Category: Business News

The Residences at Gracie Mansion Sells to Local Historic Multifamily Owners

Gracie Mansion

Haybar Properties has announced the sale of The Residences at Gracie Mansion in downtown Little Rock to Mark Brown and Jill Judy of Downtown Dwellings. Brown and Judy are known for acquiring, restoring, and managing historic multifamily properties throughout the downtown area.

The seller group included Haybar owner Bryan Hosto, architect Tim Heiple, investor Bo Briggs, and Hank Kelley of Kelley Commercial Partners, each holding a quarter interest. The 75-unit property sold through a national auction for $5.7 million, as reported by Arkansas Business.

The partnership originally acquired the property in 2011 when it was in significant disrepair and invested heavily in restoring the 3-acre site, including the historic Absalom Fowler House and the surrounding apartment buildings. Kelley Commercial Partners has served as property manager since the renovation was completed in 2013.

We are pleased that The Residences at Gracie Mansion will remain in the hands of engaged local owners who share a commitment to caring for residents and preserving downtown’s historic fabric.

Read the full article from Arkansas Business here: https://www.arkansasbusiness.com/article/gracie-mansion-apartments-sold-little-rock/

2026 Top Ten Issues Affecting Real Estate

2026 Top Ten Issues Affecting Real Estate

Each year, The Counselors of Real Estate® (CRE®) surveys its global membership to identify the forces most likely to shape real estate over the next 12–18 months. The newly released 2026 Top Ten Issues Affecting Real Estate® is out, and it offers a clear, practical framework for thinking about the road ahead.

At a high level, the report reinforces what many of us are seeing on the ground: fundamentals still matter, capital is selective, technology is reshaping everything from underwriting to operations, and people – where they live, work, and move – remain the ultimate demand driver.

The 10 issues highlighted are:

  1. Fiscal & Monetary Policy – Record national debt, a large federal deficit, and uncertain interest rate policy continue to influence investment decisions and pricing. 
  2. Portfolio Risk – Risk analysis has expanded well beyond simple occupancy and cash flow; investors and occupiers are now weighing climate, regulatory, insurance, and geopolitical risks across entire portfolios.
  3. The Changing Nature of Real Estate: Back to the Fundamentals – With cap rate compression no longer masking weak performance, returns will increasingly depend on smart underwriting, active asset management, and picking the right building, not just the right sector. 
  4. Capital Sources & Flows – Equity is cautious and transaction volume remains muted, even as debt capital is still available. Raising capital requires a clearer, more compelling story around liquidity and long-term viability. 
  5. Transformation of Real Estate Through Technology – AI, data centers, and PropTech are changing how properties are selected, financed, operated, and secured. Ownership and control of data inside buildings is becoming a strategic issue. 
  6. The Future of Real Estate – We are entering a “golden age” of analytics, where better data and more powerful tools demand more disciplined, modern approaches to decision-making. 
  7. Global Chess: The Crisis of Confidence & Uncertainty – Policy shifts, tariffs, and declining transparency are contributing to a persistent “what if” environment that complicates everything from development plans to financing. 
  8. Housing Attainability – Housing pressures now affect a wide range of income levels, with higher costs, limited land, zoning constraints, and slow approvals creating friction at every step of the housing pipeline. 
  9. Pricing Risk – A “debt overhang” from maturing loans, especially across office and multifamily, is fueling a drawn-out workout cycle, widening bid-ask gaps, and making valuation more complex. 
  10. Flow of People – Slowing household formation, migration, and immigration are reshaping demand patterns across markets; traditional “growth stories” are evolving, and location decisions are becoming more nuanced. 

For owners, investors, lenders, and occupiers in Arkansas and beyond, these themes show up in very practical ways: which assets to hold or sell, how to think about pricing risk, where to invest in improvements, and how to position properties to attract tenants and talent in a slower-growth, more data-driven environment.

We encourage our clients and partners to read the full report and consider how these issues intersect with their own portfolios and plans.

Read the 2026 Top Ten Issues Affecting Real Estate®

If you’d like to discuss what these trends could mean for your properties or future investments, the team at Kelley Commercial Partners is always available to help you think through next steps.

