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Maumelle Industrial Project Attracts $4.3M Transaction (Real Deals)

5 min read

A 60,600-SF industrial facility in Maumelle weighed in at $4.37 million.

HCB LLLP, led by Henry Browne, bought the CLM Pallet Recycling project at 701 Carnahan Drive.

The seller is Terraforma LLC, led by David Bruning and Doug Meyer.

The 4.96-acre development previously was tied to a January 2014 mortgage of $2.1 million and a June 2014 mortgage of $3 million held by BancorpSouth Bank of Tupelo, Mississippi.

Terraforma acquired the property for $3.8 million two years ago from 100 Murphy Drive LLC, led by Mark Bentley.

Storage Acquisition

A North Little Rock storage park tipped the scales at $4.2 million.

K&R Memorial Properties LLC, led by Russell Hall, purchased the Northshore Business Park Storage project at 5200 Northshore Drive from Gene and Linda Pfeifer and the Gene Pfeifer Revocable Trust.

The deal is backed with a five-year loan of $2.3 million from First Security Bank of Searcy. The 8-acre development previously was linked with a December 2007 mortgage of $2 million held by Little Rock’s Pulaski Bank & Trust.

Pfeifer bought the property for $2.5 million eight years ago from Smith Building Group, led by Richard H. Smith.

Auto Land

A 1.73-acre commercial parcel in west Little Rock changed hands in a $656,754 sale.

LL Ark Properties LLC of St. Louis Park, Minnesota, acquired the property from Glenn Ridge Crossings II LLC, led by Steve Landers.

The land is on the west side of Steve Landers Service Center at 624 Col. Glenn Plaza Loop.

The property was purchased in May 2006 as part of a $2.95 million deal with HCA Health Services of Midwest Inc. of Nashville, Tennessee.

Innovative Purchase

A North Little Rock commercial project is under new ownership after a $625,000 deal.

Innovative Power Solutions LLC, led by Joe Rice, bought the Huff N Puff Gymnastics project at 4101 Richards Road. The seller is Doug Brandon Properties Inc., led by Elizabeth Brandon.

The deal is financed with a five-year loan of $531,000 from IberiaBank of Lafayette, Louisiana.

The 0.88-acre development was acquired for $605,000 in August 2004 from Harris McNeill.

Café Sale

The Root Café in downtown Little Rock drew a $280,000 transaction.

1504 S. Main LLC, led by Jack and Corri Sundell, purchased its namesake address. The seller is A.A. Davis LLC, led by Anita Davis.

A.A. Davis provided a 15-year loan of $210,000 to fund the deal.

The 0.34-acre property was bought for $90,000 in December 2009 from the Robert Watson Family Trust, led by Katharine Watson Huckabay.

Sologne Manor

A 6,725-SF home in the Sologne Circle neighborhood of west Little Rock’s Chenal Valley development weighed in at $1.16 million.

Jerry and Allison Lorio acquired the house from C.J. and Cathy Cropper.

The residence previously was tied to a November 2007 mortgage of $1 million and a July 2015 mortgage of $60,000 held by Little Rock’s Bank of the Ozarks.

The Croppers purchased the location for $230,000 in December 2005 from Maskap LLC, led by Dennis Cooper.

Deauville Abode

A 5,000-SF home in the Deauville Place neighborhood of west Little Rock’s Chenal Valley development sold for $839,982.

Terri and Rick Vassar bought the house from Randy James Construction Co.

The residence previously was linked with a January 2015 mortgage of $500,000 held by Arvest Bank of Fayetteville.

The location was acquired for $128,000 in April 2014 from Billie and Patrick Maloney.

Heights Residence

A 4,000-SF home in the Heights area of Little Rock rang up a $750,000 deal.

Richard and Anne Pace purchased the house from Smart Development LLC, led by Robert Perry. The deal is backed with a 30-year loan of $637,500 from Franklin American Mortgage Co. of Franklin, Tennessee.

The residence previously was tied to a December 2014 mortgage of $576,000 held by BancorpSouth Bank.

Smart Development bought the property for $235,000 13 months ago from Burrell and Karen Johnston.

Canal Pointe Home

A 3,474-SF home in Little Rock’s Canal Pointe neighborhood changed hands in a $680,000 transaction.

Bartlett Family Trust, led by David Bartlett Sr. and his wife, Nancy, acquired the house from Mark Mengel and Laura Frankenstein.

The residence previously was linked with a July 2013 mortgage of $315,950 held by Wells Fargo Bank of Sioux Falls, South Dakota.

The property was purchased for $650,000 in December 2007 from Tommy and Carol Hodges.

Avignon House

A 4,144-SF home in the Avignon Court neighborhood of west Little Rock’s Chenal Valley development is under new ownership after a $557,500 sale.

C.J. and Cathy Cropper bought the house from Charlene and Walter Julian. The deal is financed with a one-year loan of $464,000 from Bank of the Ozarks.

The residence previously was tied to a July 2010 mortgage of $340,000 held by Bank of Little Rock Mortgage Corp.

The location was acquired for $100,000 in July 2000 from Deltic Timber Corp. of El Dorado.

Greystone Abode

A 3,713-SF home in west Pulaski County’s Greystone Manor neighborhood drew a $506,110 transaction.

Jeffrey and Deawna Brantly purchased the house from Greg and Dena Pickle. The 5.8-acre spread previously was linked with a February 2012 mortgage of $350,000 held by One Bank & Trust of Little Rock.

The property was bought for $479,600 in May 2005 from Lyn and Regina Fruchey.

Pleasant Mortgage

A west Little Rock country club picked up a $5.5 million financial package.

Pleasant Valley Country Club received the 12-year loan from Regions Bank of Birmingham, Alabama.

The 254-acre spread previously was tied to a February 2003 mortgage of $3.5 million held by Metropolitan National Bank of Little Rock.

The property was acquired by the Riverdale Country Club members when they traded their acreage along the Arkansas River.

The exchange was made with Deal Development Co. of Dallas, a joint venture among Winthrop Rockefeller, Kaiser Aluminum & Chemical Corp. and Aetna Insurance Co.

The trade first was proposed in 1963, but the controversial deal wasn’t completed until 1966.

The Riverdale Country Club voted 347-133 in favor of the swap, and the Riverdale Country Club moved west and became the Pleasant Valley Country Club.

In addition to land, the members received a $1.15 million clubhouse and shed $170,000 of outstanding debt.

The new clubhouse, swimming pool and tennis court complex was completed in 1968. An estimated 75,000 cubic yards of Riverdale topsoil was hauled in to build the 27-hole Pleasant Valley golf course.

Combo Refinance

A convenience store and fast-food eatery combo in Sherwood was used to secure a $4 million funding agreement.

Summerwood Partners LLC, led by David and Douglas Hendrix, obtained the three-year loan from Eagle Bank & Trust of Little Rock.

The 0.92-acre Fina/Burger King project at 3900 E. Kiehl Ave. previously was linked with a July 2014 mortgage of $4 million held by Bear State Bank of Little Rock. The development was acquired for $1.34 million in December 1998 from Ray A. Jones & James E. Hoover LLC.

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