Central & Southern Companies LLC, led by Henry Nichols, sold the Central & Southern Distribution project at 1316 North Hills Blvd.
The buyers were Central LLC, led by L. Dickson Flake, $11.19 million; and Highway 107 Associates LLC, led by James May III, $2.8 million.
The project encompasses five buildings (three warehouses and two cold storage facilities) with about 750,000 SF under roof.
The deal was financed with a one-year loan of $19.77 million from Central & Southern. The two limited liability companies also bought the Central & Southern development in Pine Bluff in a separate transaction.
The development previously was tied to a February 1996 mortgage of $3.4 million held by Metropolitan National Bank of Little Rock.
The Nichols family assembled most of the North Little Rock property in three deals totaling $65,897.
The sellers were Fred Watkins Jr. and his wife, Katherine, and Metropolitan Trust Co., led by John Matthews, $29,160 in November 1956; Elizabeth Leigh Vaughan, Patricia Leigh, Sarah Leigh Brown and Lamartine Leigh Jr., $26,640 in July 1956; and the Missouri Pacific Railroad Co., $10,097 in November 1956.