Industrial Transaction Produces $1.1M Sale (Real Deals)

A tenant turned owner after buying a piece of North Little Rock for $1.1 million.

Bruce Oakley Inc., led by Dennis Oakley, bought the former Southern Cotton Oil Co. complex at 324-325 Buckeye St. from the city of North Little Rock.

The 16.5-acre development with rail spur access includes five storage sheds of 66,000 SF, 39,468 SF, 28,500 SF, 20,400 SF and 9,600 SF plus a 2,913-SF office building.

Archer-Daniels-Midland Co. of Chicago donated the property to the city in June 2003.

Proceeds from the sale are going to help fund improvements at the North Little Rock Municipal Airport.

Windsor Gardens

Twenty-four apartments-turned-condo are under new ownership after an $862,150 foreclosure sale.

Makan Holdings LLC, led by Sadiq Ali, recovered the Windsor Gardens units at 1601 N. Bryant St. from GK Properties LLC, led by Glenn Kubeczka.

The units previously were linked with a January 2016 mortgage of $858,353 held by CB2 LLC, led by Chris Roberts, John Olaimey and Rick Ferguson.

The project originally was secured by an April 2005 mortgage of $2.5 million held by Centennial Bank of Little Rock.

GK Properties bought the former apartments more than 15 years ago as part of a 56-unit, $2.5 million deal with Windsor Arms Apartments LLC, led by David Henry.

NLR Mini-Storage

A 103-unit mini-storage project in North Little Rock rang up a $355,000 sale.

Purple Moon Properties LLC, led by Alese and Doug Stroud, purchased the 10056 U.S. 165 project. The seller is Arkansas Storage Centers III LLC, led by Stuart Finley.

The deal is backed with a three-year loan of $375,000 from First Arkansas Bank & Trust of Jacksonville.

The 1-acre development previously was tied to a March 2015 mortgage of $306,000 held by Centennial Bank of Conway.

Arkansas Storage acquired the project for $382,500 more than five years ago from NLR Security Storage LLC, led by Deidre and Chris Carlin.

Remedy Land

A 1-acre commercial site in the Ferndale community of west Pulaski County changed hands in a $165,000 deal.

Remedy Drug Inc., led by Philip Way, bought the 27017 Kanis Road property from David Alan Tegethoff.

The deal is financed with a five-year loan of $140,000 from Evolve Bank & Trust of West Memphis.

The property previously was linked with a May 2018 mortgage of $118,500 held by Malvern National Bank.

Tegethoff purchased the land for $55,000 in May 2016 from the Suzanne Lindsay Bradshaw Trust.

Palisade Estates

A 4,700-SF home in the Palisade Estates neighborhood of Cammack Village tipped the scales at $1.25 million.

The HMH Trust, led by Harry Hastings IV and his wife, Shevawn, acquired the house from David and Janna Knight.

The deal is funded with a 30-year loan of $510,400 from Eagle Bank & Trust of Little Rock.

The residence previously was tied to a December 2019 mortgage of $600,000 held by Conway’s Centennial Bank.

The Knights bought the property for $730,000 in April 1999 from William and Candace Lile.

Rural Residence

A 3,987-SF home in west Pulaski County sold for $900,000.

Robert and Terrie Snell purchased the house from the Mickey & Vicki Smith Revocable Trust.

The Smiths assembled the 7.45-acre spread in two transactions with Kings Mill Estates LLC, led by Timothy and Maxine King, $175,000 in March 2007 and $17,000 in June 2009.

Hickory Pointe

A 4,512-SF home in west Little Rock’s Hickory Pointe neighborhood drew an $825,000 transaction.

Spencer and Chelsea Mathews bought the house from CBM Appraisals Inc., led by Chris Maris. The deal is backed with a 26-year loan of $750,000 from Regions Bank of Birmingham, Alabama.

The residence previously was linked with a February 2020 mortgage of $683,000 held by First Service Bank of Greenbrier.

CMB Appraisals purchased the location in June 2019 for $160,000 from Michael and Cynthia McNiff.

Heights Home

A 4,082-SF home in the Heights area of Little Rock is under new ownership after a $780,000 deal.

Wesley and Stacey Martin acquired the house from Robert and Rebecca Neighbors.

The deal is financed with a 30-year loan of $624,000 from FirstTrust Home Loans Inc. of Sheridan.

The residence previously was tied to a November 2016 mortgage of $417,000 from BancorpSouth Bank of Tupelo, Mis-sissippi.

The Neighbors family bought the property for $239,500 in February 2016 from Little Rock Builders & Realty Co., led by Stuart Holcomb.

Robinwood Abode

A 4,224-SF home in Little Rock’s Robinwood neighborhood rang up a $603,200 sale.

Dawn and Matthew Powell purchased the house from Kathleen Smith.

The deal is funded with a 15-year loan of $482,560 from Telcoe Federal Credit Union of Little Rock.

The residence was acquired for $200,000 in October 1987 from Robert and Mary Jane Knapp.

Avignon Court

A 3,317-SF home in west Little Rock’s Avignon Court neighborhood changed hands in a $550,000 deal.

Deborah and Nicholas Prior bought the house from Elvin and Cheryl Shuffield. The deal is backed with a 15-year loan of $210,000 from Arvest Bank of Fayetteville.

The Shuffields purchased the location for $90,000 in October 1993 from El Dorado’s Deltic Farm & Timber Co.

Pleasant Valley

A 4,462-SF home in west Little Rock’s Pleasant Valley neighborhood sold for $500,000.

Dustin and Lauren Green acquired the house from the Snider Revocable Trust, led by Ted Snider Sr.

The deal is financed with a 30-year loan of $475,000 from Bank of England.

The Snider family bought the location for $17,000 in March 1971 from Johnson and Illene Baker.