Texas firm pays $1.5M for building housing T-Mobile in Jacksonville

Texas firm pays $1.5M for building housing T-Mobile in Jacksonville

Vegamelt II LLC, a limited liability company, paid $1.5 million for the T-Mobile building at 1807 T.P. White Drive in Jacksonville.

Vegamelt II LLC, a limited liability company, invested $1.5 million to buy a building housing a T-Mobile retail outlet in Jacksonville last month.

The T-Mobile store is at 1807 T.P. White Drive near the main gate of the Little Rock Air Force Base. The 3,000-square-foot building opened last year.

The building was appraised at about $620,000 this year.

The seller was Washington-based Madison Jacksonville LLC.

Vegamelt, based in Spring, Texas, borrowed $1.2 million from Little Rock-based One Bank & Trust to help finance the purchase. The mortgage matures in 2023. John Christopher Melton Sr. and Sheryl Vega Edmonds are members of Vegamelt II and signed the mortgage.

TIMBERLAND SOLD

City Timberlands LLC paid about $1 million last month to Stalnaker Investments LLC for almost 28 acres and two houses in west Little Rock.

The land, which includes almost 25 acres of timber, is near the intersection of Denny and Gordon roads and also near Chenal Valley Drive.

One log house, built in 1939 according to Pulaski County records, has almost 2,200 square feet. The other home was built in 1981 and has about 1,400 square feet.

Stalnaker Investments, based in Bentonville, is led by Clifford and Opal Stalnaker.

City Timberlands, led by Jenny Holt Teeter, is based in Little Rock. Teeter is both the registered agent and an officer of City Timberlands.

APARTMENTS SOLD

JNX Holdings LLC of Seattle bought a 12-unit apartment complex in Little Rock in April for $680,000.

The apartments, at 5919 W. 19th St. near South University Avenue and Boyle Park Road in Little Rock, were built in 1965.

The seller was J. Hoffman Properties LLC. Bryan C. Teeter is a member of J. Hoffman Properties, which bought the apartments last year for $395,000.

The apartments were appraised at almost $410,000 this year.

JNX borrowed $476,000 from Bank of the Ozarks of Little Rock to help finance the acquisition. Neil Derek Robinson and Elisabeth Rose Embry, each a manager of JNX, signed the mortgage.

HOMES AND WAREHOUSE

Romero’s Enterprises LLC last month bought two 1,100-square-foot houses and a 6,000-square-foot storage warehouse, all on Chicot Road in southwest Little Rock.

Romero’s Enterprises paid Talton Property Management Inc. $340,000 for the buildings.

The combination storage warehouse and office building is at 12300 Chicot Road and was built in 1979.

The two, one-story houses were built in 1950 and 1960.

Jesus Romero and Alvaro Romero were the incorporators of Romero’s Enterprises. Jesus Romero was also the registered agent.

SundayMonday Business on 05/06/2018

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Marcia Mosley