Saturday, December 15, 2007

East Little Rock Industrial Plot Sells for $1.1 Million

A 3.2-acre industrial property in east Little Rock tipped the scales at $1.1 million.

BJ & Co. LLC, led by Catherine Janosky, bought the 1805 E. 22nd St. project from Ben and Diane Davis. The deal is financed with a four-year loan of $1.5 million from First Security Bank of Searcy.

The property previously was linked with a November 2000 mortgage of $200,000 held by One National Bank & Trust of Little Rock.

The Davis family purchased the warehouse project for $650,000 in October 2003 from Fred and Mimi Selz and Sam Strauss Jr. and his wife, Shirley.

Kavanaugh Buy

The sale of the Kavanaugh Building in Little Rock's Hillcrest area rang up a $925,000 transaction.

AD Properties LLC, led by John Davis III and his wife, Jessica, acquired the 2821 Kavanaugh Blvd. project. The seller is Hillcrest Properties Inc., led by Kelley D. Johnson.

The deal is backed with a 25-year loan of $600,000 from Bank of America in Charlotte, N.C. The 11,800-SF building previously was tied to an August 2003 mortgage of $475,000 held by Delta Trust & Bank of Little Rock.

Hillcrest Properties bought the 0.12-acre development for $690,000 in November 1999 from Elvin and Cheryl Shuffield (37.71 percent), Harold and Judith Tenenbaum (32.66 percent) and H.R. and L.J. Dawdy Interest Ltd., led by Helen Sneary, (29.63 percent).

Clinical Purchase

A pair of foot clinic properties in Little Rock changed hands in a $928,333 deal.

Burkhalter Capital Development LLC, led by John Burkhalter, purchased the Arkansas Foot Clinic at 1417 W. Sixth St. and the Geyer Springs Foot Clinic at 5912 Windamere Drive.

The seller is Gold Family Rental Properties LLC, led by Allan and Laura Gold. The deal is funded with a one-year loan of $656,250 from Little Rock's Bank of the Ozarks.

The half-acre property near the Capitol was bought for $125,000 in May 1974 from John and Frances Smith.

The 0.2-acre Windamere property was acquired for $85,000 in December 1982 from Elizabeth Shrader.

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source: arkansasbusiness.com

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