Tandem Industrial Buy Surpasses $7.4M (Real Deals)

Handling Systems & Conveyors 10711 and 10909 Otter Creek East Blvd., Little Rock (Google Maps)

Two properties in west Little Rock occupied by Handling Systems & Conveyors sold in separate transactions totaling $7.42 million.

Ariv Investments LLC of Aspen, Colorado, acquired the 46,754-SF office-warehouse complex at 10909 Otter Creek East Blvd. for $3.19 million and the 23,400-SF office-warehouse complex at 10711 Otter Creek East Blvd. for $4.23 million.

The sellers are Akers Everett Stout & Sawyer LLP and HSC-11701 Otter Creek LLC, both led by Andrew Everett.

The deals are funded with loans of $2.1 million and $1 million from Northern Trust Co. of Chicago.

The 2.3-acre site at 10909 Otter Creek East Blvd. was purchased for $135,000 in December 1994 from Otter Creek Development Co., led by Robert Light and Robert McGinnis.

The 2.15-acre development at 10711 Otter Creek East Blvd. was bought for $605,000 in July 2019 from LTL Enterprises LLC, led by Danny Petty and Richard Cross.

Multifamily Purchase

A 43-unit apartment project in west Little Rock tipped the scales at $3.97 million.

LRPV LLC, led by T.J. Lefler, purchased the Pinnacle Valley View Apartments at 2-26 Pinnacle Valley View Drive.

The seller is Brown Family Trust, led by Valerie Brown.

The deal is backed with a five-year loan of $4.5 million from First National Bank of Paragould.

The 5.52-acre site was acquired for $242,000 in January 1994 from the Schwander Family Trust, led by Howard and Dorothy Schwander; and the Rose Claire S. Weintraub Testamentary Trust.

South on Main Deal

An 8,000-SF retail project in downtown Little Rock weighed in at $1.25 million.

SOMA Storefronts LLC, led by Rusty Thompson, sold its namesake property at 1220-24 Main St., home to Rock N’ Roll Sushi and Blue Rose Beauty & Brow Artistry and formerly Mockingbird Bar & Tacos.

The buyer is Haybar Properties LLC, led by Bryan Hosto. The deal is financed with a $1 million loan from Centennial Bank of Conway.

SOMA Storefronts bought the 0.22-acre development for $800,000 in April 2018 from South Main Properties, led by Fred Gray.

Convenient Acquisition

A 2,400-SF convenience store in west Little Rock drew an $850,000 transaction.

SIKH2 LLC, led by Rajbir Singh and Daljit Multani, acquired the EZ Mart at 11701 W. Markham St.

The seller is GPM Southeast LLC, an affiliate of GPM Investments of Richmond, Virginia.

The deal is funded with a 20-year loan of $578,000 from Stone Bank of Mountain View.

GPM Southeast purchased the 0.48-acre development for $841,465 in April 2018 from E-Z Mart Stores Inc., led by Sonja Hubbard.

Office Transaction I

A 6,352-SF office building in west Little Rock rang up a $755,000 sale.

Wilmslow Group LLC, led by Dr. Chunyang Fan, bought the 5 Office Park Drive project from George Morledge III.

The deal is backed with a 20-year loan of $604,000 from Cadence Bank of Tupelo, Mississippi.

The 0.54-acre site was acquired for $52,000 in January 1979 from Jim Hathaway, the Oscar F. Kochtitsky Trust, Jennifer Mae Kochtitsky Trust No. 2, Dorthy Jean Kochtitsky, Harold and Mary Howland, Tad Krug, Tim Farrell and Joseph Hooper.

Office Transaction II

A 3,593-SF office building in west Little Rock is under new ownership after a $580,000 deal.

Lile Real Estate Inc., led by Gar Lile, sold its 401 Autumn Road project to Elson Properties LLC, led by Jodi Freifeld.

The deal is financed with a 10-year loan of $495,000 from First Horizon Bank of Memphis.

Lile Real Estate bought the 1.03-acre development for $320,000 in February 2010 from James and Sandra Wood.

Neighboring Investment

Adjoining commercial properties near the state Capitol changed hands in a $550,000 deal.

TJM Second & Summit Properties LLC, led by Ted and Julie Mullenix, acquired the 3,972-SF office building at 1922 Second St. and a 1,410-SF duplex at 111 Summit St.

The seller is BAJ Properties LLC, led by Richard and William Grant and Jan Perryman.

The 0.44-acre office property was bought for $25,000 in March 1965 from C.W. and Leon Peacock.

The 0.14-acre duplex property was purchased for $9,000 in May 1971 from the estate of Mamie Dickinson McCain.

Office Transaction III

A 2,300-SF office building in west Little Rock sold for $525,000. Base Camp LLC, an affiliate of J.A. Riggs Tractor Co., bought the Central Termite project at 14410 Cantrell Road. The seller is 14410 LLC, led by Lee Maris Jr.

The 3.7-acre development was acquired for $460,000 in 2004 from Harris Concrete Pumps LLC, led by Ray Harris.

Church Grounds

A 2.75-acre parcel in Maumelle drew a $475,000 transaction.

The Church of Maumelle purchased the land on the east side of Audubon Drive south of Millwood Circle.

The seller is Feim & Muho LLC, led by Feim Vesili.

The limited liability company bought the property for $370,000 in April 2023 from Audubon Business Development LLC, led by Quy Lamastus.

Power Property

Land for a new electric substation in the Little Rock Port Industrial Park attracted a $220,000 sale.

Entergy Arkansas LLC acquired the 9.72-acre parcel on the south side of Thibault Road near Old Thibault Road from the city of Little Rock.

The city purchased the property in October 2021 as part of a $4 million transaction.

The seller? South Port Properties LLC, led by Charles and Ruth Thomas.

Cypress Trail

D.R. Horton Inc. of Arlington, Texas paid $1.45 million to Cypress Trail LLC, led by Eric Holloway, for its 25-lot namesake subdivision between Maumelle and North Little Rock.

The nearly 5-acre site on the north side of Crystal Hill Road between Counts Massie Road and Dewaffelbakker Drive was bought for $300,000 in September 2023 from the estate of Alissa Saredy.