Milano’s Moves to The Center at Chenal

Milano's Italian Grill

We’re pleased to welcome Milano Italian Restaurant to The Center at Chenal, a Kelley Commercial Partners-managed property located at 17200 Chenal Parkway in west Little Rock.

After years in their cozy location off Cantrell Road, Milano’s has found a new home in a larger, more refined space formerly occupied by Kemuri West. The new setting features black tablecloths in the main dining area and white tablecloths in a private alcove that can be closed off for parties, offering a more polished atmosphere while keeping the same welcoming feel that made it a local favorite.

The menu still features the generous portions and Italian comfort food regulars have come to love, including house-made sauces, classic baked pastas, and crowd-pleasing appetizers like fried ravioli and Mozzarella Caprese. The Fra Diavolo brings the heat, and the Veal Marsala remains a staple, now served in an elegant space perfect for date nights or group dinners.

Milano’s relocation is part of the continued momentum at The Center at Chenal, which is quickly becoming a destination for dining, shopping, and entertainment in west Little Rock. We’re proud to have played a role in helping Milano’s take this next step and invite you to stop by and see what’s new. 

Big Wins for Kelley Commercial Partners at the 2024 CREC Commercial Real Estate Awards!

Commercial Real Estate Council of Metro Little Rock (CREC MLR)

We are proud to share that Kelley Commercial Partners was recognized at this year’s Commercial Real Estate Awards, presented by the Commercial Real Estate Council of Metro Little Rock (CREC MLR). This event highlights the most significant transactions and projects shaping our market, and we were honored to take home awards in multiple categories:

• Largest Retail Lease1200 Breckenridge Drive / Film Alley
Represented by Hank Kelley & Daryl Peeples

Largest Office Sale7773 Sloan / Lexicon
Represented by Hank Kelley, Nick Kelley & Gary Smith

We were also proud to see the redevelopment of Breckenridge Village recognized as Commercial Real Estate Project of the Year! As participants in the redevelopment—through property management, development, leasing, and partial ownership—we’ve seen firsthand the dedication and collaboration that made this transformation possible. It’s an exciting milestone for Little Rock’s retail and entertainment landscape.

In addition to these highlights, several of our transactions were recognized among the top deals of the year in the industrial, office, and land categories. We’re grateful to be part of such a dynamic commercial real estate community and appreciate our clients and partners who make these successes possible.

Congratulations to all of this year’s winners and nominees!

#KelleyCommercialPartners #CREAwards #LittleRockCRE #CommercialRealEstate #Retail #Office #Development #BreckenridgeVillage #OurCityOurBusiness

Jersey Mike’s Continues Expansion in Little Rock with New Location on Chenal Parkway

Jersey Mike's

We’re excited to announce the recent opening of a new Jersey Mike’s Subs location at 12319 Chenal Pkwy, Suite B, Little Rock, AR 72211, further expanding this beloved sandwich brand in the Little Rock area. The new store marks another milestone for the local franchise owner, who, along with his wife, moved to Arkansas from Chicago four years ago to pursue their dream of owning a lake house and becoming a part of the Arkansas community. Now based in Cabot, they’ve opened eight Jersey Mike’s locations, with plans for four more in the near future.

Jersey Mike’s stands out for its commitment to freshness. As the franchise owner explains, “Bread is baked fresh daily, lettuce, tomatoes, and onions are prepared fresh, and all cold subs are sliced in front of the customer. Hot subs are grilled fresh and made to order—all done with great store teams.” Jersey Mike’s also shines through its community involvement, with grand openings always supporting local charities and an annual “Day of Giving” on the last Wednesday of each March, where 100% of sales are donated to a chosen cause. Last year, over $125,000 was raised for Arkansas Children’s Foundation!

When it comes to subs, the most popular cold sub is the Number 13 (The Italian), while the Number 17 (Mike’s Famous Philly) leads the way for hot subs.

Working with Kelley Commercial Partners and Brooke Miller has been a vital part of their success. “Brooke has almost single-handedly laid the market, found great sites, and helped get landlords on board with great deals. This growth does not happen without her.”

We’re proud to have played a role in bringing Jersey Mike’s to more locations in Arkansas and look forward to seeing the continued success of this outstanding franchise.