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McKenzie Park Sold for $34M (Real Deals)Lock Icon

4 min read

A 192-unit apartment complex near the western edge of Little Rock tipped the scales at $34.75 million.

Center Park Equity Fund LLC and 618 North Eckhoff LLC, affiliates of Forge Partners of Rancho Santa Fe, California, bought the McKenzie Park project at 14201 Kanis Road.

The sellers are Panther Branch LLC, led by Brandon Huffman; Barnes Revocable Trust, led by James and Terry Barnes; Southern Asset Management Inc., led by Graham Smith; and Scott Hurley.

The deal is funded with a $23.9 million loan from U.S. Bank of Cincinnati.

The 9.04-acre site was purchased in August 2014 as part of a $1.1 million deal with Alice Perryman.

Shred-It Transaction

A 35,958-SF industrial facility in Maumelle weighed in at $5.65 million.

Vault Avenida Maumelle Industrial LLC, an affiliate of Vault Equity Partners in Bloomfield Hills, Michigan, acquired the Stericyle/Shred-It project at 1201 Murphy Drive.

The seller is Murphy Industrial LLC, an affiliate of Interstate Partners in Eden Prairie, Minnesota.

The deal is financed with a five-year loan of $3.9 million from City National Bank of Florida in Miami.

Murphy Industrial bought the 4.01-acre development for $2.2 million in June 2018 from Becknell Properties, an affiliate of UBS Realty Investors of Hartford, Connecticut.

Frenchman’s Units

Forty apartments in North Little Rock’s Frenchman’s Woods project rang up a $3.08 million sale.

The buyers are three limited liability companies bearing the Frenchman Woods name, affiliates of Read Property Group in Brooklyn, New York.

The trio purchased the 10 fourplex buildings on Frenchmen Loop from Roeder Properties LLC, led by James Roeder.

Land was assembled in three transactions totaling $578,000 with Country Club Development LLC, led by John Wright.

The deals all closed during 2005: $120,000 in April, $228,000 in August and $240,000 in October.


Seven-Digit Construction

Arkansas Children’s Hospital South Wing Renovations    $1,633,858 
1 Childrens Way, Little Rock
Nabholz Construction Corp., Conway

New Home      $1,000,000 
2 Varennes Court, Little Rock
Dillon Homes & Real Estate Inc., Little Rock


Eatery Purchase

A 3,398-SF pizzeria in west Little Rock changed hands in a $1.1 million deal.

ARI Eat LLC, led by Alan Bubbus, bought the Pizza Hut at 11410 W. Markham St. from RCG-Markham LLC, an affiliate of RCG Ventures of Atlanta.

The deal is backed with a one-year loan of $500,000 from Simmons Bank of Pine Bluff.

RCG purchased the 0.57-acre development in December 2018 as part of a $19 million deal with Weingarten/Investments Inc. of Houston, Texas.

Sherwood Site

A 1.68-acre commercial site in Sherwood sold for $990,000.

Alina Inc., led by Avinash Patel, acquired the property at the southwest corner of Heritage Lane and Heritage Drive. The seller is CDRN Sherwood LLC, led by Chetan Patel.

CDRN assembled the land as part of two July 2018 transactions with Stuart McGilvray, $710,000; and Telcoe Federal Credit Union of Little Rock, $850,000.

Auto Property

A 2.06-acre commercial site in west Little Rock is under new ownership after a $799,000 deal.

Indigo Properties Arkansas LLC, an affiliate of IndiGo Auto Group of Houston, Texas, purchased the property on Col. Glenn Plaza Loop, adjoining the north side of the former Playtime Pizza project.

The seller is Glenn Ridge Crossings LLC, led by Steve Hockersmith.

The land was acquired in December 2004 as part of a $1.7 million deal with the Betty Jean Talley Trust and the Shir-ley Ann Martin Trust.

(See Porsche May Be On Course for Little Rock)

Construction Land

An 11.43-acre commercial site in North Little Rock drew a $500,000 transaction.

RRE Ark. LLC, an affiliate of Tulsa’s Manhattan Construction Group, bought the property at the southeast corner of Faulkner Lake Road and Industry Drive from J.A. Riggs Tractor Co., led by John Riggs IV.

The land was purchased in April 1995 as part of an $842,000 deal with an investment group that included the estate of Herschel Friday; Nancy Friday; William and Peggy Sutton; William and Elizabeth Terry; the Boyce Love Testamentary Trust; William Patton Jr. and his wife, Kay; William and Mary Lou Cravens; and the Oaklawn Jockey Club, led by Charles Cella.

Amazing Acquisition

A 5,518-SF day care center in Sherwood rang up a $450,000 sale.

Jeff and Ronda Sobczak acquired the 1061 Lantrip Road project from Amazing U Inc., led by Tara Gregory.

The deal is funded with a three-year loan of $425,000 from First Arkansas Bank & Trust of Jacksonville.

Amazing U bought the 0.92-acre development for $450,000 in February 2018 from Community Christian Church.

Beverly Place

A 6,196-SF home near the Country Club of Little Rock tipped the scales at $1.45 million.

Kyle and Megan Ludwig purchased the property from Elizabeth and Raymond Nolan. The deal is financed with a 30-year loan of $1 million from Caliber Home Loans Inc. of Coppell, Texas.

The residence was acquired for $900,000 in June 2015 from Russ McDonough III and his wife, Kimberly.

Edgehill Abode

A 3,740-SF home in Little Rock’s Edgehill neighborhood changed hands in a $750,000 deal.

Chris Maris Custom Home & Remodeling LLC bought the house from the Julia L. Fogleman Revocable Trust.

The deal is backed with a $925,000 loan from Riverside Bank of Sparkman.

The residence was purchased for $445,000 in August 1994 from Kathryn Shepherd.

Lakewood

A 5,334-SF home in North Little Rock’s Lakewood neighborhood sold for $720,000.

Jeremy and Amy Hyde acquired the house from the Hertha K. Moriconi Revocable Trust.

The residence was bought for $430,000 in March 1999 from Lakeside Property Investments, led by Richard and Patricia Elimon.

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