Philadelphia-based First Neck University Avenue LLC paid $8.3 million in December for a Little Rock self storage facility with 574 units.
The Too Much Stuff Self Storage warehouse is at 2010 S. University Ave. It was built in 2002 and consists of five buildings on 6.6 acres.
First Neck borrowed $6 million from Wells Fargo to help finance the purchase.
Jacob Ramage incorporated First Neck University Avenue in November. Ramage is also manager of SSCP Management LLC, First Neck's managing member.
Too Much Stuff appraised for $3.4 million last year.
Marc Yelenich is an authorized member of Northgate Mini-Storage, which sold the storage facility to First Neck.
Foxden Enterprises LLC invested $3.7 million to buy the Helping Hand Children's Center in the Northshore Business Park in North Little Rock last month.
Foxden is an affiliate of Pediatrics Plus, which provides specialized pediatric healthcare for its clients, including physical therapy, occupational therapy, a developmental preschool and services for autism, according to its website.
From providing home health therapy for about a dozen families 16 years ago, Pediatrics Plus now works with 2,500 children with special needs.
Pediatrics Plus also acquired Helping Hand's business, but the terms of the business deal were not disclosed, said Todd Denton, co-owner of Pediatrics Plus.
Pediatrics Plus is a similar business to Helping Hand, Denton said.
The owners of Helping Hand contacted Pediatrics Plus about a year ago, saying they were interested in retiring, Denton said.
"It was just a good fit for us," Denton said.
Renovations on the building will start soon and should take about six months, Denton said. The building will remain open as renovations continue.
The new facility will be the sixth in Arkansas for Pediatrics Plus, which also has locations in Arkadelphia, Conway, Little Rock, Russellville and Sherwood. It also has a location in Frisco, Tex.
"When making the decision to retire after 30 years, it was very important to us to find a provider who could continue the Helping Hand legacy and build on our efforts," Helping Hand owners Johnny and Julia Washburn said, according to the Pediatrics Plus website. "We are confident Pediatrics Plus will be a great fit and will continue to provide quality services to the children."
The Helping Hand center at 4901 Northshore Drive in North Little Rock was built in 2000 and has almost 20,000 square feet on an eight acre lot.
Foxden Enterprises, based in Conway, borrowed $4.2 million from Jacksonville-based First Arkansas Bank & Trust. Todd Denton incorporated Foxden in 2003.
Helping Hand Properties LLC was the seller. John Washburn also is manager of Helping Hand Properties.
The owners of the Ten Three Ten Building in west Little Rock sold it last month to 10-3-10 LLC.
The new owner bought the three-story, 53,000 square foot medical office building at 10310 W. Markham St. for $3.6 million. It was built in 1986.
The building is on a three-acre lot. It appraised for $3.7 million last year.
A $2.7 million loan from Iberiabank of Lafayette, La., helped finance the acquisition. The mortgage matures in 2022.
Peter Hornibrook, managing member of 10-3-10 LLC, signed the mortgage. Lee Stephens incorporated 10-3-10 in August.
The limited liability corporation 10200 Rodney Parham bought the Colony West Conoco service station and convenience store for $1.7 million in December.
The station, built in 1968 and located at 10200 Rodney Parham Road, has 4,800 square feet. It appraised for $690,000 last year.
Bank OZK loaned 10200 Rodney Parham $2.6 million to help finance the transaction. The mortgage expires in 2023.
Edward Bailey is managing member of 10200 Rodney Parham.
Jared Coleman incorporated 10200 Rodney Parham in November. Bluefin Development LLC is the manager of 10200 Rodney Parham.
Keltner Marketing Corp. was the seller. Ronald Keltner, president of Keltner Marketing, signed the mortgage.
PAINT STORE SOLD
Pachyderm Properties LLC, of Bloomfield Hills, Mich., paid $974,000 in December for a Sherwin-Williams retail store in Little Rock.
The 5,000 square foot building is at 724 Towne Oaks Drive and was built in 1987. The building appraised at $333,000 in 2017. The store last sold for $140,000 in 1996.
Stephen Perisutti, vice president, deputy general counsel and assistant secretary of The Sherwin-Williams Co., signed the deed. Sherwin-Williams is based in Cleveland.
Danielle Spehar of Pachyderm Properties also signed the deed.
Katherine Hammers incorporated Pachyderm Properties in December.
SundayMonday Business on 02/03/2019
Print Headline: REAL ESTATE TRANSACTIONS: Philadelphia firm buys 574-unit self storage in Little Rock for $8.3 million