Author: Paula Guajardo

Opportunity Zones: The Basics

Posted on 09/09/21

What are opportunity zones?

Opportunity zones were created by congress as part of the Tax Cuts and Jobs Act of 2017 to spur economic growth in economically distressed communities. In April of 2018, Gov. Asa Hutchinson proposed 85 tracts around the state be designated as official Opportunity Zones in Arkansas. By December of that year, the US Department of the Treasury confirmed this proposal and all 85 tracts were designated as Qualified Opportunity Zones (QOZs). There are more than 8,700 designated zones nationwide that provide tax incentives for private investment in low-income communities. Opportunity Zone properties around the state vary greatly. They include urban/downtown, industrial, suburban, and rural areas—but each QOZ shares the same need of a spur in economic growth and job creation. Click here to view an interactive map of opportunity zones in Arkansas.

How do they work?

Investors who wish to take advantage of this program have 180 days to reinvest any prior eligible capital gains into a Qualified Opportunity Fund (QOF) and by doing so, they receive several tax incentives on those gains. The QOF is created to invest in an opportunity zone property with at least 90 percent of its assets dedicated to the QOZ. By reinvesting all or a portion of their gains into a QOF, the investor’s capital gains tax may be deferred until the sale of the QOZ investment or until December 31, 2026, whichever comes first. If the QOZ is held for five years, the investor will benefit from a 10% exclusion of the deferred gain; holding it for seven years will increase the exclusion to 15%. Investors who hold the QOZ for at least 10 years will eliminate paying a capital gains tax on appreciation of the QOZ property.

Who benefits?

Investors benefit from the preferential tax treatment while communities benefit from property improvements, job creation, and new businesses. Small businesses operating in the opportunity zone may also benefit with an equity investment from a QOF. There are requirements that must be met to qualify as an Opportunity Zone Business (QOZB), which are outlined in detail in the New Proposed Regulations.

The Opportunity Zones program is a unique and effective economic development tool and an important part of making our communities and neighborhoods stronger, safer, and more economically healthy. As Opportunity Zones grow and prosper, the communities around them reap the benefits, which in turn, benefits everyone.

Learn more:

IRS: Opportunity Zones

Arkansas Economic Opportunity Zones

The information provided here in is not to be construed or relied upon as legal or tax advice.

Franks Dermatology adds SKN at Franks Dermatology

Posted on 07/29/21

Rachel Sims, RN and Hayden Franks, MD partner to add SKN at Franks Dermatology

Franks Dermatology opened in Suite 320 of the Simmons Plaza Building at 4220 N. Rodney Parham Rd. in 2017. Dr. Hayden Franks and his wife, Lynne renovated the 2,064 s.f. suite and created a beautiful space for his patients from the moment they enter the reception area and into each examination room. They thought of every detail with the patients’ care and comfort foremost in their design. After practicing for more than 20 years, Franks has built a reputation for providing exceptional care. His staff shares the same commitment to the patients. Franks specializes in medical dermatology, surgical dermatology, and skin cancer.

In March, Franks partnered with Rachel Sims Miller to open SKN at Franks Dermatology located in Suite 102 of Simmons Plaza. This 1,977 s.f. space was also renovated to create a welcoming and relaxing space for clients. SKN offers high-end skin care and a wide range of aesthetic products. Miller is a registered nurse and an aesthetic nurse injector with more than seven years of experience. Her training and continuing education keep her informed of the latest, safest, and most effective products and procedures available. She has also developed her own skin care line, Miller Marsh Cosmetics. Like Franks, Miller is passionate about her work and dedicated to providing superior care to each client.

Senior property manager, Cheryl White, says Franks and Miller have been a pleasure to have as tenants. “I wish them great success with their newest endeavor. SKN is a wonderful addition the to the building and community,” said White.

Kelley Commercial Partners leases and manages properties to suit a variety of medical practices. If you would like more information about what we have available, please call 501.375.3200.

Dog Days? Pretty Paws!

Posted on 07/21/21

Is your pooch looking a little unkempt during these “Dog Days” of summer? Well, our newest tenant at Breckenridge Village Shopping Center, Pretty Paws Pet Grooming, can get your fur baby looking and feeling great again. Tabbitha Taber and Dominick Maida opened this boutique pet grooming salon on May 20^th of this year.

Tabbitha and Dominick make a great team. She handles all the pups in the front of the shop, while he handles all the biz in the back. Of course, Dominick will often step out of the office to play with a pup or two. Can you blame him?

