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Modern Storage Sale Closes at $8.8 Million (Real Deals)Lock Icon

4 min read

A 675-unit mini-storage project in Little Rock weighed in at $8.8 million.

Westport Little Rock Cunningham Self Storage LLC, an affiliate of Westport Properties of Irvine, California, purchased the Modern Storage project at 8500 Cunningham Lake Road. The seller is Modern SW LLC, led by Keith Richardson.

The deal is financed with a five-year loan of $5 million from Bank of the West in San Francisco.

Modern SW bought the 3.57-acre development for $2.8 million in January 2018 from Storage World Ltd., led by Ralph Bozeman.

Magna IV Complex

A 58,671-SF printing project in North Little Rock tipped the scales at $2.9 million. 

Little Rock Commercial LLC of Hingham, Massachusetts, acquired the Magna IV complex at 2401, 2415 and 2501 Commercial Lane from Middleton Realty LLC, led by Kristi Dannelley.

The deal is backed with a five-year loan of $1.7 million from Citizens National Bank of Bossier City, Louisiana.

Middleton Realty purchased the 6.22-acre development for $1.6 million in August 2005 from H&M Realty, led by Stan Hastings.

Centre Place

A 3,073-SF office in downtown Little Rock and an adjoining parking lot sold in transactions totaling $900,000.

Centre Place Parking LLC, led by Ronald Vandiver, bought the parking lot at the northwest corner of Third and Center streets for $675,000. The seller is Centre Street Parking Inc., led by William Daniel Thomas III.

Centre Place Holdings LLC, also led by Vandiver, acquired the office space in the Centre Place Building at 212 Center St. from WDT Investments LLLP, also led by Thomas.

The former home of the Danny Thomas Co. commercial realty firm and the parking lot were purchased in December 1980 as part of the $900,000 acquisition of the building from Union Life Insurance Co., led by John Hickman.

Warehouse Acquisition

An 18,984-SF warehouse in west Little Rock changed hands in an $800,000 deal.

Michael D. McWithey Investments LLC of Colleyville, Texas, purchased the 11408 Otter Creek South Road project from PatientPoint Hospital Solutions LLC of Cincinnati. 

The deal is funded with a five-year loan of $600,000 from Simmons Bank of Pine Bluff.

The 1.17-acre development was acquired for $565,000 in September 2008 from Hall Family Real Estate LLC, led by Arthur Hall.

Hillcrest Project

A 3,115-SF commercial building in the Hillcrest area of Little Rock rang up a $725,000 sale.

Foxden Capital LLC, led by Todd and Amanda Denton, bought the 623 Beechwood Ave. project from Jeffrey and Janet Johnson.

The Johnsons provided a $642,500 mortgage to finance the deal.

The 0.13-acre location was purchased for $52,000 in April 1991 from Doris Pfeifer.

Church Purchase

A 5,544-SF church in Jacksonville is under new ownership after a $550,000 deal.

Christian Church of Jacksonville sold its 200 E. Martin St. property to Martin Street Church of Christ. 

The deal is backed with a $440,000 loan from Centennial Bank of Conway.

Christian Church bought the 2.78-acre development for $75,000 in April 1987 from Savers Financial Services Inc., the real estate arm of the defunct Savers Federal Savings & Loan in Little Rock.

Branch Buy

A 1,989-SF bank branch in the Hillcrest area of Little Rock drew a $400,000 transaction.

Hot Springs Estate Holdings LLC, led by Aaron Lynchard Jr. and Robert Bukowski, purchased the 4024 W. Markham St. office from Bank of America of Charlotte, North Carolina.

The deal is funded with a three-year loan of $541,000 from Southern Bancorp Bank of Arkadelphia.

The 0.43-acre site was acquired for $75,000 in May 1974 from Robert and Gloria Hess. The buyer was Little Rock’s Union National Bank.

NLR Property

A 2.7-acre parcel in North Little Rock sold for $310,000.

Kevin Horton Properties LLC bought the land on the east side of Counts Massie Road at Collins Industrial Place from the Irag Rovnaghi & Pegah Deheshmand Revocable Trust. 

The property was purchased in June 1997 as part of a $30,000 deal with John and Melva Nelson.

Apartment Sale

A seven-unit apartment project in Jacksonville changed hands in a $234,500 deal.

Deon and Ursula Robinson acquired the 120 S. Elm St. project from The Gray Family Properties LLLP, led by Bartus Gray Jr. and Thad Gray.

The deal is financed with a $199,325 loan from Centennial Bank.

The Gray family bought the 0.24-acre location for $4,000 in June 1955 from J.P. and Mildred Robbins.

Ton’s Tab

A 2,100-SF tavern near Maumelle rang up a $215,000 sale.

R. De Properties LLC of Greenville, Mississippi, purchased Ton’s Bar & Grill at 18814 MacArthur Drive from Deep Water Investments LLC, led by Keith Schluterman and Timothy Freyaldenhoven.

The deal is backed with a five-year loan of $182,750 from Bank of Little Rock.

Deep Water acquired the 0.2-acre development for $265,000 in July 2013 from Jimmy and Danette Fiddler.

Smarthouse Land

A 1.41-acre commercial site in downtown North Little Rock drew a $159,489 transaction.

Smarthouse Development LLC, led by Chris Moses, bought the land at the west end of Smart House Drive from the city of North Little Rock.

The land was purchased through the Urban Renewal Agency of the city of North Little Rock in December 1971 as part of a $1.4 million deal with Missouri Pacific Railroad Co. of St. Louis.

Waterview Estates

A 6,452-SF home in the Waterview Estates neighborhood of west Pulaski County weighed in at $1.3 million.

Foxden Capital LLC, led by Todd and Amanda Denton, acquired the house from Rick Ferguson Inc.

The deal is funded with a three-year loan of $1.1 million from Simmons Bank.

Ferguson bought the residence for $1.1 million in May 2011 from Jason and Brandi Sims.

Hallen Court

A 4,018-SF home in the Hallen Court neighborhood of west Little Rock tipped the scales at $1.26 million.

Upton Family Trust, led by Kris and Karen Upton, purchased the house from Rector Phillips Morse Inc., led by Kris Upton. The corporation provided a $1 million mortgage to finance the deal.

RPM acquired the site in May 2020 as part of a $582,000 deal with PotlatchDeltic Real Estate LLC.

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