Pipe Plant Sale Tops $7.7 Million (Real Deals)

A 276,000-SF industrial valve plant in Little Rock weighed in at $7.75 million.

GTM I30 Holdings LLC, led by Rene Morgan, acquired the 7200 Interstate 30 project from Cameron International Corp. of Houston.

The deal is financed with a five-year loan of $7.4 million from Relyance Bank of White Hall.

The 22.27-acre development was purchased in April 1998 as part of the $100 million acquisition of Orbit Valve International Inc., led by Ed Ligon.

PV Living Center

A 97-bed nursing home in west Little Rock tipped the scales at $5 million.

Pulaski County Nursing Estates LLC, led by Michael Morton, bought Pleasant Valley Living Center at 12111 Hinson Road from Arkansas Nursing Home LLC of Baton Rouge.

The deal is backed as part of a five-year loan of $36 million from BOKF in Tulsa.

The 2.51-acre location was acquired for $163,000 in December 1988 from Ewing Health Systems Inc. of Grand Rapids, Michigan.

Commercial Shuffle

The 8,120-SF Chase Bank/Mattress Firm project in west Little Rock shifted ownership in a $4.35 million transaction.

Tempus Cantrell Ridge LLC purchased the 1.63-acre development at 11400 Cantrell Road from Cantrell Ridge Holdings LLC. The investment groups are both led by Isaac Smith, president of the Little Rock office of Colliers International.

The project is helping secure funding agreements of $46.2 million (10 years) and $23.1 million (five years) and $30.7 million (one year) with First Security Bank of Searcy.

The property was bought for $4.5 million in September 2014 from Chi-Little Rock LLC of Greenville, South Carolina.

Motel 6 Sale

A 128-room Motel 6 in Little Rock rang up a $2 million sale.

Sai Satya LLC, led by Dinesh Patel, acquired the 7501 Interstate 30 project. The seller is Sargam Hospitality Inc., led by Amrut Patel.

The deal is financed with a 20-year loan of $2 million from Pauls Valley National Bank in Oklahoma. 

Sargam Hospitality purchased the 2.3-acre development for $1.7 million in September 2013 from G6 Hospitality Property LLC, an affiliate of Blackstone Real Estate Investors of New York.

Jacksonville Inn

A 57-room motel in Jacksonville drew a $1.49 million transaction.

Siya Hospitality LLC, led by Jaiminbhai and Zalakben Patel, bought the Jacksonville Inn at 200 T.P. White Drive. The seller is MGD Inc., led by Arvind Shah.

The deal is backed with a five-year loan of $1.4 million from Arkansas Federal Credit Union of Little Rock.

MGD acquired the 2.47-acre development for $1.1 million in October 2005 from Ramada Inn of Jacksonville Inc. and AEG Enterprises Inc., both led by Bart Gray Jr.

Woodlands Purchase

A 310-acre tract in south Pulaski County sold for $1.03 million.

Clear Creek Woodlands LLC, an affiliate of Timberland Investment Resources in Atlanta, purchased the property 1.3 miles west of the Hensley community.

The seller is Ridgewood Timber Corp., led by Derrick Spinks. 

The land was bought for $545,000 March 2020 from Harris Family Co. LLC, led by Bolton Harris III.

Office-Warehouse I

A 7.06-acre warehouse development in south Pulaski County changed hands in a $700,000 deal.

Betts Real Estate Enterprises Inc., led by Craig Betts, acquired the 25,275-SF office-warehouse and 10,086-SF warehouse at 11714 Arch St. Pike and the 63,064-SF warehouse at 11800 Arch St. Pike from the Teresa Ann Stalnaker Revocable Living Trust.

The deal is funded with a five-year loan of $700,000 from First Security Bank.

The project was purchased as part of deals with Don and Mary Thomas, $100,000 in April 1989; and Little Rock’s Union National Bank of Arkansas, $210,000 in July 1990.

Coastal Property

The Downen Oil project and neighboring 5,736-SF tire store-service garage are under new ownership after a $550,000 transaction.

Abwein Village Retail LLC, led by Amjad Kottam, Sahar Kottam, Fadi Qtouf and Dania Abujaber, bought the Coastal convenience store-car wash at 4912 Asher Ave. 

The deal included the adjoining 0.75-acre Dale’s Tire development at 4908 Asher Ave.

The seller is Downen Rental Properties Inc., led by Nancy Downen.

The corporation provided a five-year mortgage of $350,000 to finance the deal.

The 1.73-acre development at 4912 Asher includes a 2,406-SF office and 1,032-SF house. 

The properties were acquired for $262,000 in June 1978 from H.J. and Velma Caldwell.

Office-Warehouse II

A 14,000-SF office-warehouse in Little Rock rang up a $525,000 sale.

Atlas Ventures LLC, led by Faheem Saleem, purchased the 5120 W. 65th St. project from Liberty Enterprise Group LLC of Joplin, Missouri.

The deal is backed with a 20-year loan of $400,000 from Citizens Bank of Batesville.

Liberty Enterprise bought the 1.21-acre development for $535,000 in October 2018 from the Davis Family Trust, led by William and Barbara Davis.

Residential Acreage

About 33 acres of undeveloped residential land in Jacksonville drew a $325,000 transaction.

Medlock Management Co. LLC, led by Brad Medlock, acquired the land on the west end of Fawnwood Drive, south of Lakewood Drive.

The seller is BOE Acquisition Company Inc., an affiliate of Bank of England.

The property was recovered from the Dupree Co., Thomas and Arleta Dupree and Lawrence Dupree in July 2013 as part of a $2.5 million foreclosure sale.

Covenant Land

A 25.4-acre tract in Jacksonville sold for $250,000.

Emmanuel Covenant Community Church bought the land near the northwest corner of General Samuels Road and Lost Creek Drive.

The seller is Newland Development LLC, led by Paul Fulmer.

Newland Development acquired the land in March 2005 as part of a $230,000 deal.

The sellers were Stephen Wells, Claude Wells Jr., and his wife, Sally, and David and Rose Wells.

Delite Acquisition

A 3,200-SF office building in Jacksonville changed hands in a $175,000 deal.

Shopping Delite Inc. of Alton, Illinois, purchased the Quality Dental Lab project at 1927 Main St. from Bassam and Sonya Jarkas.

The 0.61-acre development was bought for $125,000 in March 2000 from Target Printing Co., led by Alton Johnson.

Hickory Hills

A 5,436-SF home in west Little Rock’s Hickory Hills neighborhood was acquired by the Sandra Trantham Living Trust from Glen and Jennifer Day for $1.4 million. 

The Days bought the residence for $785,000 in July 1998 from Dr. Alonzo Williams and Henrietta Williams.