Towne Center Sale Closes at $4.3M (Real Deals)

Towne Center at 115 Audubon Drive in Maumelle. (Google Maps)

A 34,418-SF commercial project in Maumelle tipped the scales at $4.3 million.

MTC Baseline LLC, an affiliate of Denver’s Baceline Group, acquired the Towne Center at 115 Audubon Drive from 12M Commercial Properties LLC of Sallisaw, Oklahoma.

12M Commercial purchased the 4-acre development for $3.2 million in October 2019 from McCarley Family Ltd., led by Anne McCarley; the B.B. McCarley Residuary Trust; and the estate of Mildred McCarley.

The McCarleys bought the project for nearly $3.9 million in April 2005 from Phillips Development Corp., led by Chester Phillips.

Lexicon Expansion

The 40,438-SF former Delta Dental call center in the Little Rock Port Industrial Park weighed in at $2.6 million.

Lexicon Inc., led by Patrick Schueck, purchased the 7773 Sloane Drive project from the city of Little Rock.

The city acquired the 4.97-acre development for $2.2 million in September 2022 from Delta Dental Plan of Arkansas Inc., led by Kristin Merlo.

Autozone Assembly

Land for an auto parts warehouse project in Little Rock was assembled in two deals totaling $1.7 million.

Autozone Development LLC of Memphis bought the 5.2-acre Mud Connection development at 5809 S. University Ave. for $1.25 million from Big Tire Properties LLC, led by Ryan Holder and Thomas Blackmon.

The adjoining 1-acre Niblock & Associates/Drive Easy Auto Sales development at 5701 S. University Ave. was acquired for $450,000 from The Jesus Is Lord Living Trust, led by Gregory and Shelli Niblock.

Big Tire purchased its property for $485,000 in November 2013, and the Niblocks bought their property for $250,000 in December 2010. The seller in both deals was Martindill Properties Inc., led by Butch Martindill.

Riggs Purchase

A 38.25-acre tract in west Little Rock sold for $1.34 million.

J.A. Riggs Co., led by John Riggs IV, acquired the land along the east side of Shackelford Road at Shackleford Ridge Road from Antioch Missionary Baptist Church and the Missionary Baptist Seminary & Institute.

The property was assembled for $88,449 as part of two June 1969 deals with Dorris Hill.

Site Sale

A 1.28-acre commercial site in west Little Rock drew a $950,000 transaction.

HCO LIT LLC of Daphne, Alabama, bought the parcel near the northwest corner of Highway 10 and Chenal Parkway from PDC Ltd., led by Gene Pfeifer. The deal is backed with a $3.6 million funding agreement with PCF Lending Ltd. of Dallas.

The property was part of a 373-acre purchase the Pfeifer family made in August 1972 totaling $522,900. The sellers were M.W. and Gladys Staples, R.J. and Gladys O’Connell, T.H. Brown and Josephine Graham, $425,000; and El Dorado’s Deltic Farm & Timber Co., $97,900.

Industrial Transaction

A 9,000-SF industrial building in Sherwood rang up a $480,100 sale.

Sundown Management Group LLC, led by Corbin and James Kidd and Patrick and Scarlett Melikian, purchased the 1041 Lantrip Road project from Jacksonville’s First Arkansas Bank & Trust.

The bank recovered the 0.82-acre development through a $383,178 foreclosure sale in July from Linrock Management Inc., led by Kurt Luth.

Armadillo Acquisition

A 2,036-SF retail project in south Little Rock is under new ownership after a $250,000 deal.

Salina Nou and Yoklieng Tiv acquired the Armadillo’s Hands at 6318 Col. Glenn Road from Joseph Frawley.

Frawley purchased the 0.46-acre development for $125,000 in March 1990.

The seller was Bullock Investment Co., led by John and Jessie Bullock.

Chenal Downs

A 6,661-SF home in the Chenal Downs neighborhood of west Pulaski County tipped the scales at $1.47 million.

Marina Mikhailova bought the house from Christopher Flake.

The deal is financed with a 30-year loan of $766,550 from Bank of England.

Flake acquired the residence for $1.1 million in February 2013 from Charles and Cindy Harper.

Hall View

A 5,360-SF home in Little Rock’s Hall View neighborhood changed hands in an $892,000 deal.

Bailor and Enya Hardman purchased the house from Tim Miller.

The deal is funded with a 30-year loan of $713,600 from Commerce Bank of Kansas City, Missouri.

Miller bought the residence for $345,000 in March 2016.

The seller is  the Lucille M. Kelly Irrevocable Trust.

Sezanne Court

A 5,482-SF home in west Little Rock’s Sezanne Court neighborhood sold for $780,000. Matthew and Ana Bridges acquired the house from Robert and Carla Gunderman.

The deal is backed with a 30-year loan of $380,000 from Navy Federal Credit Union of Vienna, Virginia.

The Gundermans purchased the residence for $511,000 in December 2010 from Dean and Tina Worley.

Woodlands Edge

A 3,920-SF home in the Woodlands Edge neighborhood of west Little Rock drew a $725,000 transaction.

Gina Tilley bought the house from Harjot Hunjan. The deal is financed with a 30-year loan of $507,500 from Ark-La-Tex Financial Services LLC of Plano, Texas.

Hunjan acquired the residence for $549,000 in October 2019 from Andrew Smith.

The Courts

A 4,455-SF home in The Courts neighborhood of west Little Rock rang up a $700,000 sale. The Ben & Abby Rainwater Family Trust purchased the house from Gina Tilley.

The deal is funded with a 30-year loan of $400,000 from Nationstar Mortgage LLC of Dallas. Tilley bought the residence for $589,900 in October 2015 from Chad and Lillian Cooper.

Pinnacle Point

Kris and Karen Upton paid John Davis Sr. and his wife, Sara, $1.56 million for their 5,160-SF home in Cammack Village’s Pinnacle Point neighborhood.

The Davises acquired the residence for $1 million in November 2008 from the Glenn & Janet Davis Family Revocable Trust.