Salt lakes real estate

Xcited Transaction Totals $16.1 Million (Actual Bids) | Arkansas Business News

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A 214,253 square foot retail project in Little Rock was worth $16.1 million.

Xcited Riverdale LLC, an Arkansas partner group formed by TJ Lefler of Lefler Capital in Fayetteville, has purchased the Riverdale Mall at 2500-2610 Cantrell Road.

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

Kappa Realty acquired the previously 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 square foot 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, run by Rob Kimbel. The deal is funded by a 10-year, $1.9 million loan from Citizens Bank of Batesville.

KMS has purchased the 3.76-acre Consolidated Pipe & Supply Co. development from #40 Real Estate Partnership LLC, a subsidiary of Ameripipe Supply of Dallas.

Take 5 purchases

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

The Everett Living Trust of San Diego has 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 by a 10-year, $717,500 loan 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.

Flagship project

A 16,750 square foot former Fred’s store in the landmark community of southern Pulaski County has changed hands in a $1.33 million deal.

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

The 3.3-acre development helps secure a $59 million financing deal with Morgan Stanley Bank of Salt Lake City.

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

Office-Warehouse Sale II

A 19,419 square foot office warehouse in North Little Rock has sold for $1.15 million.

Stuart and Suzanne Mackey purchased the 7301 Industry Drive project and adjoining 4.7 acres of land from House Properties Inc., run by Barbara Mae House.

The deal is funded by a 25-year, $539,174 loan from White Hall’s Relyance Bank.

House Properties purchased the 4.01-acre development and land for $825,000 in May 2002 from bankrupt 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, a subsidiary of Brookwood Properties in Baton Rouge, has 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 by a 10-year, $9.3 million loan from Morgan Stanley Private Bank of Purchase, New York.

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

goodwill asset

A 48,764 square foot warehouse in downtown Little Rock attracted a $900,000 transaction.

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

The deal is funded by a 30-year, $500,000 loan 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 square foot 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 funded by a four-year, $608,000 loan from Simmons Bank of Pine Bluff.

Scott Ventures assembled the 0.66 acre development under 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.

Bovine property

A 113.85-acre tract in northern Pulaski County recorded a sale of $525,000.

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

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

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

gold acquisition

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

Ara Cho LLC, led by Han Cho, purchased 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 by a five-year, $391,000 loan 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 square foot 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 funded by a 10-year, $348,000 loan from Focus Management Group LLC of Little Rock.

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

65th Street Offer

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

The seller is Pine Plaza Investments LLC, led by Rick Ferguson. The deal is backed by a five-year, $233,750 loan 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 Location

A 4,156 square foot home in the Heights neighborhood of Little Rock was worth $1.35 million.

John and Jamie Bizzell bought James and Jill Gibson’s house.

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

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

Circle of Sologne

A 5,939-square-foot home in the Sologne Circle neighborhood west of Little Rock tipped the scales at $1.14 million.

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

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

Mary Cashion

The author Mary Cashion