A limited liability company based in Charlotte, N.C., paid almost $11 million for the Coca-Cola Bottling Co.’s three buildings on 22 acres in Little Rock last month.
Included among the buildings purchased by CCBCC Operations LLC was a distribution warehouse with more than 190,000 square feet built in the 1960s, a 30,000-square-foot warehouse and a 4,000-square-foot service repair garage.
The seller was Coca-Cola Refreshments USA Inc.
The buildings and property are located at 7000 Interstate
30.
The property was last appraised at almost $11 million.
KANIS MEDICAL PLAZA
Kanis Medical LLC and Central Properties Inc. acquired the Arkansas Neurospine Center at 9101 Kanis Road for $7.5 million last month.
Dr. Richard Houk, a rheumatologist who has offices in the building, is managing member of Kanis Medical LLC. John Flake, chairman of Flake & Kelley Commercial, is president of Central Properties.
“The new ownership was interested in having a location near Baptist [Health Medical Center],” Flake said.
The seller was Arkansas Neurospine LLC, led by Dr. Alonzo Williams Sr.
Thomas Schmidt of Flake & Kelley Commercial represented the buyer and the seller.
The four-story, 49,300-square-foot building will be renamed Kanis Medical Plaza.
“Dr. Houk was originally looking at a lease in the building,” Flake said. “But Thomas was able to work with Dr. Williams to complete the purchase [by Houk and Flake].”
It took about six months of discussions before Houk decided to invest in the building, Flake said.
“John Flake approached me [about the building],” Houk said. “We got to know each other. It was just an easy, cooperative effort for the continuity of maintaining a quality place for patients to be able to come. That was my interest. I’ve not done anything like this before. I’m the rookie in this organization.”
The building sits on a 2.7-acre site, at Kanis Road and Physician Court. It was built in 2002. It was last appraised at $7.7 million.
Kanis Medical and Central Properties financed the purchase with a $6 million mortgage with Malvern National Bank. It matures in 2022.
HERTZ LOT SOLD
National Retail Properties LP, a limited partnership, last month bought the Hertz Equipment Rental property at 10800 Interstate 30 in Little Rock for $1.8 million.
Included in the transaction was a 9,600-square-foot warehouse showroom and service repair garage and 3.4 acres of land. The showroom and garage were built in 1979.
National Retail Properties is based in Orlando, Fla.
The seller was Bonita Springs, Fla.-based Herc Rentals Inc., formerly known as Hertz Equipment Rental Corp.
The property was last appraised at about $410,000.
FAULKNER CROSSING
ARG Little Rock LLC paid almost $352,000 for lots 352, 353 and 354 of Faulkner Crossing Phase 7, a subdivision in North Little Rock.
The seller was Rausch Coleman Mid-Ark LLC.
David Frye, an executive with Rausch Coleman, is also manager of ARG.
Danville-based Chambers Bank loaned ARG more than $728,000.
Fayetteville-based Rausch Coleman is the largest homebuilder in Arkansas, with projects in Northwest Arkansas, Sherwood, Cabot, Beebe, Bryant, Alexander, Conway and Jacksonville. It recently opened a branch in Jonesboro.
The firm starts about 400 houses a year.
Rausch Coleman has been in business for 60 years and has built more than 20,000 houses. It also builds houses in the Kansas City, Mo., area, Oklahoma City, Tulsa and in Texas.