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WLR Auto Dealership Attracts $12.5M Sale (Real Deals)Lock Icon

5 min read

A 30,727-SF auto dealership project in west Little Rock weighed in at $12.5 million.

Riverside Properties LLC, led by Lisenne Rockefeller, bought the Jaguar-Land Rover-Volkswagen dealership at 25 Col. Glenn Plaza for $11.75 million.

The seller is LaRock Properties LLC, led by Lee Owens.

Riverside also acquired an adjoining 2-acre parcel for $750,000 from Mo Properties LLC, led by Owens.

Larock purchased its 7.08-acre site for $2.5 million in August 2005 from Glenn Ridge Crossings LLC, led by Steve Hockersmith; and LLEJ IV LLC, led by Leonard Boen.

Mo Properties bought its land for $882,000 in April 2013 from Landers Land Co. #7 LLC, led by Steve Landers.

Land Acquisition

A 79.77-acre tract in eastern North Little Rock tipped the scales at $5.04 million.

KOLP Irrevocable Trust, led by Keith Richardson, acquired the property located mostly along Forrester Road between East McCain Boulevard and East 46th Street.

The seller is Cross Street Service Inc., once led by Don Salmon. The land was assembled as part of 14 deals totaling more than $4 million.

The sellers were Louise McKee, $50,000 and $195,000 in June 1990; Laverne Jones, $204,000 in August 1994; Dorothy Crone, $165,000 in November 1995; Brents Family Revocable Trust, led by Sophia Brents, $245,000 in June
1997; Maud Melvin, $140,000 in July 1998; Thelma Reed, $125,000 in July 1998; Billy Joe and Kathleen Reed, $18,000 in August 1998; Woodcrest Co. LLP, led by James Matthews, $1 million in April 2002; Elizabeth Greer, $16,000 in November 2002; Julia Bland, $135,000 in July 2003; the Yelenich Family Trust, led by R.J. Yelenich, $1.3 million in September 2003; Rylwell LLC, led by Stephen Whitwell, $100,000 in March 2005; and Billy and Sue Morden and Wendell and Dianna Nicholson, $375,000 in March 2009.

Maly Property

A 37.28-acre tract in North Little Rock changed hands in a $2.56 million deal.

Maly Group LLC, led by Smitha Thomas and the Dr. James T. Thomas Family Heritage Trust, bought the land adjoining the west side of the former Wild River Country water park at 6820 Crystal Hill Road.

The seller is 2735 Villa Creek Ltd., an affiliate of G Squared Inc. of Dallas. 

The transaction represents the first step in establishing a mixed-use development with apartments, restaurants and more anchored by the Malys Entertainment Center with its T-Time golf venue

The deal is financed with a three-year loan of $1.9 million from First Community Bank of Batesville.

2735 Villa Creek acquired the land for $1.6 million in October 1998 from First National Mortgage Corp. on behalf of Parham Properties Inc., led by John P. McKay Jr.

Chenal Sites

Adjoining west Little Rock commercial sites on the north side of Rahling Road at Rahling Circle sold in tandem deals totaling $2.19 million.

Chenal Property Investors III LLC and Chenal Property Investors IV LLC, both led by Leonard Boen, purchased a 1.33-acre site for $1.16 million and a 1.25-acre site for $1.03 million from PotlatchDeltic Real Estate LLC.

The land was bought as part of the $1.2 billion merger of Potlatch Corp. of Spokane, Washington, and El Dorado’s Deltic Timber Corp. in December 2018.

Dollar Deal

A 9,090-SF Dollar General in North Little Rock drew a $1.37 million transaction.

Sigma Realty LLC of Grand Prairie, Texas, acquired the 11046 U.S. 165 project from GMan Properties LLC, led by Gary and Marketta Childers.

The 1.14-acre development was purchased for $1 million in May 2019 from Oakley Investments LLC and COIT Properties LLC, both led by Stephen Cox.

NLR Location

A 20-acre parcel in North Little Rock is under new ownership after a $1.25 million deal.

NLR Dev Partners LLC, led by Tim Martin, bought the land on the south side of Fitzgerald Lane two-tenths of a mile east of Counts Massie Road from John, Sidney, Charles and James Fitzgerald along with Florence Fitzgerald Jones.

The deal is backed with a two-year loan of $3.3 million from First Security Bank of Searcy.

The property was acquired from Ann Clifton  for $95,000 in November 1974.

Midtown Buys

A 5,400-SF retail project and small apartment project in midtown Little Rock rang up a pair of $687,500 deals.

Forward Properties LLC, led by Andrew Adkins, sold the Midtown Center at 5911 H St. to H Street Holdings LLC, led by Stephanie Lamberth. The deal is funded with a five-year loan of $772,650 from First National Bank of Paragould.

Forward Properties sold the Town-house Apartments at 822 N. Grant St. to SOM Investments LLC, led by Stephanie Lamberth, Olivia Rottman and Mechan Shermer.

The deal is funded with a 20-year loan of $584,375 from First National.

The 0.34-acre Midtown Center development was assembled in two deals with Maxton Enterprises LLC, led by Stephen Maxwell, $490,000 in September 2021; and in Rebecca Sullivan, $17,500 in January 2022.

The 0.42-acre Townhouse development was bought for $285,000 in November 2009 from P.E. Rice Family LLC, led by Lou Graham.

Heavy Purchase

A 6,200-SF service-garage in North Little Rock changed hands in a $682,000 transaction.

Clifton Warehouse Leasing LLC, led by Norman Clifton, acquired the 5007 E. Broadway project from Samson Heavy Hauling Co., led by Larry Ezell. 

The 5-acre property was purchased for $70,000 in April 1987 from Doretta Stephens Bright, Sam Stephens and Jennifer Stephens Baxley.

Office Transaction

A 7,500-SF office building in Little Rock sold for $400,000.

Rock Capital Fund LLC, led by Vincent Renda, bought Cantrell View Plaza at 1900 N. Bryant St. The seller is Haybar Properties LLC, led by Bryan Hosto.

The deal is backed with a five-year loan of $438,175 from Arkansas Federal Credit Union of Little Rock.

The 0.34-acre development was acquired for $300,000 in November 2016 from PDC LLC, led by Gene Pfeifer.

Vet Building

A 2,918-SF veterinarian clinic in Little Rock drew a $385,000 transaction.

Otter Creek Animal Hospital, led by John Miller, sold its 1 Otter Creek Court project to Betts Real Estate Enterprises Inc., led by Craig Betts.

The deal is financed with a five-year loan of $265,000 from First Security Bank.

The 0.49-acre site was bought for $55,000 in March 1998 from Otter Creek Land Co., led by Tommy Hodges.

Watershed Acreage

About 45.4 acres near the Little Italy community in west Pulaski County is under new ownership after a $215,000 deal.

Central Arkansas Water acquired the land located mostly on the north side of Hundley Road, a mile west of Highway 300. The seller is Faulkner Meadows LLC, led by John Aclin.

The property along Reece Creek was purchased in July 1991 as part of a $60,000 deal with Little Italy Co., led by Eugene Mazzanti.

WLR Site

An 0.84-acre parcel in west Little Rock rang up a $155,000 sale.

Systems Contracting Inc., led by Lee Morgan, bought the land near the southeast corner of Huron Lane and Green Mountain Drive. The seller is Signal Media Of Arkansas Inc., led by Terri Mahan. 

Signal Media acquired the land in May 2007 as part of a $540,000 deal with Tynez Inc., led by Nezih Erkman.

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