Category: New Business

Simmons Tower Lobby Perks Up

Italian Coffee Corner

Things are perking up in the lobby of Simmons Tower. Italian Coffee Corner opened in early November, and it is quickly becoming a regular stop for a morning boost, lunch, or an afternoon pick-me-up.

Owners, Bruno Muskaj and wife, Yuliia Kornytska had just opened Coffee Corner in Maumelle when they learned about lobby space available in Simmons Tower. Brooke Miller and Brandon Sheard of Kelley Commercial Partners met with the couple and showed them the space in the southeast corner of the lobby. The couple decided to go for it and open a second location. They placed their order for another Italian-made Lavazza espresso machine and waited three months for its arrival. The Lavazza finally arrived, and she is a beauty! With Bruno in charge and using Lavazza’s 100 percent Arabica beans, the results are smooth, rich, and oh, so gratifying.

Yuliia and Bruno met while working on a cruise ship and dreamed of opening a coffee shop of their own. They were about to open one in Saranda, Albania when Covid hit and a friend asked them for help in his restaurant in Arkansas. Arkansas? Bruno grew up in Albania and never thought he could live away from the sea, but when he saw Arkansas, he loved it. “It’s beautiful here. Lots of trees. Plenty of water,” Bruno said.

Bruno Muskaj, co-owner of Italian Coffee Corner

Bruno Muskaj, co-owner of Italian Coffee Corner

Bruno’s love for coffee began at a very early age when his Italian grandmother showed him how to make espresso. His favorite drink is the ristretto, which is a concentrated, short espresso shot. Yuliia’s Ukrainian roots influence the pastries they serve — buttery, flakey, and delicious.

Now with two shops, Yuliia manages the very busy Maumelle location while Bruno manages the downtown shop. Bruno prefers being in the center of the city with lots of activity. Their menus differ slightly but both offer plenty of options ranging from the crowd-favorite chocolate danishes to savory sandwiches served on their freshly baked, buttery croissants.

So, next time you’re downtown and need a little something to get you going, visit the Italian Coffee Corner in Simmons Tower. They’re open Monday through Friday from 7 a.m. to 3 p.m.* Coffee Corner in Maumelle is open Monday through Saturday from 6 a.m. to 2 p.m. and Sundays from 8 a.m. to noon.

* Hint: If you don’t happen to work in or near Simmons Tower, the southeast entrance nearest the intersection of 6th and Spring Streets will lead you directly to Italian Coffee Corner. Metered parking is almost always available on 6th St.

Tenant Estoppel Certificates

Are you a tenant? A landlord thinking about selling? Or an investor looking to buy a leased property? If you have answered “yes” to any of these questions, it is important that you understand what a tenant estoppel certificate is and the benefits and protections it offers.

What is a tenant estoppel certificate?

A tenant estoppel certificate is a legally binding document signed by a tenant verifying the current status and terms of a lease and specifying any modifications to the original agreement, defaults by the landlord, or other issues relating to the lease. Typically, an estoppel certificate is requested by the landlord as part of the due diligence process before closing on the sale of a property. This statement of facts regarding the lease and the premises estops either party from making a claim that contradicts those facts post transaction.

Tenant Estoppel Certificates Include

If you lease, own, or want to purchase a tenant-occupied property, it’s important to understand how a Tenant Estoppel Certificate can protect you.

Most commercial real estate lease agreements include a provision requiring a tenant to complete an estoppel certificate within a specified amount of time after receiving the Landlord’s request. However, only a landlord wishing to sell or refinance the property would request the estoppel. If a lease does not have a provision requiring a tenant to complete an estoppel certificate, it is in the best interest of the tenant to carefully review and complete the estoppel certificate to verify all pertinent lease information.

Why sign a tenant estoppel certificate?

From the tenant’s perspective, an estoppel certificate informs and certifies to the purchaser of the property (i.e., the new landlord under the lease) and, in the event of financing, the lender of any existing issues they will need to address after closing. For lenders and purchasers, the estoppel certificate verifies information presented by the landlord regarding the tenant, the premises, and certain material terms of the lease, which helps prevent any costly surprises after closing.

