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North Little Rock Mini-Storage Sale Surpasses $4.8M (Real Deals)Lock Icon

4 min read

A 215-unit mini-storage project in North Little Rock weighed in at $4.85 million.

Arkansas Storage Centers VII LLC, led by Stuart Finley, bought Scott Storage at 8007 Counts Massie Road. The seller is RW Scott Enterprises LLC, led by Nels and Jocelyn Scott.

The deal is financed with a five-year loan of $4.8 million from First Security Bank of Searcy.

The 11.32-acre development previously was tied to a July 2017 mortgage of $2.2 million held by Centennial Bank of Conway.

The land was acquired in August 2001 as part of a $400,000 deal with Kevin Horton Properties LLC.

Equipment Sale-Leaseback

A 13,600-SF industrial project in east Little Rock tipped the scales at $3.02 million.

SCF RC Funding IV LLC, an affiliate of SCF Realty Capital of Princeton, New Jersey, purchased the 4726 Thibault Road project in a sale-leaseback deal with Equipmentshare.com Inc. of Columbia, Missouri.

The 5-acre development was bought for nearly $1.4 million in August from STT Inc., led by Shirley Heatherly.

Tacos Sale-Leaseback

A 3,813-SF restaurant in west Little Rock rang up a $2.7 million sale.

White Properties Ltd., led by Terrill White, acquired the Tacos 4 Life at 2630 S. Shackleford Road.

The seller is Tacos 4 Life Real Estate LLC, led by Austin Samuelson.

The deal is backed with a one-year loan of $2.7 million from Malvern National Bank.

The 1-acre development previously was linked with an August 2016 mortgage of $1.7 million held by Arvest Bank of Fayetteville.

The site was purchased for $775,000 more than three years ago from Shackleford Crossings Investors LLC, an affiliate of Invesco Real Estate of Dallas. It was recovered in July 2011 from Clary Development Corp., led by Steve Clary, as part of a $42 million foreclosure sale.

Multifamily Buy

A 44-unit apartment project in Sherwood changed hands in a $1.05 million deal.

Sherwood Place Apartments Inc., an affiliate of MFI Holding of New Zealand, bought the 8815 Woodbine Drive project.

The seller is Rablaco LLC, led by the Bradley C. Blakeway Family Trust.

The deal is funded with a $1.1 million loan from Centennial Bank.

The 3.5-acre property was assembled in two buys from Larry and Pamela Walden, $33,000 in January 1983; and Thomas and Mary Newby, $5,000 in August 1983.

Foreclosure Sale

A 15.85-acre commercial tract in North Little Rock changed hands in a $700,000 foreclosure sale.

Bank of Little Rock recovered the land along the west side of Interstate 440 between Faulkner Lake Road and U.S. 165 from Glover Properties LLC, led by James Glover.

The property previously secured an April 2017 mortgage of $780,000 held by the bank.

Glover Properties bought the land for $360,000 in October 2007 from J.A. Riggs Tractor Co., led by John Riggs IV.

Site Acquisition

A 4,934-SF commercial project in Little Rock drew a $400,000 transaction.

Site Oil of Arkansas LLC, led by Sulaiman Hudda and Rahim Juma, purchased the Abbey Carpet-Hardware Center at 7305 and 7309 Cantrell Road from Ollie and Lucy Hammett.

The deal is financed with a $329,000 loan from Centennial Bank.

The 0.41-acre development previously was tied to an April 2014 mortgage of $428,000 held by Simmons Bank of Pine Bluff.

The Hammetts acquired the property for $420,000 more than five years ago from the Krodell Revocable Living Trust, led by Carolyn Krodell.

Office Land

A 0.77-acre site in west Little Rock zoned for office development sold for $216,719.

DGK & JSK Properties LLC, led by Donald and John Knoernschild, bought the location at the northwest corner of Executive Center Drive and Executive Center Court.

The seller is APC Property Group LLC, led by Leigh Anne Bennett.

The property previously helped secure February 2013 mortgages of $1.5 million held by Simmons Bank and $1.3 million held by the U.S. Small Business Administration.

The land was purchased in August 2011 as part of a $301,000 deal with Westrock Partnership, led by Robert Vogel.

Valley Falls Estates

A 7,527-SF home in west Little Rock’s Valley Falls Estates neighborhood weighed in at $1.56 million.

Trudean and Karl Brown acquired the house from the David C. Dill Living Trust. The deal is backed with a 30-year loan of $1.4 million from Angel Oak Mortgage Solutions LLC of Atlanta.

The residence previously was linked to an October 2015 mortgage of $1.3 million held by One Bank & Trust of Little Rock.

The location was bought for $163,000 in August 2001 from VFE LLC, led by Rick Ferguson.

Near Woodlands Edge

A 2,948-SF home in the Woodlands Edge area of west Little Rock is under new ownership after a $680,000 deal.

Innovation Valley LLC, led by Bruce Murphy, purchased the 4.7-acre spread from Jack and Pattye Wilson Lassiter.

The Lassiters provided a two-year mortgage of $450,000 to fund the deal.

The Lassiters acquired the property in two deals.

The seller was Elgor Inc., led by Robert Wilson: $120,000 in August 1989 and $6,000 in December 2003.

Shadowlawn Abode

A 2,136-SF home in Little Rock’s Shadowlawn neighborhood rang up a $633,000 sale.

Jens Talbert bought the house from Kimon and Alisa Kosmitis.

The deal is funded with a 30-year loan of $506,400 from U.S. Bank of Cincinnati.

The Kosmitis family purchased the residence for $592,000 in May 2005.

The sellers were Michael and Charlotte Whitt.

Woodlands Edge II

A 4,075-SF home in west Little Rock’s Woodlands Edge neighborhood changed hands in a $550,000 deal.

Sammie and Bobby Morris acquired the house from Caroline Peacock and the estate of Justin Peacock.

The residence previously was tied to an October 2015 mortgage of $417,000 held by Bank of Little Rock Mortgage Corp.

The site was bought for $72,000 in August 2014 from Rocket Properties LLC, led by Ron Tyne and Lisenne Rockefeller.

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