Woodmont Mabelvale LLC, a New York limited liability company, paid $2.2 million for the 38,000-square-foot home of B&B Solutions, a Deluxe company, last month.
Woodmont bought the building and the 2.7-acre site where it sits in the Otter Creek Industrial Park from BNBS Properties LLC.
Jerry Spears, president of BNBS Properties, sold B&B Solutions to Deluxe Corp. in August last year. B&B Solutions, also known as Bank & Business Solutions, does commercial printing, direct mail and graphic arts, among other things, according to its website.
It was the second time Spears sold the company, he said. He sold it in 1998 when it had about $25 million in sales. But the buyer went into bankruptcy and Spears bought the company back, he said.
The business grew back to about $25 million in sales with about 36 salespeople before it sold last year, Spears said.
"I'm 75 so it's time for me to get out of it," Spears said.
Woodmont financed the purchase with a $2 million mortgage with Merchants & Planters Bank of Newport. The mortgage matures in 2022.
The building, put up in 1994, and property were last appraised at $1.8 million. The building last sold in 2008 for $1.8 million.
About 70 percent of the building is a storage warehouse, according to Pulaski County records.
Tice Patrick Brown, the incorporator of Woodmont Mabelvale, lives in New York but is originally from Batesville, Spears said.
BOWMAN PROPERTY
LL Ark Properties, an affiliate of a Minnesota firm that bought two Steve Landers auto dealerships in Little Rock in 2014, paid $1.8 million for property on Bowman Plaza Drive.
The property consists of almost 3.5 acres and was bought in June but wasn't filed at the Pulaski County Courthouse until last month.
The seller was Colonel Glenn Development Co., led by Robert Vogel, who owns a Little Rock real estate business. The buyer, LL Ark Properties, is based in St. Louis Park, Minn.
Luther Automotive Group, led by David Luther, bought Steve Landers Toyota and Steve Landers Chrysler Dodge Jeep Ram in 2014.
CHURCH MOVES
Everlasting Life Worship Center bought a 5,100-square-foot church and 4.4 acres in Jacksonville last month from Light of the World, Church of the Living God International Inc.
Everlasting Life Worship Center paid $400,000 for the building at 10027 Arkansas 161 South in Jacksonville.
Efforts to reach Madelyn Phillips, an officer with Everlasting Life Worship Center, and Rodney Phillips, an officer with Light of the World, Church of the Living God International, were unsuccessful.
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