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Nonprofit Transaction Surpasses $3.5 Million (Real Deals)Lock Icon

4 min read

A 9.64-acre nonprofit development in Little Rock tipped the scales at $3.52 million.

VisionCorps of Lancaster, Pennsylvania, bought the 6818 Murray St. manufacturing facility from North Carolina’s Winston-Salem Industries for the Blind Inc.

The project, which produces clothing products for the military, was previously owned by Arkansas Lighthouse for the Blind Inc., which was acquired in 2014 by Winston-Salem Industries for the Blind.

Arkansas Lighthouse assembled the property in three deals totaling $385,000.

The sellers were Industrial Development Co. of Little Rock, led by R.A. “Brick” Lile, $35,000 in December 1964; Timex Corp. of Middlebury, Connecticut, $260,000 in October 1984; and Doug Brandon Jr. and his wife, Elizabeth, $90,000 in July 1991.

White Oak Lots

Sixty-five lots in North Little Rock’s White Oak Crossing neighborhood weighed in at $2.92 million.

Rausch Coleman Homes Little Rock LLC of Fayetteville purchased the future home sites from NLR Dev Partners LLC, led by Tim Martin.

NLR Dev Partners acquired the land as part of two June 2022 transactions totaling 20.67 acres with John Fitzgerald, Florence Fitzgerald Jones, Sidney Fitzgerald and Charles Fitzgerald, $1 million; and James Fitzgerald, $250,000.

The Fitzgerald family bought the property for $95,000 in November 1974 from Ann Clifton.

Stone Canyon Land

More than 84 acres bordering the northern city limits of Maumelle changed hands in deals totaling $2.06 million.

Gosen LLC, led by Joseph Park, acquired the property that will be transformed into the Stone Canyon neighborhood from Ascent Development Group LLC, led by Eric Holloway.

The land is between state Highway 365 and the Union Pacific railroad tracks and extends east to Old Maumelle Road. The residential development is financed with three-year loans of $4 million and $824,000 from First Service Bank of Greenbrier.

Ascent assembled the property in two deals: Billie Jo Gray and Susan Bradley, $1.37 million for a 65.08-acre tract; and Joe Bradley, $375,00 for a 19.5-acre parcel.

The Bradley family has owned the land for more than 60 years.

Warehouse Purchase

A 50,000-SF warehouse on the northern outskirts of the Landmark community in south Pulaski County sold for $1.39 million.

BH Arch Street VII LLC of Bergenfield, New Jersey, bought the 12221 Arch Street Pike project from Haybar Properties LLC, led by Bryan Hosto.

The deal is backed with a $767,250 loan from Centennial Bank of Conway.

Haybar Properties acquired the 6.08-acre development in August 2021 as part of a $636,000 deal with Wilkins Industrial Park, led by Harrigan Wortsmith Jr., Kelly Parker and the Ed Wilkins Family Trust; and Wilkins Industrial Park LLC, led by Harrigan Wortsmith Jr.

Foreclosure Action

A bankruptcy in California led to a $1.27 million foreclosure sale in Little Rock.

Mountain View’s Stone Bank recovered nine commercial buildings with 193,000 SF under roof occupying a combined 18.5 acres from 3200 Myers Street Partners LLC, an affiliate of RPP Products of Bloomington, California.

In August, the bank obtained a default judgment of more than $1.5 million against the limited liability company tied to a series of delinquent loans. 3200 Myers Street Partners bought the properties in deals with:

► The Nature Conservancy, $250,000 in January 2015 for a 33,660-SF warehouse at 3201 S. Elm St.

► Michael Vick Jr., $190,000 in September 2016 for a 15,039-SF warehouse at 3000 S. Elm St., $317,500 in March 2017 for a 30,784-SF warehouse at 3800 W. 31st St. and $600,129 in May 2020 for a 27,952-SF warehouse at 3009 S. Elm St.

► Moon Distributors Inc., led by Stan Hastings, $750,000 in December 2016 for a 34,688-SF warehouse at 3015 Lewis St., a 30,360-SF warehouse at 3100 S. Elm St., a 9,500-SF warehouse at 4313 Asher Ave., a 6,500-SF warehouse at 4119 Asher Ave. and a 4,800-SF warehouse at 3013 Lewis St.

Office Acquisition

A 3,674-SF office building in west Little Rock drew an $810,003 transaction.

WDA 24 Rahling Circle LLC, led by Tim Daters, purchased its namesake address from TPJ Properties LLC, led by Daters, Paul White and Joe White Jr.

The deal is funded with a five-year loan of $463,000 from First Security Bank of Searcy.

The 0.37-acre property was bought for $250,000 in August 2000 from Pickering Inc., led by David Pickering Sr.

Repair Transaction

A 3,000-SF auto repair facility in Jacksonville is under new ownership after a $160,000 deal.

Pugh Auto Body & Collision LLC, led by Mitchell Pugh, bought the 1011 S. Redmond Road project from Xpress Media Blasting LLC, led by John Barber.

The deal is financed with a $45,000 loan from Central Bank of Little Rock.

Express Media Blasting acquired the 0.6-acre development for $150,000 in April 2022 from AJC Rental Co.

Shadowlawn Abode

A 4,525-SF house in Little Rock’s Shadowlawn neighborhood tipped the scales at $1.6 million.

The TBH Revocable Trust, led by Timothy and Alison Hicks, purchased the house from the Bret Barnett Revocable Living Trust.

The deal is backed with a 30-year loan of $975,000 from Regions Bank of Birmingham, Alabama.

Barnett bought the residence for $1.1 million in October 2009 from Thomas and Cecile Rose.

Falstone Court

A 5,030-SF home in west Little Rock’s Falstone Court neighborhood weighed in at $1.08 million.

Juan Huang and Jun Deng acquired the house from Auras Atreya. The deal is funded with a 30-year loan of $868,000 from Bank of America in Charlotte, North Carolina.

Atreya purchased the residence for $1 million in June 2023 from MJ Innovative Builders Corp., led by Jamal Solaimanian.

Sologne Circle

John and Jennifer Streitman paid $1.42 million for a 5,338-SF home in west Little Rock’s Sologne Circle neighborhood.

The sellers, Ahmed Abuabdou and Hebatalla Alhaddad, bought the residence for $1.3 million in December 2021 from Joey and Leslie Wiggins.

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