Plymouth Properties

You may have heard Steve Clary, a bankrupt Little Rock real estate developer, is on his way to prison for mail fraud.

As such, an asset of his in Northwest Arkansas is on its way to a new owner, in a steal of a deal.

Southard Financial, a business valuation, investment banking and financial advisory firm based in Memphis, recently paid $576,000 for two commercial assets owned by Clary — a 32,426-SF combination office-showroom/warehouse development at 9900 Maumelle Blvd. in Maumelle, and a 15,600-SF building at 411 Industrial Drive in Tontitown.

Plymouth Building Products Inc., owned by Southard, is the tenant of both buildings.

The seller? CTRJ Properties LLC, one of many entities once under Clary’s management through Clary Development Corp.

Clary pleaded guilty to the fraud charges earlier this year, and was sentenced Oct. 30 to a 30-month stretch in federal prison.

Clary bought the Maumelle and Tontitown properties in a sale/leaseback deal from Burton Building Products Inc., led by Steven Burton, in early 2002.

The price? $1.7 million.