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North Little Rock pizza restaurant bought for $3.2M

by David Smith | July 30, 2017 at 1:56 a.m. | Updated July 31, 2017 at 4:30 a.m.
The Hideaway Pizza on Warden Road in North Little Rock opened in October.

Hideaway Properties LLC of Tulsa bought a Hideaway Pizza on Warden Road in North Little Rock last month for $3.2 million.

The seller was Patmurphy Properties LLC, an Oklahoma company that paid $1.5 million for the property in December 2015.

The North Little Rock Hideaway Pizza opened in October, the chain's first location outside Oklahoma. It was the 17th location for the chain.

The company plans to open its next restaurant this year in Conway, according to its website.

The pizza restaurant chain started in 1957 in Stillwater, Okla.

Attempts to contact executives at Hideaway Pizza were unsuccessful.

Retirement center

Chenal Pines Retirement Community LLC bought 2.5 acres at Chenal Parkway and Rawling Road in Little Rock with plans to build a retirement center.

Chenal Pines, an affiliate of Resort Lifestyle Communities in Lincoln, Neb., paid $3.1 million last month for the land. Deltic Timber Corp. was the seller.

Resort Lifestyle Communities will build a three-story, 130-unit senior-citizen independent living center, said Bob Lewis, director of development.

Construction should begin in October or November and should be completed in early 2019, Lewis said. Amenities for residents include three meals a day, live-in facility managers, fulltime staffing, a medical alert system, concierge services, a shuttle bus, a 150-seat theater, library, billiards area, a fitness center, a communication center, maintenance and weekly housekeeping, Lewis said.

The center will include an on-site bank, pharmacy, gift shop, salon and barber, Lewis said.

The upscale apartments will be rented on a month-to-month basis, Lewis said.

The center will be the first in Arkansas for the company.

Resort Lifestyle Communities has senior-citizen living centers in more than 25 locations in Alabama, Arizona, Colorado, Florida, Georgia, Kansas, Kentucky, Maine, Missouri, Nebraska, New Mexico, New York, North Carolina, Ohio, South Carolina, Tennessee and Texas.

Hillcrest sale

BTC Rentals Two LLC paid $720,000 to buy a five-unit complex at 822 N. Spruce St. in Little Rock last month.

Built in 1939, the property was sold by Donna Barnett. It was last sold in 2013 for $350,000. It is in the Hillcrest neighborhood.

The purchase was financed by a $504,000 mortgage with Bank of the Ozarks that matures in 2022. Robert and Laura Smith, owners of BTC Rentals Two, took out the loan.

The Smiths have rental properties around the state, but this is their first in Little Rock, Robert Smith said. He has three single-family rentals in other areas of the state, he said.

The Smiths publish neighborhood newsletters around the city, he said. They also have a farm in west Arkansas.

He decided to buy the Spruce Street property because "we like the area," Robert Smith said.

"We like the fact that it is young professionals renting that particular property," Robert Smith said.

The property has four regular apartments and a loft apartment, he said.

Mitchell Elementary

KLS Leasing LLC, an affiliate of the Walton Family Foundation, filed a corrected deed last month to make a change to a deed that was filed originally in April. The change was to remove the name of the treasurer of KLS Leasing.

KLS paid $440,000 to buy the abandoned Mitchell Elementary School at 2410 S. Battery St. as well as nearby buildings from the Blevins Family Trust. Mitchell Elementary, which was built in 1908, was formerly in the Little Rock School District.

The three-story building, with more than 42,000 square feet, has been vacant since 2003 when students moved to other schools ahead of an announced renovation. The school district did not refurbish the building and closed Mitchell in 2005.

The Walton Family Foundation plans to lease the school to ScholarMade Educational Services Inc., which is seeking approval to teach 520 students at a charter school on the property. Renovation on the buildings will take about a year.

SundayMonday Business on 07/30/2017

Print Headline: Tulsa company buys NLR Hideaway Pizza restaurant for $3.2M


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