The WindRiver building in Little Rock's Riverdale neighborhood sold recently for $2.7 million.
The building is best known as being the home of Brave New Restaurant, which signed a seven-year lease with plans to remain in the building.
The buyer was 2300 Cottondale Building, an Arkansas limited liability company, which was represented by Realtors Kevin Huchingson, Brandon Rogers and Mason Lewis of Colliers International Arkansas.
Grant Cox incorporated 2300 Cottondale Building LLC in December. Cox, an attorney with the Quattlebaum, Grooms & Tull firm, was also the registered agent.
The building had three previous ownership interests -- WindRiver LLC, Cinde L. Bauer and Brave Inc.
Fletcher Hanson and Kris Goldman of Newmark Moses Tucker Partners represented WindRiver LLC and Cinde Bauer in the transaction.
WindRiver, at 2300 Cottondale Lane, is a 35,000-square-foot office building with views of the Arkansas River and downtown skyline. It is fully occupied with tenants including Mangan Holcomb Partners advertising agency, Team SI digital agency, Armor Bank, Paschall & Associates, Peregrine Wealth Strategies and others.
"With [WindRiver's] occupancy history and fantastic location just minutes from downtown, the Heights and midtown, it's a sound real estate investment and a win for both the buyer and the tenants," Rogers said.
The new owners plan to upgrade the building's common areas as well as install a new roof.
DAYS INN SOLD
Tirupati Balaji LLC paid $1.2 million last month for a Days Inn at 7200 Bicentennial Road in North Little Rock.
The two-story motel, known as Razorback Inn & Suites, has 40 rooms and was built in 2001. It is off Interstate 40 near Maumelle.
The seller was Gayatri Enterprises Inc. of Conway.
Tirupati Balaji, led by Nayankumar Patel, borrowed $1.1 million from Gayatri Enterprises to help finance the deal. Tejas Patel is president of Gayatri Enterprises.
Nayankumar Patel incorporated Tirupati Balaji in November. Dhaval K. Patel is the managing member of Tirupati Balaji.
The motel was appraised at $815,000 in 2017.
Cheski Properties LLC paid $980,000 for the 1.5-acre vacant Lot 6 on Chenal Parkway in the Village at Rahling Road subdivision last month.
Cheski Properties is located at 5700 North Hills Blvd. in North Little Rock.
Cheski Properties borrowed $1.6 million from Conway-based Centennial Bank to finance the purchase.
Mark and Paula Lukas are members of Cheski Properties. Mark Lukas incorporated Cheski Properties in October. Paula Lukas is the registered agent.
The property was appraised at $990,000 last year.
The sellers were PotlatchDeltic Real Estate LLC, Deltic Real Estate LLC and Deltic Timber Corp.
Trex Mpa & Co. of Carson, Calif., invested $939,000 for a 20-unit, two-story apartment complex in Jacksonville last month.
The apartments, built in 1976, are at 2213 Linda Lane.
Trex Mpa borrowed $502,000 from BancorpSouth, based in Tupelo, Miss. Glenn Wright, president of Trex Mpa, signed the mortgage.
The apartments, which are divided into three buildings, were appraised for $821,000 last year.
TCB Investments LLC, led by Brian Teeter, was the seller. Teeter signed the warranty deed.
Singh Store Inc. paid $620,000 last month for a 2,000-square-foot convenience store in Jacksonville.
The store, known as Macon Station, is at 2311A Arkansas 107. It was built in 1976 and appraised at almost $345,000 last year.
Plumerville-based Singh Store borrowed $496,000 from Centennial Bank of Conway.
Both Gurdev Dogra, president of Singh Store, and Narinder Kaur, the company's secretary treasurer, signed the mortgage. Andy Dogra is also an officer for the company.
The convenience store last sold for $400,000 in 2015.
Donnie and Mary Angela Miller of Conway were the sellers. Both signed the warranty deed.
SundayMonday Business on 01/13/2019