A 13,965-SF commercial building in west Little Rock changed hands in a $1.5 million sale.
Rainwater & Sexton Properties LLC, led by Michael Rainwater and Robert Sexton, bought the 801 Technology Drive project. The seller is Technology Drive Investments LLC, led by Rick Ferguson.
The deal is backed with 10-year loans of $2.01 million and $420,000 from First Security Bank of Searcy.
The 1.88-acre development previously was tied to an August 2005 mortgage of $1.76 million. Back then, Gene Cauley was part of the ownership picture of Technology Drive Investments.
The limited liability company purchased the property for $2.2 million more than eight years ago from Arvest Bank of Fayetteville.
Office Acquisition
A 6,575-SF office building in west Little Rock drew a $745,000 transaction.
Radius Real Estate Fund No. 2 Ltd., led by Michael Montgomery, acquired the 28 Rahling Road project. The sellers are Diner Properties LLC, led by Bradley Diner; Amick Properties LLC, led by Roger Amick; and R&J Properties LLC, led by Dr. Leigh Ann Bennett.
The deal is financed with a $450,000 loan from Central Bank of Little Rock.
The 0.57-acre development previously was linked with a December 2012 mortgage of $124,000, an August 2013 mortgage of $440,000 and a September mortgage of $116,000, all held by Simmons First National Bank of Pine Bluff.
The location was bought for $135,000 in November 2001 from Deltic Timber Corp. of El Dorado.
Dirt Only
Land beneath a south Little Rock convenience store rang up a $400,000 transaction.
Giant Oil Co. of Tupelo, Mississippi,purchased the 0.9-acre Dodge’s site at 5102 S. University Ave. from BG Montgomery LLC, led by Boyd G. Montgomery.
Montgomery became involved in the ownership in an April 1969 deal of unrecorded value.
The seller was Continental Motors Inc., led by R.G. Harrison.
Industrial Deal
A 3,960-SF industrial facility in southwest Little Rock sold for $200,000.
8117 Distribution Drive LLC of Memphis bought its namesake property from Transport International Pool Inc. of Norwalk, Connecticut.
The 5.22-acre property was purchased for $114,000 in May 1994 from Rockapar Corp. of Atlanta.
Condominium Sale
High-rise condo space in downtown Little Rock tipped the scales at $1.64 million.
Greg and Anna Hendrix acquired 3,844 SF on the 19th floor of the River Market Tower from its namesake limited liability company, led by Jimmy Moses and Rett Tucker.
The property helped secure a May 2007 mortgage of $47.6 million held by River Market Tower BDF III LLLP of Denver.
The 1.2-acre site on the east side of Rock Street between Third and Fourth streets was bought in October 2005 as part of a $5.08 million deal with the Arkansas Teacher Retirement System.
Estates Buy
A 19.3-acre residential parcel in west Pulaski County changed hands in a $773,000 deal.
Stewart Road Estates LLC, led by David Huckabee, Aaron Black and Robert Schmitt, purchased the land less than a half-mile south of Kanis Road and just east of Stewart Road from Larry and Elizabeth McCraw.
The deal is funded with a $455,000 loan from Centennial Bank of Conway.
The property was acquired for $162,000 in July 1991 from Radiology Consultants Profit Sharing Plan Trust, led by Joseph Gettys Jr.
PV Residence
A 4,352-SF home in west Little Rock’s Pleasant Valley neighborhood sold for $500,000. Matthew and Marian Humphries bought the house from Henry and Natalie Mahler.
The deal is financed with a $598,000 loan from Centennial Bank. The residence previously was tied to an October 2012 mortgage of $411,500 from First Financial Bank of El Dorado.
The Mahlers purchased the property for $385,000 in July 2005 from the Barbara Buckley Miles Trust. n
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