REAL ESTATE TRANSACTIONS: Upscale selling core with new …
February 11, 2018 - storage organizer
Modern SW, a singular guilt association in North Little Rock, paid $2.8 million final month for a Storage World storage units in Little Rock.
The seller was Storage World Limited Partnership.
The storage units, during 8500 Cunningham Lake Road, nearby West Markham Street and John Barrow Road, were final appraised during $2.6 million. The 675 storage units cover about 3.5 acres.
Storage World was built in 1985.
William Keith Richardson is a organizer of Modern SW.
Modern SW financed a squeeze with a $2.4 million debt with First Security Bank that matures in 2023.
NEW CHENAL SHOPS
The Shoppes during Chenal LLC recently invested $2.5 million for about 5 acres of underdeveloped land on Chenal Parkway during Arkansas Systems Drive.
John Rees, owners and boss of Rees Commercial in Little Rock, is a manager of Shoppes during Chenal.
The seller was a partnership, including John Flake, Karen Flake, Hank Kelley, Stephanie Kelley, ASI Holdings, Hendren Family Limited Partnership, David Payne, Eugene Jones, Jun Jones, James Hendren and Ken Starnes II Family Trust.
Shoppes during Chenal borrowed $6.6 million from First Community Bank of Batesville to assistance financial a project, according to annals with a Pulaski County circuit clerk’s office. Included in that is $2.5 million being modernized to compensate a squeeze cost for a property. The debt matures in 2022.
The selling core will be upscale, with a high-quality brick-and-stone exterior, Rees said.
The selling core will have dual outparcels of about 6,000 block feet any concomitant a 22,700-square-foot building, Rees said. The outparcels are designed for restaurants.
“We’re articulate to several inhabitant restaurants, though we can’t divulge them right now,” Rees said.
He wants restaurants that aren’t now in Little Rock, Rees said.
“We consider a marketplace doesn’t have adequate restaurants in that finish of town,” Rees said.
He is articulate with several retailers and banks as tenants in a vast building, Rees said. There also could be restaurants on one or both ends of that building, he said.
Rees deliberate selling another parcel along Chenal Parkway from Deltic Timber Corp.
“Because of a visibility, we suspicion this skill gave us by distant a best skill in a area,” Rees said. “Once we get past Rahling Road, there’s not a whole lot of property, generally for retail. You’ve got a prolonged approach to go before we get to Walmart.”
The Shoppes during Chenal is reduction than a mile from a Promenade during Chenal selling center.
If all falls into place, Rees could mangle belligerent on a growth in April.
The designer for a plan is Tim Yelvington of Roark Perkins Perry Yelvington Architects in Little Rock, Rees said.
Other projects Rees grown embody Chenal Curve Shopping Center during 16900 Chenal Parkway, Whole Foods on Bowman Road, Pinnacle Creek Shopping Center during 14810 Cantrell Road and Pinnacle Station Shopping Center during 14524 Cantrell Road.
Bradford-Ft. Smith LLC of West Plains, Mo., paid $2.3 million final month to buy a building before assigned by AR Dentistry Braces during 401 S. Bowman Road in Little Rock.
The 6,400-square-foot building was final sole for $1.1 million in 2015. Built in 1997, a building was final appraised during $1.3 million.
Dr. Mark Dake, a dentist, is manager of Bradford-Ft. Smith.
In June, Rock Dental Brands of Little Rock bought AR Dentistry Braces and a 19 locations from Dr. Benjamin Burris and Dr. Justin Bethel, pronounced Jake Sligh, arch selling officer for Rock Dental.
Dake is authority and an owners of Rock Dental Brands, Sligh said. Rock Dental Brands operates some-more than 70 dental practices in Arkansas and Missouri, he said.
A dental hospital that was before on Rodney Parham Road, Leap Kids Pediatric Dental, changed to a Bowman location, Sligh said.
Bradford-Ft. Smith borrowed $1.8 million from Springfield, Mo., First Community Bank to assistance financial a acquisition. The debt matures in 2037.
The Pointe North Hills LLC in North Little Rock invested $700,000 to buy roughly 15 underdeveloped acres on North Hills Boulevard in North Little Rock final month.
The seller was Richardson Properties LLC.
Danielle Litaker-Nall is a incorporator of The Pointe North Hills LLC. W. Keith Richardson is boss of Richardson Properties.
Both a Pointe North Hills and Richardson Properties have offices during 9800 Maumelle Blvd. in North Little Rock.
Richardson did not lapse a call seeking comment.
MFD Wallace Holdings LLC of Maumelle paid $600,000 for Lewis Family Dentistry in Maumelle final month.
Dr. Dustin Guy Wallace, a dentist and boss of MFD Wallace Holdings, bought a dental office, now famous as Maumelle Family Dentistry. It is during 1701 Club Manor Drive.
Wallace, who grew adult nearby Star City, took a circuitous track to apropos a dentist. He graduated from a University of Arkansas, Fayetteville with a song degree. After graduation, he taught song during McGehee for a year.
In that one year, he satisfied training wasn’t for him, Wallace said.
So he returned to college during a University of Arkansas during Monticello for dual years and afterwards went to dental propagandize during Memphis for 4 years.
He afterwards worked in dentistry treating children during offices in Pine Bluff, Little Rock and Fort Smith.
Wallace borrowed $615,000 from Live Oak Banking Co. of Wilmington, N.C., to financial a squeeze of Lewis Family Dentistry. The loan matures in 2043.
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