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Storage Sale.

A 44.5-acre warehouse development in North Little Rock changed hands in a near $14 million deal.

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.
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Title Annotation:Central & Southern Distribution warehous development sold
Comment:Storage Sale.(Central & Southern Distribution warehous development sold)
Publication:Arkansas Business
Article Type:Brief Article
Geographic Code:1U7AR
Date:Apr 16, 2001
Previous Article:Bank Land.
Next Article:Mortgage Lending.

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