Liquid Texas, a limited liability company based in Bee Cave, Texas, invested $4.1 million last month to buy property occupied by three retail stores at 5450 Landers Road in Sherwood.
Bee Cave is a small community near Austin, Texas.
The retail center includes a Tractor Supply Co., a Mardel Christian bookstore and an Overstock Furniture and Mattress store. The property covers almost 124,000 square feet, 12.5 acres and was developed in 1986.
The property, originally a Walmart store when it opened in 1986, appraised for $6.8 million this year. It last was sold for $7.2 million in 2014.
Gander Mountain was the primary tenant in the center until the outdoor store filed for Chapter 11 bankruptcy last month. Overstock Furniture and Mattress now operates out of the former Gander Mountain location.
Liquid Texas borrowed $3.1 million from Equity Secured Investments of Austin to help finance the purchase. Mark Mueller, managing member of Liquid Texas, signed the mortgage.
Attempts to contact Mueller were unsuccessful.
The seller was BRE DDR BR Sherwood AR LLC. In 2014, Mark Bratt organized the company based in Beachwood, Ohio.
JACKSONVILLE APARTMENTS
DJJS Thaddeus Properties LLC bought the 20-unit Foxcroft Apartments in Jacksonville last month for $1.3 million.
The apartments, which include about 2.2 acres, were appraised at $850,000 this year. The two-story complex, which consists of five buildings, was built in 2002.
Daniel Gray is manager and the registered agent for DJJS Thaddeus Properties LLC.
The seller was Bradley H. Medlock Limited Partnership.
DJJS Thaddeus Properties LLC borrowed $1 million from First Arkansas Bank & Trust of Jacksonville to help finance the acquisition. The mortgage matures in 2023.
EASY STREET
Easy Street Properties LLC paid $500,000 last month for at least four rental properties, including two in North Little Rock and one each in Jacksonville and Little Rock.
The houses are on Ruth Ann Drive in Jacksonville, Heather Street in Little Rock, and Graham Street and West 33rd in North Little Rock.
Easy Street Properties borrowed $450,000 from Batesville-based First Community Bank for the cited houses plus eight more tracts in Cabot. The mortgage matures in 2021.
The eight tracts in Cabot include addresses on North Jackson Street, South Jackson Street, North Monroe, Moore Street, Meadowlark Street, Morgan Street, Willie Ray Drive and Elm Street.
Derek Wilfong of Cabot was listed as the registered agent and manager of Easy Street Properties, which was incorporated in 2010.
The seller was A P Rentals LLC.
Efforts to contact Wilfong did not succeed.
2 NLR PROPERTIES SOLD
In two separate transactions last month, Kim Properties LLC bought the buildings housing Hum's Hardware & Rental and an auto conversion business, both in North Little Rock.
Kim Properties paid $400,000 for the building for Hum's Hardware & Rental at 4210 E. Broadway . Kim Properties also paid $385,000 for an Auto Conversion USA space at 4119 Richards Road in North Little Rock. Built in 1999, it covers almost 11,000 square feet.
Grace Kim, Young K. Kim and Ki Suk Kim were listed as organizers of Kim Properties, a Maumelle firm that was incorporated in 2011. Grace Young Chae was listed as manager.
Hum's Hardware & Furniture Inc. sold the Hum's Hardware & Rental building.
The Hum's property was appraised for $463,000 this year.
Bruce Hum is president of Hum's Hardware.
The Auto Conversion property was appraised at almost $440,000 in 2017.
Bradley Blakeway is managing member of Jacksonville Double R LLC, which sold the auto conversion space to Kim Properties.
SundayMonday Business on 05/27/2018