The sale-leaseback of a 30,375-SF industrial project in Little Rock was at the heart of a $1.18 million transaction.
GREW LLC, led by Ed Willis and Gary Rogers, purchased the Treadway Electric property at 3300 W. 65th St. The seller is Treadway Electric Co., led by Terry Rogers.
The deal is funded with a five-year loan of $944,000 from BancorpSouth Bank of Tupelo, Miss.
The 4.99-acre location was acquired for $26,000 in September 1957 from Industrial Development Co., led by R.A. "Brick" Lile.
Meadows Transaction
Fifty-five residential lots in Jacksonville shifted ownership in a $961,000 transaction.
Jacksonville Partnership for Housing Ltd., led by Mike Wilkerson, bought the property in The Meadows neighborhood, north of Adkins Elementary School on Cloverdale Road.
The seller is Traditional Development LLC, led by Brian Boroughs. The limited liability company provided a one-year loan to finance the deal.
The property previously was tied to a March 2007 mortgage of $1.07 million, a November 2007 mortgage of $425,000 and a July 2008 mortgage of $1.7 million held by First Arkansas Bank & Trust of Jacksonville.
The land was purchased in March 2007 as part of a $300,000 deal with Joey and Mary Dupree Price.
Chenal Circle Sale
A 5,000-SF home in the Chenal Circle neighborhood of west Little Rock’s Chenal Valley development changed hands in a $759,000 transaction.
Duane and Lisa Highley acquired the house from MDP Properties LLC, led by Mary Pickering and her son, David. The deal is backed with a 10-year loan of $607,200 from Fifth Third Mortgage Co. of Cincinnati.
The residence previously was linked with a November 2009 mortgage of $640,000 held by Arvest Bank of Fayetteville.
Mary and David Pickering Sr. sold the house for $890,000 in May 2004 to Winifred and Cynthia Garrison. Ownership of the house shifted to MDP Properties in November 2009 after the Garrisons successfully sued to have the sale rescinded. The dispute centered on termite damage discovered after the Garrisons moved into the house.
Condo Acquisition
Condominium space on the 16th floor of a downtown Little Rock high-rise rang up a $661,000 sale.
Timothy Chappell purchased the 2,098-SF unit from River Market Tower LLC, led by Jimmy Moses and Rett Tucker. The deal is funded with a 30-year loan of $594,000 from Metropolitan National Bank of Little Rock.
The 1.2-acre development at 315 Rock St. is financed with a May 2007 mortgage of $47.6 million and an October 2005 mortgage of $4.7 million held by Metropolitan National Bank.
The site on the east side of Rock Street between Third and Fourth streets was acquired more than six years ago as part of a nearly $5 million deal with the Arkansas Teacher Retirement System.
Country Club Home
A 3,470-SF home near the Country Club of Little Rock drew a $575,000 transaction.
Daniel and Lindsey Berardi bought the house from Zipco of Little Rock Inc., led by William Wrape III.
The deal is backed with a 30-year loan of $417,000 from Bank of Little Rock Mortgage Corp. and $100,000 loan from Delta Trust & Bank of Little Rock and the Lindsey R.J. Prince Irrevocable Trust.
The residence previously was tied to a December 2004 mortgage of $592,000 and a June 2006 mortgage of $110,000 held by Allied Bank of Mulberry (Crawford County).
The property was purchased for $376,000 more than seven years ago from Phillip and Carol McMath.
Courts House
A 4,900-SF home in The Courts neighborhood of west Little Rock’s Chenal Valley development sold for $502,000.
National Equity Inc. of Omaha, Neb., acquired the house from Eric and Meredith Thoendel. The residence previously was linked with a February 2008 mortgage of $388,000 held by Flagstar Bank of Troy, Mich.
National Equity then sold it for $495,000 to Chad and Carrie Richard. The deal is financed with a 10-year loan of $390,000 from Moore Mortgage Inc. of Little Rock.
The Thoendels bought the property for $588,000 in February 2008 from MJ Innovative Builders Inc., led by Jamal Solaimanian.
Concrete Funding
A 2.85-acre commercial development in Sherwood was used to help secure a $13.3 million funding agreement.
Brundage-Bone Concrete Pumping Inc. of Denver obtained the five-year loan from Wells Fargo Bank of Sioux Falls, S.D.
The 3,900-SF facility at 8908 Landers Road was purchased for $500,000 in January 2007 from Zumwalt Family LLC, led by Joan Zumwalt.
Church Financing
A Maumelle congregation landed a $3.4 million financial package.
First United Methodist Church received the five-year loan from One Bank & Trust of Little Rock.
The 4.9-acre development at 1201 Edgewood Drive previously was tied to a July 2004 mortgage of $3.8 million held by Twin City Bank of North Little Rock.
Ownership of the property was transferred to the church in June 1989 from Don Barrett Jr., and his wife, Jennifer.
Warehouse Mortgage
A 61,000-SF office-warehouse project in east Little Rock is backed with a $2.68 million mortgage.
Ben Davis Properties Management LLC, led by Ben and Diane Davis, got the five-year loan from One Bank & Trust. The 21.4-acre Convenience Store Supply development at 2200 E. Roosevelt Road previously was linked with a September 2011 mortgage of $1.3 million held by the bank.
The property was acquired for $425,000 five months ago from Little Rock Co. of Beverly Hills, Calif.
Construction Loan
Expansion of a construction equipment sales and rental operation in southwest Little Rock is in motion with a $2.28 million construction loan.
Morehead Real Estate LLC, led by Carl Morehead, obtained the 10-year loan from Summit Bank of Arkadelphia.
The JCB of Arkansas property at 12827 Interstate 30 previously was used to help secure an October 2010 mortgage of $450,000 held by the bank.
The 8.36-acre site was bought in October 2010 as part of a $450,000 deal with Garrett Partners Inc., led by Roxanne Garrett, and Roger Sanders Inc.
Retail Funding
A 15,000-SF retail project in Little Rock’s Hillcrest area is securing a $1.2 million funding agreement.
Hillcrest Properties Inc., led by Kelley Johnson, received the two-year loan from BancorpSouth Bank.
Hillcrest Properties purchased the half-acre Kavanaugh Square development at 2701 Kavanaugh Blvd. for $556,500 in April 1993 from National Bank of Commerce in Memphis.
Walgreen’s Note
The owner of a 13,328-SF Walgreen’s in North Little Rock picked up a $1.1 million financial package.
Hawkins-Smith JFK, led by Gary Hawkins and Steven Smith, got the five-year loan from Symetra Life Insurance Co. of Seattle.
The project at 4823 JFK Blvd. previously was tied to a May 1995 mortgage of $1.1 million held by SunAmerica Life Insurance Co. of Woodland Hills, Calif.
The 1.15-acre site is leased from Lilac LLC, led by Andy Collins.
Retirement Refinance
A 46-unit retirement center in Sherwood was refinanced with a $1 million mortgage.
8900 JFK LLC, led by Ed Holman, obtained the loan from North Little Rock’s National Bank of Arkansas.
The Retirement Centers of Arkansas project at 8900 Highway 107 previously was linked with a July 2005 mortgage of $1 million held by Simmons First National Bank of Pine Bluff.
The 1.3-acre development was acquired for $1.1 million more than six years ago from Retirement Centers of Arkansas Inc., led by Jeanette Flemister.
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