Xcited Transaction Tallies $16.1 Million (Real Deals)

A 214,253-SF retail project in Little Rock weighed in at $16.1 million.

Xcited Riverdale LLC, a group of Arkansas partners formed by T.J. Lefler of Lefler Capital in Fayetteville, bought the Riverdale Shopping Center at 2500-2610 Cantrell Road.

The seller is Kappa Realty LLC, led by Chris Robertson Sr. The deal is funded with a 10-year loan of $16.7 million from Encore Bank of Little Rock.

Kappa Realty acquired the formerly leased 17.6-acre site for $8.3 million in April 2019 from the Roman Catholic Diocese of Little Rock. The improvements were purchased for $4.2 million in November 1993 from New York Life Insurance Co.

Office-Warehouse Sale I

A 37,743-SF office-warehouse in North Little Rock tipped the scales at $2.3 million.

400 Phillips Road LLC, led by Ryan Gibson, and Horizon Ventures Inc., led by Zach Holderfield, purchased the 400 Phillips Road project in a 55/45 ownership split.

The seller is KMS Car WHS LLC, led by Rob Kimbel. The deal is financed with a 10-year loan of $1.9 million from Citizens Bank of Batesville.

KMS bought the 3.76-acre Consolidated Pipe & Supply Co. development from #40 Real Estate Partnership LLC, an affiliate of Ameripipe Supply of Dallas.

Take 5 Purchase

An oil change project in the University District of Little Rock rang up a $1.43 million sale.

The Everett Living Trust of San Diego acquired the Take 5 Oil Change at 6207 Col. Glenn Road in Little Rock from Driven Brands Inc. of Charlotte, North Carolina.

The deal is backed with a 10-year loan of $717,500 from TruStone Financial Credit Union of Plymouth, Minnesota.

The 0.37-acre site was purchased for $260,000 in November 2021 from Xiang and Jin Lin.

Landmark Project

A 16,750-SF former Fred’s store in south Pulaski County’s Landmark community changed hands in a $1.33 million deal.

Exchangeright Net-Leased Portfolio 56 DST of Pasadena, California, bought the 15700 Arch Street Pike project from Colbcar LLC of Brookhaven, Mississippi.

The 3.3-acre development is helping secure a $59 million funding agreement with Morgan Stanley Bank of Salt Lake City.

The property was acquired for $550,000 in 2021 from Summit Properties Landmark LLC, an affiliate of Atlantic Retail Investors of Jupiter, Florida.

Office-Warehouse Sale II

A 19,419-SF office-warehouse in North Little Rock sold for $1.15 million.

Stuart and Suzanne Mackey purchased the 7301 Industry Drive project and an adjoining 4.7-acre tract from House Properties Inc., led by Barbara Mae House.

The deal is financed with a 25-year loan of $539,174 from Relyance Bank of White Hall.

House Properties bought the 4.01-acre development and land for $825,000 in May 2002 from the bankruptcy estate of Beverage Systems of America Inc.

Storage Land

A storage development in west Little Rock is in the works after a $1 million land deal.

Brookwood-WLR II LLC, an affiliate of Brookwood Properties in Baton Rouge, acquired the 3.1-acre site near the northwest corner of Wellington Hills Road and Chenal Parkway. The seller is Chi Hotel Group LLC, led by Jacob and Jasen Chi.

The deal is backed with a 10-year loan of $9.3 million from Morgan Stanley Private Bank of Purchase, New York.

Chi Hotel purchased the land in April 2018 for $675,000 from Chenal Commercial Partnership, led by Jim Hathaway.

Goodwill Asset

A 48,764-SF warehouse in downtown Little Rock drew a $900,000 transaction.

Haybar Properties LLC, led by Bryan Hosto, bought the 1110 W. Seventh St. project. The seller is Goodwill Industries of Arkansas Inc., led by Brian Marsh.

The deal is funded with a 30-year loan of $500,000 from First State Bank of Lonoke.

Goodwill assembled the 1.41-acre property in deals with Joseph and Marilyn Brown, $175,000 in June 1972; and Margaret Erhart, Mary Sue Rogers and Logue and Carol Omohundro, $75,000 in October 1974.

Office Transaction

A 6,099-SF office building in west Little Rock is under new ownership after a $760,000 deal.

Gittens Holdings LLC, led by Brian Gittens, purchased the 14 Office Park Drive project. The seller is Scott Ventures LLC, led by Thomas Scott III.

The deal is financed with a four-year loan of $608,000 from Simmons Bank of Pine Bluff.

Scott Ventures assembled the 0.66-acre development in deals with Aaron and Sandra Lubin, $525,000 in July 2015; and Alysee Property Management LLC, led by Alvin Rogers, $27,112 in April 2017.

Cattle Property

A 113.85-acre spread in north Pulaski County rang up a $525,000 sale.

Nelson Land & Cattle LLC, led by Joshua and Brittany Nelson, acquired the property at Fortson and Ridge Creek Rock roads about 7.5 miles northwest of Jacksonville. The seller is Sorrels Cattle Inc., led by Michael Sorrels.

The deal is backed with a 25-year loan of $525,000 from the Farm Service Agency of Washington, D.C.

Sorrels Cattle purchased the property for $401,000 in July 2014 from the Copeland Living Trust, led by Johnny and Cristi Copeland.

Golden Acquisition

A 3,840-SF retail project in Little Rock changed hands in a $460,000 deal.

Ara Cho LLC, led by Han Cho, bought the Golden Beauty Supplies project at 2901 W. 12th St. The seller is Jeon & Yoon Enterprise Inc., led by Kyungmi Yoon.

The deal is funded with a five-year loan of $391,000 from First Community Bank of Batesville.

The 0.56-acre development was acquired for $200,000 in June 2021 from Golden Beauty Supplies Inc., led by Jim Im.

Amboy Buy

The 41,230-SF former Amboy Elementary School in North Little Rock sold for $360,000.

Turchi Inc., led by Rodney Turchi, purchased the 2400 W. 58th St. project from Whitman LLC, led by Ryan Meyer.

The deal is financed with a 10-year loan of $348,000 from Focus Management Group LLC of Little Rock.

Whitman bought the 5.64-acre property for $175,000 in December 2016 from the North Little Rock School District.

65th Street Deal

A 14,900-SF building in Little Rock drew a $275,000 transaction. Enmar Properties Inc., led by Bertha Guerra, acquired the 5100 W. 65th St. project.

The seller is Pine Plaza Investments LLC, led by Rick Ferguson. The deal is backed with a five-year loan of $233,750 from Bank of Little Rock.

Pine Plaza purchased the 1.17-acre development for $275,000 in September 2021 from Nicholas and Susan Brown.

Forest Heights Place

A 4,156-SF home in the Heights area of Little Rock weighed in at $1.35 million.

John and Jamie Bizzell bought the house from James and Jill Gibson.

The deal is funded with a 30-year loan of $1 million from Regions Bank of Birmingham, Alabama.

The Gibsons acquired the residence for $1.1 million in October 2020 from Russell and Sarah Brantley.

Sologne Circle

A 5,939-SF home in west Little Rock’s Sologne Circle neighborhood tipped the scales at $1.14 million.

Philip and Dana McKellar purchased the house from Girner Enterprises LLC, led by John Girner, which provided a one-year mortgage of $1 million.

The residence was acquired for $1.1 million in August 2008 from the Bank of England.