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Would-be bank branch flips in burger buy.

Would-Be Bank Branch Flips In Burger Buy

The ever-popular Whattaburger chain is slated to elbow its way into the Little Rock fast-food market during the coming weeks.

Franchiseholders Craig and Patricia Terry of Texarkana recently bought the old Krystal outlet at 7610 Geyer Springs Rd. from One National Bancshares. The Terrys bought the 38,760-SF property for about $250,000 ($6.44 per SF).

Although the sale reflects a $65,000 writedown on the property, One National Bank was good enough to finance the sale with a one-year note for $240,000.

The bank acquired the property from the The Krystal Co. of Chattanooga, Tenn., for about $315,000 in 1988 and intended to develop a branch bank there at one time. Back in 1982, Krystal paid $170,000 for the site.
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Title Annotation:Real Deals; Whattaburger
Author:Waldon, George
Publication:Arkansas Business
Date:Sep 10, 1990
Previous Article:Partially-done deal.
Next Article:Cash crunch or day of reckoning?

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