 years.

Prospect Abode

A 2,816-SF home in Little Rock’s Prospect Terrace neighborhood sold for $795,000.

Susanna Shermer and Mechan Vanderpool bought the house from David Weed. The deal is funded with a 30-year loan of $636,000 from Regions Bank of Birmingham, Alabama.

The residence previously was linked with October 2015 mortgages of $417,000 and $227,800 held by Simmons Bank of Pine Bluff.

The property was purchased for $449,000 in February 2002 from AC/DC Investments Ltd., led by Angie and Dennis Cooper.

Woodland’s House

A 4,925-SF home in the Woodland’s Edge neighborhood of west Little Rock changed hands in a $705,000 deal.

Nicholas and Jamie Booker acquired the house from the Michael and Valerie Moran Family Revocable Trust.

The deal is backed with a 30-year loan of $564,000 from Regions Bank.

The residence previously was tied to a November 2012 mortgage of $416,250 held by Arvest Mortgage of Lowell.

The location was bought for $58,000 in February 2012 from RLA Watkins Ltd., led by Robert and Lauren Watkins.

Courts Residence

A 4,680-SF home in The Courts neighborhood of west Little Rock’s Chenal Valley development rang up a $537,500 sale.

Nawab and Akhtar Ali purchased the house from Thomas and Jennifer Pledger.

The deal is financed with a 15-year loan of $417,000 from First Financial

Bank of El Dorado. The residence previously was linked with a June 2015 mortgage of $352,000 from BNC National Bank of Glendale, Arizona.

The Pledgers acquired the property for $450,000 in December 2013 from One Bank.

Foxcroft Home

A 3,366-SF home in Little Rock’s Foxcroft neighborhood drew a $530,000 transaction.

Michael and Sara Koger bought the house from the namesake revocable trusts of James and Meredith Hugg.

The deal is funded with a 30-year loan of $380,000 from Bank of Little Rock Mortgage Corp.

The residence previously was tied to a February 2013 mortgage of $367,000 held by BOKF of Tulsa.

The Huggs purchased the property for $375,000 in June 2006 from Jon Sharon Bailey.

Eight-Digit Construction

Landmark Apartments   $19,400,000
16000 Rushmore Ave., Little Rock
VCC LLC, Little Rock

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