Category: Community Involvement

Kelley Team Members Accepted into LGLR Classes XXVI and XXXVII

Posted on 09/30/21

Yesterday at an event in the River Market Pavilion sponsored by Central Arkansas Water, the Little Rock Chamber formally announced the members accepted into the 2021-2022 Leadership Greater Little Rock Classes XXXVI and XXXVII. Kelley Commercial Partners is proud to have one associate in each class. Eric Varner joins Class XXXVI and Brandon Sheard will be a member of Class XXXVII. Although members of Class XXXVI were accepted in 2020, the program was postponed due to the pandemic.

Eric Varner, Property Manager and Partner

Eric Varner, Class XXXVI

Partner and property manager, Eric Varner, joined Kelley Commercial in 2013 and manages premier medical buildings, office buildings, and retail centers representing major health care providers, national banking institutions, international investment firms, local physicians, and several individual investors. He coordinates overall management, leasing activities, construction management, and financial oversight for his portfolio which consists of more than 2.4 million square feet.

Brandon Sheard has been an agent with the firm since 2019. Having worked in a variety of roles and industries, Brandon has acquired a diverse but complementary set of skills and experiences that enable him to bring perspective and innovation to clients. In a relatively short period of time, he has successfully completed transactions in both sales and leasing, representing owners, users, and investors. Brandon welcomes challenges and dedicates himself to exceeding clients’ needs and expectations.

Established in 1985, Leadership Greater Little Rock seeks to develop the skills of community leaders by training and informing participants of public policy opportunities and challenges. The nine-month program covers topics including government and politics, education, social services, and economic development. Participants meet each month at a different Central Arkansas venue to explore topics through tours, lectures, presentations, dialogue, and interaction.

Brandon Sheard, Class XXXVII

Varner and Sheard will make a total of ten Kelley Commercial associates who have been accepted into the chamber’s program. Former alumni include Jim Dailey (Class I), Hank Kelley (Class V), Daryl Peeples (Class VI), Drew Laning (Class XXXIII), Jessica Kokinos (Class XXXIII), Cynthia Lu (Class XXXIV), and Nicholas Kelley (Class XXXV).

Kelley Commercial Partners extends its congratulations to all members of the Leadership Greater Little Rock Class XXXVI and Class XXXVII.

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.

Hank Kelley: featured keynote speaker

Posted on 02/02/21

Hank Kelley joins Scott Ford, Myron Jackson, Marta Loyd, and Darrin Williams as a keynote speaker at the Arkansas Business Executive Leadership Academy Spring 2021 Program. The five-session program is designed to encourage personal development and professional growth for the state’s emerging business and nonprofit leaders. Participants will benefit from personal and professional strength assessments, on-on-one coaching, and mentoring from some of the state’s top CEOs and nonprofit executives.

Kelley will be the featured speaker for the April 16 session. Having led the company through a recent ownership and name change, he will share his expertise on “Leading through Organizational Change.” In May 2020, Kelley finalized an amicable stock purchase from former partner John Flake and the firm was renamed Kelley Commercial Partners.

Applications for the Spring 2021 sessions must be completed by February 22. The first session will be held March 5 and the final session on April 30.

36th Annual International Greek Food Festival this Friday and Saturday

Posted on 10/21/20

Opa! Did you miss something this past May? The International Greek Food Festival? Well, it’s here! It’s a little different this year, but the food promises to be as good as always. The event, which is the largest ethnic festival in Arkansas, was postponed this May due to the coronavirus pandemic.

Order now for pick-up Friday and Saturday

The Annunciation Greek Orthodox Church, which has presented the much-loved Festival for over 35 years, will offer its famous handmade Greek food and pastries Friday, October 23rd and Saturday, October 24th for drive-through pickup. Featured dishes on the menu include gyros, pastitsio, spanakopita, two types of baklava, the Festival’s famous Greek meatballs, and much more. Order online and pick up between 11 a.m. and 7 p.m. at 1100 Napa Valley Dr, Little Rock.

“The 2020 International Greek Food Festival looks forward to continuing its tradition of serving food, friends, and the community,” said Festival Chair Jerry Horani. “While we can’t showcase our exciting entertainment, music, and cultural markets this year, we can still support fantastic charities with the help of our wonderful sponsors and the central Arkansas community.”

The International Greek Food Festival has donated more than $1.5 million to over 30 charities that serve children, families, and communities throughout central Arkansas. Proceeds from this year’s festival will benefit Community Connections, Centers for Youth & Families, Easterseals Arkansas, Humane Society of Pulaski County, Ronald McDonald House Charities, Wolfe Street Foundation, and Youth Home, Inc., as well as Annunciation Ministries. In addition, a truck from Arkansas Foodbank will be on-site at the church to accept all kinds of food donations.

For more information, a full list of the charities supported by the Festival, and a menu for the drive-through event, visit their website. Pre-ordering is now open.

Kelley Commercial Partners rebrands and looks forward

Posted on 07/23/20

We recently sat down the Daily Record to talk about Kelley Commercial Partners’ recent rebranding efforts and how excited we are about the future of the firm. CEO and executive broker of KCP, Hank Kelley, emphasized that while our name has changed, the company will continue to operate much in the same way it has for the better part of three decades. Most of the firm’s current partners have been in place for several years, and in order to underscore the value of their knowledge, experience, and hard work, Kelley wanted to include the word “partners” in our new name.

And before the ink could dry on our new business cards, an unexpected global pandemic hit and we knew our clients and tenants needed our support more than ever. Property managers and brokers worked closely with tenants to help them understand the process and red tape involved in obtaining state and federal assistance, while our facilities team helped to ensure the health and safety of the occupants in more than 7.4 million square feet of property managed by our firm. Kelley Commercial Partners has also been involved in negotiations that will bring Costco and Amazon to Little Rock.

All in all, it’s been a challenging year for everyone, but Kelley Commercial Partners still sees a bright future for Arkansas and we will continue to serve our community for decades to come.