RPM Group/Corfac International announced late Thursday the sale of 7.88 acres on Briley Road in North Little Rock for $1.2 million.
The property will become part of the Lisa Academy North complex and home to its planned $13 million secondary school.
Little Scholars of Arkansas LLC (Lisa Academy) was the buyer; Maury Mitchell and Clyde Butler represented it in this transaction.
The sellers were the Jean Varvil estate (3.9 acres at 700 Briley Road) and Scott and Brad Jolly, who owned the rest of the land, which was home to Fleming Mobile Home Park. Reed Gibbons of the RPM Group represented the Jean Varvil estate in the sale.
The Lisa Academy system has two campuses, one on both sides of the Arkansas River, and recently had its state-issued charter amended to increase the enrollment cap for all its schools by 600 students. The system will now be able to enroll 2,700 students.
Its expansion plan received unanimous approval from the Arkansas Board of Education in March. Lisa Academy’s plan is to build a secondary school behind its existing K-12 school at 5410 Landers Road in Sherwood, a former Best Buy store.
The new two-story building on Briley Road be about 63,000 SF. A groundbreaking is set for August.
The system plans to open the new school to grades six through 12 or grades 7 through 12 by the start of the 2019-20 school year.
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