FDH Enterprises Inc., led by TCBY Enterprises founder Frank Hickingbotham, bought the Porsche dealership development at 516 Col. Glenn Plaza Loop in west Little Rock from Indigo Properties Arkansas Inc., an affiliate of Houston’s Indigo Auto Group, for $16.4 million.
Indigo Properties bought the 2.06-acre site for $799,000 in October 2021 from Glenn Ridge Crossings LLC, led by Steve Hockersmith. Construction was backed with a $12 million construction advance on a four-year mortgage from Comerica Bank of Dallas.
Building permits with the city of Little Rock indicate more than $13.6 million in declared value on the construction project.
Indigo Auto Group of Houston owns the Porsche Little Rock dealership, which opened in 2024, along with 29 other current and upcoming locations. Gene Whisenhunt, president and COO of Hickingbotham Investments, said the company will be the landlord on the property and that the move was part of repositioning the company’s assets to focus on the Southern United States. Hickingbotham has previously owned up to 20 luxury automotive dealerships in Southern California but has slowly reduced that number, Whisenhunt said.
Hickingbotham founded TCBY Enterprises in 1981 and was named to the Arkansas Business Hall of Fame at the University of Arkansas in 2006.
Maumelle Warehouse
A 160,000-SF warehouse at 1401 Murphy Drive in Maumelle brought $8.72 million in a sale to a pair of Arkansas companies formed by individuals from New Jersey.
Maumelle Warehouse LLC, led by Kevin Huchingson of Colliers, sold the development to Gray Halligan 1 LLC and 4617 Taylor St Acquisition LLC. The new ownership is split 75/25 between Gray Halligan 1, led by Ian Hawk, and 4617 Taylor St. Acquisition, led by Riley Park. Hawk and Park are from Bergenfield, New Jersey.
Arvest Bank of Fayetteville provided a five-year mortgage of $5.6 million.
Maumelle Warehouse acquired its interest in the 10.69-acre development in February 2002 as part of a $3.6 million transaction with California Property Associates 4 Ltd. of Los Angeles.
ARcare Office
ARcare, a nonprofit health care provider based in Augusta, purchased a medical office building in North Little Rock in a $1.8 million deal.
The nonprofit, led by Talmage Whitehead, bought the 9,008-SF facility at 2411 McCain Blvd. from Chi Arthritis & Rheumatology PLLC, led by Jasen Chi.
Chi Arthritis & Rheumatology purchased the 0.84-acre development in July 2024 for $1.5 million. The company had purchased the property from Blackburn Capital LLC, led by Lyle D. Foster in July 2024.
Heights House
Stephen Polk Jr. and Jatha Knott-Polk purchased a 3,742-SF residence in the Heights area of Little Rock for $1.05 million from James and Deanna Sasaki-Adams.
The couple, from West Palm Beach, Florida, secured the property with a 30-year, $875,812 mortgage from Mortgage Research Center LLC, doing business as Veterans United Home Loans of Columbia, Missouri.
The Sasaki-Adamses bought the property for $980,000 in December 2022 from Rebecca Engstrom.
Ensbury Place
The Elsaidi Family Trust, led by Murad Hussan Elsaidi, purchased a 4,688-SF house in the Ensbury Place neighborhood in west Little Rock from the Sharolia Living Trust for $900,400.
The deal is financed with a 30-year, $720,000 mortgage from Regions Bank of Birmingham, Alabama.
The Sharolia Living Trust, led by Kanti T. Sharolia and Nila K. Sharolia, bought the property for $714,000 in June 2020 from HA Custom Homes, led by Subrahmanyam Narravula.
Miramont Circle
Stephen and Tammy Jones paid $1.29 million for a newly constructed 3,526-SF house in west Little Rock’s Miramont Circle neighborhood.
Centennial Bank of Conway provided the Joneses a 30-year mortgage of $895,000.
The sellers, Michael and Carolyn Boshears, bought the 0.37-acre site from PotlatchDeltic Real Estate LLC for $194,000 in September 2024. Little Rock construction permits show approximately $1.02 million in declared value for the house.
Duplex Sale
1501 Michael Drive LLC, led by Georgia Johnston, paid $1.2 million for a pair of duplexes in Little Rock.
Central Bank of Little Rock provided a five-year mortgage of $1.1 million.
The company bought the 0.76-acre development at 1501 and 1509 Michael Drive from Community Living Inc., led by Georganna Imhoff Huddleston. Community Living acquired the site in 1989 for $34,000 from Big K Development Corp., led by Kelton Brown.
Miramont Circle
JSPG Investments LLC, led by Jeremy Scott Nipps, paid $1.57 million for a property in the Miramont Circle neighborhood of Chenal Valley in west Little Rock.
First Security Bank of Searcy provided a one-year mortgage of $1.12 million.
The company bought the 0.32-acre property from James H. Price Inc., led by James H. Price, for $279,000 from PotlatchDeltic Real Estate LLC in September 2024. Little Rock building permits show at least $975,000 in declared construction value at the property.
The Arbors
Neelam and Virendar Verma paid $1.14 million for a 5,050-SF house in the Arbors neighborhood of Chenal Valley in west Little Rock.
The Vermas purchased the 0.42-acre property from the Janet Campbell Weideman Revocable Trust. Weideman purchased the property in October 2016 from Jeffrey and Eunah Henning of Los Angeles for $780,000.
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