As a full-service commercial real estate firm, Kelley Commercial Partners provides landlord and tenant representation. And no matter which side we represent, we are committed to successfully guiding you through the process from the beginning through closing. For all your commercial real estate needs, let us be your partner to success.

Stretch Zone Opens in West Cantrell Plaza

Stretch Zone Staff

Stretch. Work. Play. Repeat. That is the mantra at Stretch Zone, a practitioner-assisted stretching facility that recently opened its first Arkansas location in West Cantrell Plaza at 14300 Cantrell Rd. in Little Rock.

Blake Mack, the general manger of the new West Little Rock location explains practitioner-assisted stretching as “a life-changing stretch experience that can provide clients with immediate relief from muscle pain and tension, improve pain-free range of motion, and enhance physical and athletic skills.” And the best part is, you see results from day one. Mack described his session with a client recently saying, “I had to remove her socks when we first began because she could not bend over to do that herself, but by the time we were done, she was putting on her own socks!” That’s a fairly impressive accomplishment after a single session.

Stretch Zone Patented Strapping System

Stretch Zone uses a patented strapping system and proprietary tables that position, stabilize, and isolate muscles.

Stretch Zone uses a patented strapping system and proprietary tables that position, stabilize, and isolate muscles, allowing practitioners to provide a unique stretching experience that simply cannot be accomplished at home. This unique approach is designed to help just about anyone, from professional athletes to those recovering from surgery, and even a completely unconditioned person with very limited mobility.

All Stretch Zone practitioners receive hands-on training and are certified by the National Board of Therapeutic Massage and Bodywork, which means you are always in good hands. They work with professional sports teams in the NBA and the NFL. Stretch Zone services are also included in some of the best spas around the world, from Miami, to New York City, to Italy. And if you’re looking to improve your golf swing, Stretch Zone has you covered. They work closely with Palm Beach Gardens, the PGA National Resort and Spa!

Stretch Zone’s operating hours are flexible enough to work just about anyone’s schedule. They are open from 7 a.m. to 7 p.m. Monday through Friday and 7 a.m. to 5 p.m. Saturday and Sunday. You can try your first stretch session for free. To book an appointment, call 501.812.3931 or visit their website.

Brandon Sheard and Kindley Wasson of Kelley Commercial Partners represented Stretch Zone, and Eric Varner of Kelley Commercial Partners represented the landlord. Welcome to West Cantrell Plaza, Stretch Zone, and welcome to Arkansas!

Kelley Kolettis Designs opens at The Shoppes at Rodney Parham

Kelley Kolettis Designs

Over the last 13 years Kelley Kolettis has progressed from art student, to experienced designer, to successful entrepreneur with her very own design firm, Kelley Kolettis Designs. The Shoppes at Rodney Parham became KKD’s newest home base in February 2022. “We were so pleased to work with such a talented member of the business community and help her find the perfect space for her firm,” said Cheryl White, senior property manager.

Kelley has a wide range of experience working in several different areas of the design world from furniture design, kitchen and bath renovations, commercial office layouts, and event planning, but her current focus and specialization is now on residential design and small commercial projects. Her busiest months are November and December when she is busy decorating homes and businesses around central Arkansas for the holidays.

Shoppes at Rodney Parham

Kelley Kolletis Designs, 10020 N. Rodney Parham, Suite 6, Little Rock. Illustration by Ellen Yahl

Kelley is available by appointment to meet with you at the studio located in Suite 6 of the Shoppes where her unique and sophisticated style are on full display. If you can’t get to her studio, Kelly offers virtual consultations as well. She is eager to share what she’s learned over her many years of experience and is always willing to answer questions or recommend one of her trusted tradesmen to help you get the job done. Her design studio also features a gallery of works by local artists’ if you’re looking for some color to add to your walls.

“We know that Kelley has many years of success in her future, and we wish her all the best on her journey,” said Brooke Miller, agent and partner.

If you’re looking for space for your business to call home, browse our properties or contact one of our trusted agents at 501.375.3200.

Opportunity Zones: The Basics

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.