Industrial mortgage.

Development of a 7.5-acre industrial property in North Little Rock is in motion with a $5.3 million funding agreement.

Burkhalter Property Group LLC, led by John Burkhalter, Todd Smith, Stephen Niswanger, William Pierce and Scott Harter, received the three-year loan from Bank of the Ozarks.

The property on O'Neal Lane previously was linked with a July 2004 mortgage of $675,000 held by North Little Rock's National Bank of Arkansas.

The land was acquired in March 2007 as part of a $1 million transaction with Burkhalter Leasing LLC, led by John Burkhalter.