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Market Place Rings Up $12.6M Transaction (Real Deals)Lock Icon

5 min read
Market Place Shopping Center 135087
<p><em>(Parcel lines are approximate and shown for illustration only.)</em></p> ( Google Earth / Mapbox)

A 79,160-SF shopping center in west Little Rock tipped the scales at $12.6 million.

Market Place Shopping Center LLC, led by Cory Davis, purchased its namesake project at 11121 N. Rodney Parham Road. The seller is Market Place Partnership, led by Sam Vogel Jr.

The deal is financed with a five-year loan of $10 million from Simmons Bank of Pine Bluff.

The 6.83-acre property was assembled in two transactions with Birch Brook Inc., an affiliate of Little Rock’s Rector Phillip Morse, $700,000 in June 1977; and Josephine Morse, Melinda Morse Laurens and John Tucker Morse, $1.4 million in March 1988.

Four-Piece Order

Wendy's Combo Totals .7M 135351
<p>Vereit Acquisitions of Phoenix purchased four Wendy's restaurants in Pulaski County. The separate transactions totaled .7 million.</p> ( Mapbox / Google Maps)

A quartet of Wendy’s in Pulaski County generated a series of milliondollar transactions. Vereit Acquisitions LLC, an affiliate of Vereit Inc. of Phoenix, bought:

► The 3,404-SF eatery at 17716 Cantrell Road in west Little Rock for $3.4 million from Sea Salt LLC of Memphis. The 1.09-acre location was purchased for $831,000 in February 2013 from Ranch Properties Inc., led by Ed Willis.

► The 3,086-SF restaurant at 8901 Baseline Road in southwest Little Rock for $2.21 million from Main Street Realty LLC, led by William Shelton Jr. The 0.96-acre location was acquired for $388,000 in October 2002 from Conservative Development Co., led by Rick Ashley.

► The 3,016-SF eatery at 10924 Col. Glenn Road in west Little Rock for $2.15 million from Conwen LLC of Memphis. The 1.04-acre location was bought for $1 million in December 2008 from Colonel Glenn Plaza Lot 1 LLC, led by Leonard Boen.

► The 3,107-SF restaurant at 708 W. Main St. in Jacksonville for $2 million from Onejay LLC, led by Jeffrey Voskamp. The 0.76-acre location was purchased for $325,000 in January 2007 from MJMJ LLC, led by James Peacock.

Assembly Required

A 2.16-acre parcel in west Little Rock was assembled for redevelopment in deals totaling $1.1 million.

ERB Holdings LLC, led by Matt Sitton, acquired a 1.64-acre property with a 2,600-SF house at 19410 Cantrell Road from the DLGCFG Trust, led by Clara Faye George; and a 0.52-acre property with a 1,883-SF house at 19420 Cantrell Road from Glen and Gayla Gibbons.

The deal is backed with a six-month loan of $1.1 million from Legacy National Bank of Springdale.

The George family bought the land for an undisclosed sum in June 1946 from Katie Kyler.

Rural Acreage

A 70.98-acre tract in west Pulaski County sold for $750,000. New Home Estates Corp., led by Timothy and Drew Files, purchased the land on the edge of the Monnie Springs community from the Carole S. Baker Revocable Trust.

The deal is funded with a one-year loan of $600,000 from First Service Bank of Greenbrier.

The property was acquired in June 2002 for $425,000 from Audene Hall.

Lots Transaction

Seventy-five lots in North Little Rock’s Bent Tree Estates subdivision drew a $650,000 transaction.

Billy Stain Construction LLC bought the property from Sherwood Subdivision LLC and M.N. Osborne Construction Account LLC, both led by Richard Wagnon.

The deal is financed with an 18-month loan of $650,000 from Gateway Bank of Rison.

The land was purchased in December 2005 as part of a $455,000 deal with Greg Heslep.

Edgehill Manor

A 9,740-SF home in Little Rock’s Edgehill neighborhood weighed in at $1.2 million.

The Marbaise Family Trust, led by Jon and Sandra Marbaise, acquired the home from Karen Kozlowski.

The residence was bought for $1 million in December 1997 from Gerald and Virginia Kocinski.

Hickory Hills

A 5,990-SF home in west Little Rock’s Hickory Hills neighborhood rang up a $999,900 sale.

Continuum Health LLC, led by Mindal and Stephen Harrison, purchased the house from Julie Motes. The deal is backed with a two-year loan of $867,526 from First Security Bank of Searcy.

The residence was acquired for $1.1 million in November 2012 from Robert and Rebecca Howeth.

Sologne Circle

A 5,013-SF home in west Little Rock’s Sologne Circle neighborhood changed hands in a $900,000 deal.

Abhijit Godbole and Dhanashri Gosavi bought the house from David and Toni Woody. The deal is funded with a 30-year loan of $810,000 from Arvest Bank of Fayetteville.

The Woodys purchased the location for $95,000 in December 2001 from Deltic Timber Corp. of El Dorado.

Forest Heights

A 3,221-SF home in the Forest Heights neighborhood of Little Rock is under new ownership after an $820,000 transaction.

Lauren Berkman and Joseph Margolick acquired the residence from Jeff Fuller Homes LLC.

The property was bought for $298,500 in September 2019 from Barber Harrison LLC, led by Jeffrey and Laurie Barber.

Heights Home

A 3,085-SF home in the Heights area of Little Rock sold for $689,000.

Christian and Lindsay Olsen purchased the house from Paul Donagher and Vanessa Weiss.

The deal is financed with a 15-year loan of $548,250 from Encore Bank of Little Rock.

The residence was acquired for $660,000 in December 2016 from Andrew Mentzer Sr. and his wife, Katherine.

Riverview Manor

A 2,936-SF home in Little Rock’s Riverview Manor neighborhood drew a $630,000 transaction.

Ashley Lynch and Ethan Gillett bought the house from Carter and Brita Rook. The deal is backed with a 30-year loan of $630,000 from Regions Bank of Birmingham, Alabama.

The residence was purchased for $382,000 in February 2014 from Jane and Clayton Gring Sr.

Falstone Court

A 3,701-SF home in west Little Rock’s Falstone Court neighborhood rang up a $610,000 sale.

Glen and Faires Beale acquired the house from Dumont Construction LLC, led by Larry Evans and Brian Dumont.

The deal is funded with a 30-year loan of $538,250 from Primary Residential Mortgage Inc. of Salt Lake City.

The location was bought for $84,000 in September 2019 from PotlatchDeltic Real Estate LLC.

Downtown Condo I

A 1,998-SF condominium in downtown Little Rock changed hands in a $530,000 deal.

The Henry G. McNabb Jr. Living Trust purchased the 10th-floor unit in the River Market Tower from Thomas and Anna Schmidt.

The deal is financed with a 15-year loan of $450,000 from First National Bank of Paragould.

The property was acquired in April 2016 for $415,000 from Susan Wilson.

Downtown Condo II

A 1,863-SF condo in downtown Little Rock is under new ownership after a $510,000 sale.

Albert Yarnell II bought the 10th-floor unit in the 300 Third Tower from Christopher Liberto and Katy Maring.

The deal is backed with a 30-year loan of $510,000 from Highlands Residential Mortgage Ltd. of Allen, Texas.

The property was purchased for $465,000 in May 2019 from David and Lorraine Frazier.

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