Real estate improvements associated with fixed-base operations at the Clinton National Airport in Little Rock generated tandem multimillion-dollar deals.
Stephens Investments Holdings LLC, led by Warren Stephens, acquired the 45,117-SF hangar at 2201 Bond Ave. for $9.2 million.
The 2.6-acre development in turn is subleased to Truman Arnold Cos. of Texarkana, Texas, which owns TAC Air.
The venture provides fuel and other services for general aviation at 14 airports across the country.
The Stephens Group LLC, led by siblings Witt Stephens Jr. and Elizabeth Stephens Campbell, purchased the 44,337-SF hangar at 2101 Bond Ave. for $8.2 million.
The 2.7-acre development also is subleased to Truman Arnold Cos.
The site for the hangars is owned by the Little Rock Airport Commission and leased to Stephens Investments and Stephens Group.
The Stephens entities acquired the improvements on the west side of the airport, known as Adams Field, from Supermarine of Little Rock LLC of Santa Monica, California.
Warren Stephens is the cousin of Witt Stephens Jr. and Elizabeth Campbell.
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