Tabbitha has been grooming dogs for about seven years, and in spite of the daily occupational hazard of a dog bite, she absolutely loves what she does. She says, “I love all animals!” At home she has four dogs, four cats, and a rabbit.

Tabbitha started her pet grooming journey as a bather at a shop in Bryant and as she observed the groomers, she knew right away that she had found her passion. Anxious to learn, she spent the next year training in Bryant with a groomer who specialized in show poodles. Since then, she has worked at a number of veterinary clinics and grooming salons before the opportunity to open her own place presented itself. One evening the couple was visiting Angie Creal, owner of Axis Salon in Suite A7 of Breckenridge Village when they noticed the “For Lease” sign in the window of the space downstairs. “It just happened to be the perfect size and had some other features which were exactly what I was looking for to open Pretty Paws,” says Tabbitha.

Working with leasing agent, Brooke Miller and property manager, Missy Cherry, Tabbitha and Dominick signed a lease and got to work. The result is a fun, colorful space designed to keep the animals happy and safe. “It’s all about the animals,” she says. Of course, she loves to please her two-legged clients too, but Tabbitha readily admits, “If I didn’t have to have money to live, I would do this [job] for free!”

Pretty Paws is located in Breckenridge Village Shopping Center at 10301 N. Rodney Parham, Suite A3. They are open Monday through Friday from 8 a.m. to 6 p.m. and are currently offering a 20 percent discount to customers who send a referral. Military and senior citizens (65+) always receive a 10 percent discount.

Seafood Recipes from New Orleans

Posted on 07/15/21

It’s summertime and that means trips to the shores and dining on the day’s catch while the sun sets! And what better place to source for recipes featuring fresh seafood than New Orleans. We’re sharing recipes for House Party Jambalaya and Lobster Risotto provided by our ChainLinks partner, Corporate Realty of New Orleans. If you have a favorite recipe you’d like to share with us, send it to marketing@kelleycp.com.

As the state’s exclusive member of the ChainLinks retail advisors network, Kelley Commercial Partners is positioned to build strategic relationships with commercial real estate companies nationwide — 750 brokers in the top 50 markets of North America, to be exact. ChainLinks’ is the leading brokerage network for retail-only commercial real estate services and our membership puts our market in front of leading landlords, developers, and property investors which leads to results for our clients. Through collaboration with ChainLinks members, we have handled site selection needs for some of the nation’s top retailers, including Five Below, TJX Companies, Bloomin’ Brands, and many others. To find out more about the Kelley Commercial Partners retail advantage, please contact us.

Landlord representation strategically positions property in the market

Posted on 05/03/21

Landlord representation is just one aspect of the full range of brokerage services provided by our agents at Kelley Commercial Partners. Landlords, property owners, and investors in the know utilize our services to gain a better understanding of the market and, armed with the expertise and knowledge our agents provide, optimize the return on their investments. “We help property owners make informed decisions by strategically positioning their property in the market to achieve the best results,” said Daryl Peeples, president and partner at KCP.

Daryl Peeples, President, Principal Broker, Partner

“We help property owners make informed decisions by strategically positioning their property in the market to achieve the best results,” said Daryl Peeples, president and partner at KCP.

The first step in our process is evaluating your property and understanding your unique goals. After a tour of the property, agents will perform a thorough market analysis, make recommendations for any improvements or repairs, discuss competitive lease rates, current occupancy rates, and identify all possible tenants. This knowledge builds the foundation of our next step: an effective marketing plan.

Marketing your property through Kelley Commercial Partners includes high-quality photography, prominent signage, a property brochure, and exposure on our website and the nation’s leading commercial real estate search engines including Costar and Crexi. For retail property owners, we have a direct connection to a large network of retail partners across the country through our exclusive membership in ChainLinks Retail Advisors. Additional digital marketing includes regularly scheduled email campaigns sent to targeted lists of prospects as well as social media posts to our growing number of followers. Throughout the marketing process, agents keep you informed with open lines of communication and they are available at any time to address questions or concerns.

With a marketing plan in place, the real work for you and your property begins. Agents begin prospecting the most viable leads, conduct showings, screen prospects, negotiate rates, draft lease agreements, and perform all due diligence involved in the leasing process.

Even for the experienced landlord, leasing a property can be a time-consuming process and finding the ideal tenant can be a challenge. With our agents on your side, you can rest assured that we are committed to our fiduciary responsibility to you and we will work to serve your best interests.