REAL ESTATE TRANSACTIONS

Rock Town Distillery buys building on Little Rock's Main Street for $2M; west Little Rock land sells for $1.2M

Rock Town Distillery Inc. paid $2 million last month for the building at 1201 S. Main St. in Little Rock.
Rock Town Distillery Inc. paid $2 million last month for the building at 1201 S. Main St. in Little Rock.

Rock Town Distillery Inc. invested $2 million to buy the old Jungkind Photographic building at 1201 Main St. in Little Rock last month.

The space, on a half-block lot, is 25,000 square feet, about 10,000 square feet more than Rock Town's location on East Sixth Street. That includes about 9,500 square feet of office space, 9,500 square feet of warehouse space and 6,000 square feet of light manufacturing space.

Phil Brandon, president, who started the business about eight years ago, was interested in the property as far back as November, when he was interviewed by the Arkansas Democrat-Gazette. "It's perfect for our needs and a great location," Brandon said. "And it is a lot bigger than what we have now."

The main building was built in 1901, according to Pulaski County records. The seller was GSJ Properties LLC, a limited liability company that bought the space in 2001 for almost $900,000. The property was appraised at $1.1 million this year.

Rock Town Distillery took out a $1.7 million mortgage with First State Bank of Lonoke. The loan matures in 2023.

WINROCK PURCHASE

Winrock Farms Inc. of Morrilton paid $1.2 million last month for almost 4.5 acres of undeveloped property bounded by David O. Dodd Road and Lawson Road in west Little Rock. The land, near J.A. Fair High School, is at 12621 Lawson Road.

The property consists of lots 4 through 8 of The Village at Colonel Glenn. The seller was Riverside Properties, which bought the land for $950,000 a year ago. The property was appraised this year for about $950,000.

Riverside Properties is affiliated with Winrock Farms. Lisenne Rockefeller is president of the buyer, Winrock Farms, and managing member of the seller, Riverside Properties.

A spokesman for Winrock Farms said the firm has no comment on the transaction.

DOLLAR GENERAL

Tri-B Realty inc. paid $1.1 million for a Dollar General building on Lawson Road last month. The 9,000 square foot Dollar General, including about 1.5 acres, is at 12626 Lawson Road and was built in 2012.

The property was appraised at about $740,000 this year. John Billingsley is president of Tri-B Realty of North Little Rock and Phyllis Billingsley is vice president.

The seller was Lanspring Limited Partnership, a Nevada business. Steven Springer is general partner of Lanspring.

Lanspring paid $975,000 in 2012 for the Dollar General location.

MINI STORAGE

AAA Mini Storage LLC, a limited liability company, sold a 326 unit storage warehouse to Saver Self Storage AR LLC for $970,000 last month. The storage units are at 3400 Industrial Center Drive in North Little Rock. The storage facility, on almost three acres, was built in 1988.

Saver Self Storage is led by Matt Smoot and Daniel Kimball, each as manager of the business. Saver Self Storage of North Salt Lake, Utah, in February assumed a $1.1 million mortgage that originally was taken out by AAA Mini Storage in 2007 and amended in 2009. The lender was PNC Bank of Pittsburgh.

The original borrower was Joe Clay, manager of AAA Mini Storage. Clay paid $1.4 million for the mini storage in 2005.

FLEA MARKET

Tisdale Properties and Development LLC of Little Rock bought two properties with a total of about 1.5 acres on Kanis Road from Bryon House III last month.

Tisdale Properties paid a total of $875,000 for 4 Way Cafe at 27024 Kanis Road and Ferndale Fleas N Tiques, a flea market at 27020 Kanis Road. Tracy Tisdale is managing member and Terre Tisdale is a member of Tisdale Properties & Development.

Tisdale Properties paid $575,000 for the cafe, which was built in 1994 and has more than 1,800 square feet. The property appraised for almost $260,000 this year. House paid $260,000 for the cafe in 2006. Tisdale Properties borrowed $575,000 from House for a mortgage on the cafe. The mortgage matures in 2023.

Tisdale Properties paid $300,000 for the flea market, which was built in 1975 and has almost 6,200 square feet. The property appraised at almost $285,000 last year. Tisdale Properties borrowed $240,000 from Bank of the Ozarks for a mortgage on the flea market. The loan matures in 2023.

JOINT CLUTCH & GEAR

Haybar Properties LLC sold an automotive repair building in downtown Little Rock to Winchester 47 Investments LLC last month.

Winchester 47 paid $415,000 for the Joint Clutch & Gear building at 813 S. Spring St. in Little Rock. Built in 1947, the shop is almost 9,400 square feet, according to Pulaski County records. It was appraised at almost $280,000 last year.

Robert Smith is the incorporator of Winchester 47.

Bryan Hosto is a member of Haybar Properties.

SundayMonday Business on 04/08/2018

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