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NLR Warehouse Draws $1.4 Million Transaction (Real Deals)

5 min read

A 22,500-SF warehouse in North Little Rock tipped the scales at $1.46 million.

Stephen and Sara Daugherty bought the Truck Pro project at 1201 Baucum Industrial Drive from Baucum LLC, led by John Burnett.

The deal is financed with a 20-year loan of $1.17 million from BancorpSouth Bank of Tupelo, Mississippi.

The 3.77-acre site was purchased for $98,000 in March 1997 from Western Little Rock Co., led by Floyd Fulkerson.

Georgeanne Estates Land

A 13.7-acre residential parcel in west Little Rock weighed in at $1.25 million.

C.J. Pace Construction LLC, led by James Pace, acquired the land near the southwest corner of Cantrell and Katillius roads from the Jett H. Ricks Living Trust.

The property will be part of the 30-lot Georgeanne Estates project. The deal is funded with an 18-month loan of $650,000 from Little Rock’s Bank of the Ozarks.

The Ricks family bought the land in December 1957 as part of a $7,200 deal with Margaret Key.

Kentucky Fried Facility

A 1,866-SF fast-food eatery in Little Rock is under new ownership after a $1 million transaction.

JC123 LLC of Guadalupe, Arizona, purchased the KFC project at 500 W. Roosevelt Road from Raheel Realty Inc. of Inglewood, California.

Raheel recovered the 0.42-acre development two months ago from the Triny J. Peller Living Trust at a $675,000 foreclosure sale.

The Peller trust acquired the property for $938,000 in February 2006 from Raheel Realty.

Boonya Buy

A 13,640-SF office-warehouse in North Little Rock changed hands in a $725,000 sale.

Boonya Properties LLC, led by William Zihala, bought the 9000 Commerce Cove project from Kevin Horton Properties LLC.

The deal is backed with a three-year loan of $652,500 from First Service Bank of Greenbrier.

The 1.6-acre development previously was tied to a December 2012 mortgage of $360,000 held by Simmons First National Bank of Pine Bluff.

The site was purchased for $159,000 in November 2010 from Marc Anthony Development LLC, led by Marc Yelenich and Anthony Wray.

Parking Purchase

A 0.8-acre parking lot in downtown North Little Rock drew a $287,500 transaction.

Broadway Exit LLC acquired the 505 N. Cypress St. property from Cypress Street Depot LLC, led by Judith Baldwin. Broadway Exit is led by J.D. Ashley Jr., Thomas Murchison III, Stuart Hankins and Rick Ashley.

The deal is financed with a $249,000 loan from Centennial Bank of Conway. The property was assembled in three transactions totaling $98,000.

The sellers were Mary Mitchener, Nell Beaubien and Patricia and James Beaubien, $18,000 in August 1995; the estate of G’Nettie Caldwell, $26,000 in May 1997; and Levy Church of Christ, $54,000 in July 1997.

Warehouse Acquisition

An 18,614-SF warehouse in southwest Little Rock sold for $275,000.

JEA Investments Ltd. LLLP, led by John and Catherine Allen, purchased the 9222 Interstate 30 project. The seller is the Clifton Family LLLP, led by Norman Clifton.

Clifton Family acquired the 3.55-acre development for $170,000 in November 2014 from Triumphant Deliverance Fel-lowship International.

Denny’s Dirt

The site of a Denny’s in south Little Rock rang up a $211,000 transaction.

MLR Properties LLC, led by Yanir Ben-Zikri, bought the 1.46-acre location at 4300 S. University Ave. The seller is National Retail Properties Ltd. of Orlando, Florida.

The deal is funded with a $178,500 loan from Centennial Bank.

The land was purchased from Denny’s Inc. of Spartanburg, South Carolina, in September 2006 as part a $2.2 million deal that included the 5,400-SF restaurant.

Enmar Project

A 6,564-SF office-warehouse in south Little Rock is under new ownership after a $159,900 sale.

CSC LLC, led by Richard and Debbie McGrew, acquired the 7600 Enmar Drive project from District Lodge W2 of the International Association of Machinists & Aerospace Workers.

The deal is backed with a five-year loan of $215,920 from Southern Bancorp Bank of Arkadelphia.

The property was bought for $65,000 in December 1974 from Harry Tschumi Jr. and his wife, Geraldine.

Edgehill Manor

A 4,478-SF home in Little Rock’s Edgehill neighborhood tipped the scales at $1.47 million.

Paul and Sabrina Mangum purchased the house from Mary and Hunter Carpenter.

The deal is financed with a 30-year loan of $800,000 from Simmons First National Bank of Pine Bluff.

The residence was linked with a January 2013 mortgage of $1 million held by One Bank & Trust of Little Rock.

The Carpenters acquired the property for $800,000 in October 2011 from the Ann Hancock Tucker Revocable Trust.

Country Club House I

A 4,232-SF home near the Country Club of Little Rock weighed in at $950,000.

John and Catherine Schuhmacher bought the house from Benjamin and Katherine Butler. The deal is funded with a 30-year loan of $375,000 from IberiaBank Mortgage Co. of Little Rock.

The residence previously was tied to a January 2009 mortgage of $255,000 held by Bank of the Ozarks.

The Butlers purchased the property for $770,000 in July 2008 from D&R Real Estate LLC, led by Robert Richardson Jr.

Country Club House II

A 2,977-SF home near the Country Club of Little Rock changed hands in a $548,000 sale.

Andrew and Elizabeth Lewis acquired the house from John Stuckey III and his wife, Kelly.

The deal is backed with a 30-year loan of $417,000 and a five-year loan of $76,200 from Eagle Bank & Trust of Little Rock.

The residence previously was linked with October 2013 mortgages of $416,000 and $29,000 held by Bank of Little Rock Mortgage Corp.

The Stuckeys bought the property for $520,000 21 months ago from the Susanna Elizabeth Shermer Revocable Trust.

Multifamily Mortgage

A 126-unit piece of a Little Rock apartment project is securing a $5.5 million funding agreement.

Cantrell Heights LLC, led by John Bailey, obtained the five-year loan from Relyance Bank of Pine Bluff.

The 4.9-acre portion of the former Valley Heights Apartments at 6900 Cantrell Road previously was tied to an April 2013 mortgage of $4.48 million held by Centennial Bank.

The limited liability company purchased the property for $4.4 million 26 months ago from the bank.

New Life Funding

A North Little Rock congregation landed a $2 million mortgage.

New Life Church of Arkansas Inc. received the one-year loan from First Security Bank of Searcy.

The 15.6-acre development at 8000 Crystal Hill Road previously helped secure an April 2014 mortgage of $1 million held by the bank.

The church also secures a November 2007 mortgage of $7.4 million and helps secure an August 2008 mortgage of $1.5 million held by Centennial Bank.

The site near the northeast corner of Crystal Hill Road and Interstate 430 was acquired for $3.8 million in July 2005 from the John Q. Hammons Revocable Trust.

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