Little Rock Port Industrial Park Sale-Leaseback Tops $35M (Real Deals)

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A 562,600-SF plastic home organization products plant in the Little Rock Port Industrial Park hosted a $35.48 million sale-leaseback transaction.

FNLR Pinafore LLC, an affiliate of New York’s Fortress Investment Group, acquired the 25.53-acre development at 6901 Lindsey Road from HMS Mfg. Co. LLC of Troy, Michigan.

HMS bought the former General Electric distribution project for $15.1 million in June 2020 from 7240 Partnership LLC and Beckett Road Partners LLC, affiliates of New York’s Eliken Property Management.

South Pointe Purchase

A 7,200-SF automotive center in Jacksonville weighed in at $1.45 million.

South Pointe Properties LLC of Edwardsville, Illinois, purchased the Kirk’s Service & Tire project at 6350 T.P. White Drive from Kirk’s Holding Co. LLC, led by the estate of Peter Jayson Kirk.

The deal is funded with a $1.1 million loan from St. Louis Bank.

Kirk’s Holding Co. acquired the 4.84-acre development for $750,000 in April 2022 from Maritime Ventures LLC, led by Stephen Huff.

WLR Site

A 1.05-acre commercial site in west Little Rock tipped the scales at $1.05 million.

NJW Property LLC of Texarkana, Texas, bought the future Layne’s Chicken location near the southeast corner of Highway 10 and Chenal Parkway from Highway 10 Corner LLC, led by Kevin Huchingson and Stephen LaFrance Jr.

The deal is backed with a one-year loan of $787,500 from Malvern National Bank.

Highway 10 Corner purchased the property in January 2004 as part of a $2 million deal with River City Energy LLC, led by Scooter Stuart.

NLR Land

A 26-acre tract in North Little Rock drew a $561,500 transaction.

RFS Properties LLC, led by Kyle Carpenter, acquired the land northwest of Paul Eels Drive near Maumelle Boulevard. The seller is WNLR Investments LLC, led by Andy Collins.

WNLR Investments bought the land in September 2006 as part of a $2.3 million deal with David and Rose Wells, Claude Wells Jr. and his wife, Sally, and Stephen Wells.

Sherwood Site

An 8.69-acre parcel in Sherwood rang up a $412,660 sale.

CKP Land Dev LLC, led by the Paul & Andrea Wilson Trust No. 1, bought the property near the northwest corner of Oakdale Road and Highway 107.

The seller is 107-Oakdale LLC, led by Byron McKimmey. The Morden Revocable Trust, led by Billy Morden, provided a $312,660 mortgage to finance the deal.

The land was purchased in February 2006 as part of an $8.3 million transaction with Metropolitan Land Co., representing the heirs of Justin Matthews and his Metropolitan Trust.

Cypress Vineyard

A 15.34-acre tract in North Little Rock changed hands in a $153,400 deal.

Cypress Vineyard Development LLC, led by Jack Wilson, John Wright and the Ronnie J. Schrader Irrevocable Trust, acquired the land on the north side of Faulkner Lake Road east of Dortch Loop.

The seller is Faulkner 391 Development LLC, led by the Mangaraju N. Chakka 2020 GST Trust. Development of the property is funded with a two-year loan of $2.4 million from Community Bank of Batesville.

Faulkner 391 bought the land in September 2020 as part of a $230,032 deal with Faulkner Lake 391 LLC, led by the estate of Tom Solman.

Falstone Court

A 5,278-SF house in west Little Rock’s Falstone Court neighborhood weighed in at $1.34 million.

Truc Luong and Brian Le purchased the house from Dillon Homes & Real Estate Inc., led by Janet Dillon.

The deal is backed with a five-year loan of $747,000 from First Security Bank of Searcy.

Dillon Homes acquired the 0.36-acre site for $140,000 in January 2023 from PotlatchDeltic Real Estate LLC.

Mereville Place

A 3,856-SF home in west Little Rock’s Mereville Place neighborhood sold for $850,000.

MKJJ Real Estate LLC of Ocala, Florida, bought the house from Reddy Innovative Builders LLC, led by Mohan Reddy.

Reddy purchased the 0.19-acre site for $105,000 in June 2023 from PotlatchDeltic Real Estate LLC.

Chenal Ridge

A 4,382-SF home in west Little Rock’s Chenal Ridge neighborhood is under new ownership after a $650,000 deal.

Sharon Boehm acquired the house from Tripurari Mishra and Aditi Saraswat.

Mishra and Saraswat bought the residence for $428,000 in January 2020 from Richard and Carol Atkinson.

Downtown Condo

Bradford 1805 LLC, led by Merritt Dake, sold a 2,954-SF condo in downtown Little Rock to Louis Verderber and Violet Morris for $1.07 million.

Bradford 1805 purchased the 18th-floor space in the River Market Tower at 315 Rock St. for $695,000 in July 2017 from RMT II LLC, led by Jimmy Moses and Rett Tucker.