Market Plaza Sale Tops $20.3 Million (Real Deals) | Arkansas Business News.
A 170,385 SF retail center in North Little Rock brought in $20.35 million.
RCG-North Little Rock VII LLC, a subsidiary of RCG Ventures of Atlanta, acquired the Market Plaza shopping center at 4201 E. McCain Blvd. The seller is Market Plaza Ltd., managed by William Daniel Thomas III.
The transaction is funded with a five-year, $14.7 million loan from BankPlus of Belzoni, Mississippi.
Market Plaza acquired the 19.52-acre facility in December 1986 for $7 million from The Crestwood Co., led by James P. Matthews.
Acquisition of villas.
The 140-unit Villas on Cantrell apartment project in Little Rock weighed $12.1 million.
Summit 8101 Cantrell Apartments LLC, a subsidiary of Summit Real Estate Group of St. Louis, sold its namesake address to VA7 Villas on Cantrell LLC, a subsidiary of FPA Multifamily in Irvine, California.
The deal is supported by a three-year, $10.4 million loan from BOKF in Tulsa.
Summit 8101 acquired the 7.35-acre development for $7.8 million in May 2022 from Watergate Little Rock Apt Portfolio LLC, a subsidiary of Bell Partners of Greensboro, North Carolina.
Speedway sale.
A $4.95 million transaction was struck at a racetrack in southwest Little Rock.
Copart of Arkansas, a subsidiary of Copart Inc. of Dallas, purchased the I-30 Speedway at Interstate 30 12297 from Tracey Clay and Joe Clay Sr.
Joe Clay and his partners Ron and Odus Pack purchased the 66.03-acre property for $700,000 from Kenneth Clifton in July 1987.
Buy Foxcroft.
A 20-unit multifamily project in Jacksonville made a $2.02 million sale.
Davis Mid-South Properties LLC, owned by Jacquelyn and Steven Davis, acquired Foxcroft Apartments at 900 Madden Road. Seller is DJJS Thaddeus Properties LLC, managed by Daniel Gray.
The deal will be funded with a $1.6 million loan from the People’s Bank of Sheridan.
DJJS acquired the 2.19-acre development from Bradley H. Medlock Ltd for $1.2 million in April 2022.
buy lifesaver.
A 37,958 SF office building in Maumelle changed hands for $1.84 million.
Castle Investments LLC, led by Bruce Cook, purchased the Lifesavers Building at 600 Pine Forest Drive from Winners Plaza Inc., led by Jerry Poole.
The deal will be funded with a five-year, $1.5 million loan from Arkansas Federal Credit Union in Little Rock.
Poole has sold space in the building over the years, having purchased the 1.64-acre property in July 1993 for $419,750 from Resolution Trust Corp., receiver of Citizens Security Bank of Borger, Texas.
Poole rebuilt sole ownership in deals with Triple G Properties led by Ronald Gillert in March 2004, $70,000; Cynthia Bonds, $70,000 in January 2011; the estate of John Roddie Jr., $82,000 in May 2014; Dale Jones and Larry Sturdivant, $46,000 in June 2014; Bank of America in Charlotte, North Carolina, $55,900 in December 2014; the Brenda L. Throckmorton Revocable Trust, $52,308 in March 2022; Billy Morden, $225,000 in April 2022; Parvis and Maryam Eftekhari, $110,000 eight months ago.
Lynne Lane.
A 22-unit apartment property in North Little Rock is under new ownership following a $1.1 million transaction.
Lynn Lane LLC of San Diego sold its eponymous project at 4416-4418 Lynn Lane to Sam Emmerling.
The deal is backed by a five-year, $1.1 million loan from Arkansas Federal Credit Union.
Lynn Lane purchased the 2 acre development for $970,000 in August 2021 from Stone Crest Apartments LLC, managed by Ryan and Jeffrey Aclin.
Ferndale country.
A 6.95-acre property in western Pulaski County has sold for $750,000.
Tisdale Properties & Development LLC, owned by Tracy Tisdale, acquired the property at 2723 Ferndale Cutoff Road from Britt Smith. Smith bought the land from Loyd and Pamela Moler in December 1978 for $21,000.
Westrock Clinic.
A 3,372 SF veterinary project in west Little Rock resulted in a $615,000 transaction.
Woobank LLC, owned by Roby and Carrie Woobank, purchased Westrock Animal Clinic at 14104 Taylor Loop Road from Dr. LaVergne LLC, managed by René and Sonya LaVergne.
The deal will be funded with a five-year, $492,000 loan from the Citizens Bank of Batesville.
The LaVergnes purchased the 0.49 acre property in June 1999 for $25,000 from the Chester A. Phillips Revocable Trust.
Setu investment.
A 4,598 SF business project in Little Rock achieved a $340,000 sale.
Setu Investment LLC, led by Maunish Shah and Subhas Pandat, acquired the 1003 Martin Luther King Jr. Drive location from Shreeji Krupa Equity Group Ltd., led by Kunal Mody.
The deal will be funded with a three-year, $340,000 loan from First Community Bank. The limited partnership purchased the 0.35 acre lot for $150,000 in January 2011 from Smith Funeral Home Inc., run by Ruth Chandler.
jewelry surface.
About 80 acres in southern Pulaski County changed hands in a $300,000 deal.
CWR Farms LLC, managed by Charles Richardson, purchased the land half a mile southeast of the township of Hensley from the David & Betty Jewell Revocable Living Trust.
The Jewels collected the land in two deals with Jeanette Goheen, $42,000 in January 1991; and JA and Martha Wampler, $14,000 in February 1993.
Maumelle site.
A 9.06-acre industrial park in Maumelle changed hands in a $249,095 transaction.
Mechanics Lumber Co., led by Gene Pfeifer, bought the land on the west side of Murphy Drive just north of Carnahan Drive. Seller is MGY LLC, managed by Marc Yelenich.
The land was acquired in October 2007 in a $624,000 deal with Little Rock-based JG Construction Co. led by Julian Gilliam.
valley falls.
A 7,553 SF home in the Valley Falls Estates neighborhood of west Little Rock fetched $1.3 million.
Smith Family Revocable Trust, run by Carey and Andria Smith, bought the home from Joe D. White Jr. and his wife Kimberly.
The deal is supported by a $1.4 million, one-year loan from the Relyance Bank of White Hall.
The residence was purchased by Sunset Bay I LLC led by Rick Ferguson in December 2007 for $2.4 million.
Hayden Heights.
A 6,029 SF home in the Hayden Heights neighborhood of North Little Rock weighed $1.22 million.
Patricia and William James Jr. purchased the home from Medlock Management Co. LLC, run by Brad Medlock.
The transaction is funded with a $977,600 30-year loan from Simmons Bank of Pine Bluff.
Medlock Management acquired the site in October 2022 in a $180,620 deal with East Village LLC led by Davis Haas.
edge of forest.
Steven and Michelle Kordell purchased a 5,005 SF home in the Woodlands Edge neighborhood of west Little Rock for $1.29 million from Arbor Construction LLC, led by Michael Moran.
Arbor acquired the property in November 2022 for $164,000 from Rocket Properties LLC, owned by Lisenne Rockefeller.