LL Ark Properties LLC, an affiliate of a Minneapolis firm, paid nearly $4.1 million for about 12.5 acres on Colonel Glenn Plaza Loop last month.
The property is the location of Steve Landers Chrysler Dodge Jeep Ram, a dealership that Landers sold to Luther Automotive Group of Minneapolis in 2014, along with Steve Landers Toyota.
When the deal was announced in 2014, Luther Automotive and Steve Landers and his son Scott formed LL Ark Holding LLC as the ownership entity for the Landers dealerships.
The seller in last month's transaction was Glenn Ridge Crossings II LLC with Steven Landers Sr. as manager. The $4.1 million sale was for the land and the improvements on the property.
Messages seeking more information on the transaction were left with the Landers Chrysler dealership and at the Luther group in Minneapolis but were not returned.
USED-CAR DEALER
Matt Enderlin, managing partner with J.D. Byrider Auto Sales in Sherwood, bought out his Texas business partners in a $3.2 million deal last month.
Enderlin is now owner of the dealership, which has been in Sherwood since 2011, said Brooke Rex, general manager of the business.
Enderlin bought the dealership at 6055 Landers Road through 6055 LLC, a limited liability company.
The dealership has a 16,000-square-foot building that includes on-site financing, a service department and a customer service center.
"Nothing changes for our customers," Rex said. "The only change was our owner purchased the other owners out."
The purchase was financed with a $2.7 million mortgage from Central Bank in Little Rock. The mortgage matures in 2037.
The seller was Enoch Enterprises of Arkansas, a Texas limited partnership. William Evans Jr. is the general partner of Enoch Enterprises.
J.D. Byrider, based in Carmel, Ind., has locations in about 35 states nationwide. It is a buy-here, pay-here used car business.
PETERBILT LOT BOUGHT
Paccar Machinery Corp. of Denton, Texas, last month bought the property of the Peterbilt dealership at 1 Peterbilt Drive in North Little Rock for $2.5 million.
The seller was PTC Little Rock LLC, a Mississippi limited liability company.
Three-fourths of the 27,500-square-foot building is a service repair garage and the remainder is a retail store. It was built in 1995.
The transaction includes all the buildings, structures, improvements and fixtures at the property.
Paccar is a publicly traded company that designs, manufactures and distributes commercial trucks worldwide.
Peterbilt also manufactures medium and heavy-duty trucks.
Paccar recently introduced a new 12-speed automatic transmission that Peterbilt has agreed to offer to its customers.
A message left at the North Little Rock Peterbilt dealership was not returned.
ACE GLASS MOVING
HK Value LLC and its manager, Henry Kelley, also chief executive officer of Flake and Kelley Commercial Real Estate in Little Rock, paid $1.5 million for the Ace Glass building at 405 Shall St. in Little Rock last month.
Bryan Hosto, a Little Rock attorney, is also a member of HK Value.
The structure, built in 1955, has about 31,500 square feet and is near the Clinton Presidential Center.
More than 90 percent of the building is used for storage and about 8 percent is an office. The deal also includes the land.
HK Value recently sold the Shepherd's Printing building at 603 W. Markham St., Kelley said.
"We're looking at two or three alternatives for how we might redevelop that property, and at the same time offering it up to potential users that might need 31,000 square feet in that area," Kelley said. "We're long-term owners, we like the location and we're working backwards from there."
Ace Glass, a residential and commercial glass firm, plans to move the shop by October and the office by the end of the year, said Courtney Little, president of the firm. He is moving into a state-of-the art building near the airport, Little said.
Ace Glass is best known for providing glass for large commercial projects, such as CARTI, the Robinson Center and 300 Third Tower, Little said.
HK Value financed the transaction with a $2.3 million line of credit with Simmons Bank. The appraised value was about $900,000.
The seller was Petra Enterprises LLC, led by Newton Little and Linda Little, Courtney Little's parents.
WAREHOUSE SOLD
Ben Davis Properties Management LLC paid $1.25 million last month for warehouse buildings and property at 2301 Bolton Road in Little Rock.
Ben Davis Properties has more than 1 million square feet of property rented and occupied, according to its website. The firm has been in business for more than 20 years.
Ben and Diane Davis financed the purchase with a $1.25 million loan with Central Bank of Little Rock.
HOUSES PURCHASED
iRemodel Properties LLC, a Texas limited liability company, bought 40 properties in North Little Rock for $800,000 last month.
iRemodel borrowed $890,000 from Jet Financing LLLC of Houston to finance the purchase. The mortgage covers 40 homes and tracts in North Little Rock's 72114, 72117 and 72118 zip codes.
iRemodel Properties is owned by David Morgan Bardwell, a real estate investor who owns properties in Oklahoma City and Houston, as well as the Little Rock area. Bardwell moved to the Little Rock area about 18 months ago from Houston.
The seller was Parmel Properties LLC, which owned the rental properties and was seeking to sell them, Bardwell said.
"Most of the properties were leased when I purchased them," Bardwell said.
"We want to be good stewards here," said Bardwell. "We're here to make a fair offer on properties."
Bardwell said he made deals on about 60 properties but only 40 sales have closed.
TRAMMEL GARDENS
ARG Little Rock LLC, a Fayetteville-based limited liability company, paid more than $520,000 last month for four lots on Ridgemist Lane in the Trammel Gardens subdivision of Sherwood.
The seller was Rausch Coleman Mid-Ark LLC of Fayetteville, the largest home builder in Arkansas, with homes in Northwest Arkansas, Sherwood, Cabot, Beebe, Bryant, Alexander and Conway. It has recently opened a branch in Jonesboro.
ARG financed the purchase with a $2.2 million mortgage with First National Bank of Fort Smith that matures in 2020.
David Frye is manager of ARG.
SHERWOOD PROPERTY
TDT-Sherwood LLC paid $425,000 last month for about 2.5 acres of undeveloped land near the Austin Lakes on the Bay addition of Sherwood.
The property is along Brockington Road in Sherwood.
The purchase was financed with a loan of $425,000 from First Arkansas Bank & Trust of Jacksonville.
The seller was The Cracker Box LLC.
SundayMonday Business on 09/03/2017