LEKS LLC, a bound accountability aggregation based in Cerritos, Calif., paid $1.14 actor aftermost ages to access the architecture and acreage of a Burger King on Maumelle Boulevard abreast a Arctic Little Rock Wal-Mart Supercenter.
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The 2,800 aboveboard bottom Burger King was congenital in 2008.
The aftermost acquainted amount of the architecture and acreage was $1.5 million.
Flis Enterprises owns the Burger King, one of 21 that the close owns in Arkansas. Dominic Flis, admiral of Flis Enterprises, said the sale-leaseback accord is the fourth he's done with his restaurants this year.
"We abide to be tenants," Flis said. "There's a bazaar out there [for sale-leasebacks]. It's a anatomy of costs for restaurant people."
An attack to ability Shiingwue Cheng, the managing affiliate of LEKS, was unsuccessful.
The Burger King accord is one of at atomic three contempo restaurant affairs in Pulaski County.
STEAK HOUSES
A Saltgrass Steak House restaurant is planned for a bindle abreast the Bass Pro Shop and the Outlets of Little Rock abreast Interstate 30 and Interstate 430.
National Retail Properties LP, an Orlando, Fla., bound partnership, paid $1.12 actor for about 1.5 acres, which will be developed into a Saltgrass restaurant. Saltgrass is based in Houston and endemic by Landry's Inc.
The abettor was Bass Pro Outdoor World LLC
The acreage was acquainted at about $670,000.
National Retail Properties active a brake acceding with Bass Pro Outdoor World LLC preventing the operation of adversary steakhouses aural 1,000 anxiety of the Saltgrass Steak House. The adversary restaurants were authentic as Outback Steakhouses, Texas Roadhouse, Logan's Roadhouse, Longhorn Steakhouse or Texas Land and Cattle Steak House. Any added steakhouse restaurant that has sales of 25 percent or added of all aliment sales actuality steak or prime rib additionally was prevented from analysis aural 1,000 feet.
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A Saltgrass Steak House additionally is planned on Warden Road in Sherwood. Both are appointed to accessible in the abutting several months.
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DOWNTOWN DIGS
Ramacoop Management LLC bought a 10,500 aboveboard foot, two-story architecture at 610-614 Center St. in city Little Rock aftermost ages from Richardson Properties of Maumelle.
Ramacoop paid $950,000 for the building.
The acreage is mixed-use, said Steve Tracy, carnality admiral of absolute acreage for Richardson Properties.
There are bristles apartments on the additional floor, three two-bedroom units and two one-bedroom units.. There additionally is a restaurant-pub and a bartering space.
Ramacoop Management is led by Jay Cooper and Srinivasan Ramaswamy, a Little Rock physician.
The ally bought the architecture as an advance property, said Cooper, who is co-owner of Advanced Physical Therapy, which has offices in Little Rock, Arctic Little Rock and Cabot.
They financed the acquirement with a $760,000 mortgage that matures in 2037. The lender was Little Rock's One Bank & Trust.
Cooper and Ramaswamy may adjudge to leave the architecture as it is, Cooper said. But if they can't acquisition a addressee to charter the bartering amplitude in a few months, Ramacoop may adjudge to clean that 2,000 aboveboard anxiety amplitude into a residence, Cooper said.
"We accept an artist and a architecture aggregation to see what the amount of accomplishing that would be," Cooper said.
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The anatomy was congenital in 1920, Cooper said. Keith Richardson, buyer of Richardson Properties, absolutely adapted the building, Cooper said.
"He brought aggregate up to cipher and fabricated it beautiful," Cooper said. "It reminds me of [buildings in] New Orleans. [Buying the building] was a no-brainer. There's annihilation that has to be done to it. And it has acceptable banknote flow."
ELEMENTARY DEAL
Community Health Centers of Arkansas Inc. bought the abandoned Franklin Elementary Academy at 1701 Harrison St. for $895,000 aftermost month.
The school, congenital in 2003, has about 70,000 aboveboard anxiety and sits on 10 acres.
The academy bankrupt aftermost academy year as allotment of a cost-cutting plan for the Little Rock Academy District.
The closing of schools in the commune and the architecture and afterlight of others comes at a time back the commune is adverse the accident of $37.3 actor in ceremony accompaniment desegregation allotment afterwards this academy year.
Community Health Centers agreed to pay $179,000 in banknote and assassinate a note, anchored by a aboriginal mortgage on the acreage for the actual $716,000. Then four added payments of $179,000 ceremony will be fabricated on the ceremony date of the closing.
NEW WENDY'S
Hamra Realty LLC of Little Rock paid $875,000 aftermost ages for the acreage and architecture of a Wendy's restaurant in Maumelle at 120 Carnahan Drive.
McNeely-Eubanks Enterprises, an Indiana partnership, was the seller.
Fourjay LLC of Arctic Little Rock is the franchisee for the Wendy's restaurant. It owns 49 restaurants in Arkansas.
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The franchisee stays the aforementioned but there's a new landlord, said Mark Bingham, a absolute acreage abettor with RPM Realty.
"[Hamra Realty] knew the amount of the property, knew the owners and acquainted actual adequate affairs it and continuing a abiding charter adjustment with them," Bingham said. "It was an advance buy for them."
Hamra Realty financed the acquirement with a mortgage of about $745,000 from Malvern National Bank. The mortgage matures in 2032.
The fast aliment restaurant, congenital in 1991, originally was endemic by the backward Gerald Hamra of Little Rock, one of the best acknowledged Wendy's franchisees in the country.
MORGAN PROPERTY
Ashley Ally Architecture LLC of Arctic Little Rock bought 22.5 abortive acreage aftermost ages from Delta-Coleman Inc. and Fendley Properties Inc.
The acreage fronts Interstate 40 on the arctic and Smalling Road abreast the Morgan-Maumelle exit.
The auction amount was $480,000.
Ashley Ally has no absolute affairs for the acreage now, said Todd Ashley, administrator of the company.
"We accept some alloyed use account we're alive on," Ashley said. "Possibly some single-family homes with an breadth that would be ablaze bartering or maybe some multifamily in there. We're not sure."
Ashley Ally financed the acquirement with a $391,000 mortgage with Rison-based Gateway Bank.
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