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Otolaryngology Center Attracts $6.7M Sale (Real Deals)Lock Icon

5 min read

The sale of a 29,256-SF medical office building in west Little Rock tipped the scales at $6.75 million.

A.O.C. Kanis Properties LLC, led by Mitchell Bolding, bought the Arkansas Otolaryngology Center at 10201 Kanis Road.

The sellers in a 70-30 split were LAF Kanis LLC, led by Stephen LaFrance Jr., and 20201 Kanis Road LLC, led by Kevin Huchingson.

The deal is financed with a 10-year loan of $5.7 million from Simmons Bank of Pine Bluff. The 3.29-acre development previously was tied to a May 2015 mortgage of $2.6 million held by Southern Farm Bureau Life Insurance Co. of Jackson, Mississippi.

The project was purchased in October 2006 in a $5.2 million sale-leaseback with AOC Realty LLC, led by John Dickins.

Property Shuffle

A 2,370-SF convenience store in downtown North Little Rock was the focal point of a million-dollar real estate shuffle.

US Asset Holdings LLC of Dallas acquired the Exxon project at 416 E. Broadway from SCF TRS LLC, an affiliate of SCF Realty Capital of Princeton, New Jersey, for $1.05 million.

In turn, US Asset sold the 0.58-acre development adjoining Simmons Bank Arena for $1.54 million to Broad SBUX II LLC, led by Edward Bailey and James Harkins.

The deal is backed with a $454,117 loan from Riverside Bank of Sparkman.

SCF bought the project for $1.15 million in July 2019 from US Assets Acquisition LLC of Dallas.

Convenient Purchase

A 2,856-SF convenience store in North Little Rock is under new ownership after a $985,000 transaction.

NS Retail Holdings LLC, an affiliate of NetStreit Corp. of Dallas, purchased the Exxon project at 3320 JFK Blvd. The seller is Park Hill Investments Inc., led by Jimmy Crossfield.

The 0.84-acre property was assembled in two deals with Kelcro Inc., led by Ron Keltner, $450,000 in February 2005; and Nedra Dumas Wood and Sandra Dumas Garrett, $108,000 in July 2018.

Industrial Dirt

A 92.72-acre future industrial tract in east Little Rock rang up a $446,250 sale.

The city of Little Rock bought the land on the southern edge of the Little Rock Port Industrial Park and on the east side of Fletcher Road from T. Cook Farms LLC, led by Theoplis Cook.

The property was recovered in June 2014 from Butterfield Investments Inc., led by Arnold Jester. Butterfield forfeited ownership in lieu of foreclosure on an August 2008 mortgage of $400,000.

Office Transaction I

A 3,520-SF office building in west Little Rock changed hands in a $360,000 deal.

RHB Holdings LLC, led by Brad Horton and Brad Rickett, acquired the 400 Natural Resources Drive project.

The seller is Onsite Development Inc., led by Steve Jones.

The deal is funded with a 20-year loan of $284,257 from BancorpSouth Bank of Tupelo, Mississippi.

The 0.34-acre development previ-ously was linked with a May 2010 mortgage of $100,000 held by Centennial Bank of Conway.

Onsite bought the project from John Myers and Michael Loveless in May 2000 for $450,000.

Pabani Buy

A 1,103-SF commercial building in west Little Rock sold for $300,000.

Pabani Brothers LLC, led by Akbar and Aziz Pabani, purchased the NWA Gold, Silver & Loans shop at 8400 W. Markham St. The seller is Tolson Investments Inc., led by T.J. Tolson.

The 0.18-acre development previously was tied to a May 2019 mortgage of $160,000 held by First Security Bank of Searcy.

Tolson acquired the property from Brad and Marilyn Moore in February 1994 for $125,000.

Office Transaction II

A 6,823-SF office building in downtown Little Rock drew a $325,000 transaction.

Cavu Holdings LLC, led by Jon Marbaise and Arlis Harvey, bought the 320 Gaines St. project from the Christopher & Dana Durney Revocable Trust.

The deal is financed with a 10-year loan of $249,000 from Arvest Bank of Fayetteville.

The 0.1-acre development was purchased for $275,000 in December 1999 from RJ and Virginia Shell.

Sologne Circle

A 10,476-SF home in west Little Rock’s Sologne Circle neighborhood weighed in at $3 million.

Carol and William Witham acquired the house from the Arkansas Gift Foundation Inc., led by Corey Moline.

The residence previously was linked with a December 2014 mortgage of $1.5 million held by First Security Bank.

Larry Crain Jr. and his wife, Joy, transferred ownership to the foundation more than five years ago. The location was bought for $200,000 in December 2001 from El Dorado’s Deltic Timber Corp.

Cliffewood Abode

A 6,124-SF home in the Cliffewood neighborhood tipped the scales at $2.05 million.

The LEAA Real Estate Holdings Revocable Living Trust, led by Clinton McDonald, purchased the house from the namesake revocable trust of James and Meredith Hugg.

The deal is backed with a 30-year loan of $1.6 million from City National Bank of Los Angeles. The residence previously was tied to an October 2016 mortgage of $1.5 million held by Little Rock’s Bank OZK.

The location was acquired from the Jon P. Underhill Revocable Trust in September 2013 for $400,000.

Prospect Terrace

A 4,545-SF home in Little Rock’s Prospect Terrace neighborhood is under new ownership after an $895,000 deal.

James and Meredith Hugg bought the house from John and Anne Emerson. The deal is funded with a 30-year loan of $716,000 from BOKF of Tulsa.

The residence previously was linked with a March 2007 mortgage of $584,000 held by Bank of Little Rock Mortgage Corp.

The Emersons purchased the property for $730,000 13 years ago from Ed and Mary Levy.

High-Rise Condo

A 2,379-SF condo in downtown Little Rock’s River Market Tower rang up a $761,280 sale.

The namesake revocable trust of Mark and Cheryl Nichols acquired the 13th-floor residence at 315 Rock St. from Magalene Hogan and Donald Pfeifer.

The property previously was tied to a November 2014 mortgage of $225,000 held by Regions Bank of Birmingham, Alabama.

The condominium was bought for $685,000 more than five years ago from Trinity Properties & Investments II LLC, led by Doug Falls.

Osage Terrace

A 4,887-SF home in Maumelle’s Osage Terrace neighborhood changed hands in a $729,000 deal.

Rhett and Bethany Lane purchased the house from William and Deborah Hedden. The deal is financed with a 30-year loan of $484,350 from Premia Mortgage LLC of Troy, Michigan.

The residence previously was linked with a June 2013 mortgage of $404,000 held by Fayetteville’s Signature Bank of Arkansas. The location was acquired for $125,000 in October 2007 from Limine Mortgage LLC, led by Jay DeHaven.

Woodsong House

A 3,853-SF home in west Pulaski County’s Woodsong neighborhood sold for $509,000.

Robert and Wendy Slattery bought the house from George and Katherine Swann. The deal is backed with a 30-year loan of $520,707 from Mortgage Research Center LLC of Columbia, Missouri.

The Swanns purchased the residence for $275,000 in February 1998 from John Plumley and Phyllis Plumley.

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