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Neuro-Spine Center Sells In $7.5M Transaction (Real Deals)Lock Icon

5 min read

A 49,333-SF medical office building in west Little Rock weighed in at $7.5 million.

Arkansas Neuro-Spine Center LLC, led by Dr. Alonzo Williams, sold its namesake project at 9101 Kanis Road. The buyers are Kanis Medical LLC, led by Drs. Christian Michaels and Richard Houk; and Central Properties LLC, led by John Flake.

The deal is funded with a five-year loan of $6 million from Malvern National Bank. The 2.69-acre development previously was linked with a June 2011 mortgage of $6.2 million held by BancorpSouth Bank of Tupelo, Mississippi.

The site was bought for $232,000 in July 2003 from Baptist Health.

Downtown Redevelopment
A 14-story commercial redevelopment in downtown Little Rock is in the works after a $5.7 million transaction.

LRMU Ltd. of Herndon, Virginia, acquired the 170,957-SF Donaghey Building at 103 E. Seventh St. with plans to develop 152 apartments in the upper floors. The seller is Lake Hamilton Corp., led by Charles Hendrix.

Lake Hamilton provided a 14-month loan of $3.7 million to finance the deal.

The 0.4-acre development was purchased for $600,000 in October 2001 from the George W. Donaghey Foundation.

Magna Six Sale
A North Little Rock shredding project changed hands in a $1.45 million deal.

Lagniappe Holdings LLC, led by Scott Levine, purchased the 16,380-SF American Mobile Shredding facility at 7671 Northpoint Place. The seller is Magna Six Investments LLC, led by Jeff Ward. Magna Six acquired the 1.82-acre property in January 2015 as part of a $1.4 million deal with Stephen and Sara Daugherty.

Brokerage Foreclosure
A 13,682-SF truck brokerage facility in North Little Rock is under new ownership after a $900,000 foreclosure sale.

Bank of Little Rock recovered the Vouk Transportation project at 701 Judi Drive from 3B.E. Logistics LLC, led by Chris Blakley. The 5.5-acre development was securing a May 2015 mortgage of $826,421 held by the bank.

The project was purchased for $878,000 more than two years ago from LMPM Inc., led by Pat Koch.

Popeyes Site
A site for a Popeyes restaurant in west Little Rock rang up a $651,410 sale.

Homail Inc., led by Walid Ismael, acquired the 1.09-acre site near the northwest corner of Cantrell Road and Chenal Parkway. The seller is BDC LLC, led by Gene Pfeifer. The project is backed with by a $1.4 million loan from Bank of England. The property was part of a 373-acre purchase the Pfeifer family made in August 1972 totaling $522,900. The sellers were M.W. and Gladys Staples, R.J. and Gladys O’Connell, T.H. Brown and Josephine Graham, $425,000; and Deltic Farm & Timber Co., $97,900.

Med Property
A 4,961-SF medical redevelopment in Little Rock is the subject of a $389,000 deal.

Alloplastic Reconstruction Inc., led by Michael Kaczkowski, purchased the 3924 W. Markham St. project. The sellers are Homayoun Hamidian and Maria D. Beristain-Flores of Indian Wells, California. The deal is funded with an 11-year loan of $311,200 from IberiaBank of Lafayette, Louisiana.

The 0.34-acre development previously was tied to a January 2015 mortgage of $297,500 held by Bank of Little Rock.

The property was acquired for $350,000 three years ago from Koberg Co. LLC, led by Rod Koberg.

Trio Transaction
Three adjoining commercial properties in west Little Rock drew a $350,000 transaction.

Dennis Bluff Estates LLC, led by Christopher and Jamie Davis, bought a 9,120-SF warehouse at 7507 Col. Glenn Road, a 3,250-SF day care at 7505 Col. Glenn Road and the 1,758-SF UAMS Head Start cafeteria at 7501 Col. Glenn Road.

The sellers are the Atley G. Davis Living Trust and Betty Davis Living Trust. The deal is financed with a five-year loan of $280,000 from One Bank & Trust of Little Rock.

The combined 2.13-acre location was purchased for $86,000 in November 1992 from City National Bank of Fort Smith.

Jacksonville Land
A 19.37-acre parcel in Jacksonville sold for $200,000.

Weaver-Bailey Contractors Inc. of El Paso (White County) acquired the land near the northwest corner of Coffelt Road and John Harden Drive from Pathfinder Inc., led by Joan Zumwalt.

The surplus government property was bought for $62,000 in August 1979 from Uncle Sam.

St. John’s House
A 4,941-SF home in Little Rock’s St. John’s Place neighborhood changed hands in a $920,000 deal.

Ernest and Karen Cline purchased the house from the Karen E. Flake Family Qualified Personal Residence Trust. The deal was aided by a $736,000 30-year loan from Centennial Bank of Conway.

The location was acquired for $148,000 in June 2002 from St. John’s Place Joint Venture, led by Peter Sartain, bishop of the Roman Catholic Diocese of Little Rock; and Dickson Flake.

Bretagne Abode
A 6,207-SF home in the Bretagne Circle neighborhood of west Little Rock’s Chenal Valley development is under new ownership after an $804,000 transaction.

Roderick Smothers bought the house from Lorraine Defede. The deal is funded with a 30-year loan of $709,025 from Arvest Bank of Fayetteville.

The house previously was linked with a July 2007 mortgage of $280,000 held by Pulaski Bank & Trust of Little Rock.

The site was purchased for $130,000 in August 2003 from Kevin Hughes Construction Co.

Rural Residence
A 5,303-SF home in west Pulaski County rang up a $660,000 sale.

Matthew and Andrea Carlisle acquired the house from Charles and Mary Bower. The deal is financed with a one-year loan of $675,000 from Malvern National Bank.

The residence previously was tied to a January 2013 mortgage of $304,100 held by Regions Bank of Birmingham, Alabama.

The Bowers bought the 5-acre site for $93,000 in June 1996 from Samuel and Lori Houston.

Arbors Home
A 3,783-SF home in The Arbors neighborhood of west Little Rock’s Chenal Valley development drew a $585,000 transaction.

John Dickens purchased the house from Carey and Elizabeth Guidry. The residence previously was linked with an August 2013 mortgage of $417,000 held by Metropolitan National Bank of Little Rock.

The Guidrys acquired the property for $582,000 more than four years ago from Robert and Diane Rhodes.

Lamarche Dwelling
A 4,147-SF home in the Lamarche Place neighborhood of west Little Rock’s Chenal Valley development sold for $552,000.

Joseph and Crystal Gallegos bought the house from Kristin and Wayne Lyle. The deal is backed with a 30-year loan of $520,025 from USAA Federal Savings Bank of San Antonio.

The residence previously was tied to a May 2017 mortgage of $518,000 held by Arvest Bank.

The Lyles purchased the property for $518,000 eight months ago from Anthony and Gayle Gordon.

Lakewood Park
A 3,344-SF home in North Little Rock’s Lakewood Park neighborhood changed hands in a $528,500 deal.

Ricky and Annette Meador acquired the house from Cynthia Staley.

The site was bought for $70,000 in June 1989 from M-T-M Development Co., led by William Moore.

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