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Site Selection: Key Elements in Finding the Right Commercial Space

Brands include Church's Chicken, Costco, Bloomin' Brands, Jersey Mikes, Dillard's, Five Below, HomeGoods, TJ Maxx, and Marshalls.

By Brooke Miller

You know the old saying: “Location. Location. Location.” In the commercial real estate game, well-designed business plans, solid funding, and meticulous execution are all necessary pieces of the puzzle, but without the right location, success can be elusive. Finding the right commercial space for your business plays a pivotal role in determining its fate. The perfect location can be the catalyst for exponential growth, while a poor choice can lead to stagnant sales and missed opportunities. When it comes to selecting the right site, making an informed decision is paramount.

The site selection process involves a thorough evaluation of numerous factors to identify the most optimal location for a particular commercial use, be it a retail store, restaurant, office building, or industrial facility. Engaging the services of a trusted commercial real estate firm that is familiar with the local market can prove to be a prudent choice, as it can streamline the process and will likely yield potential cost and time savings. To kickstart the site selection journey, the first crucial step involves defining the project’s unique requirements and clear-cut objectives. This encompasses determining the ideal property size, type, location, budget, and project timeline. Armed with this comprehensive information, a commercial real estate agent can get to work to find options that make the most sense for a client.

Factors to Consider in the Site Selection Process:
  • Suitability: A site’s prime suitability almost always revolves around its accessibility to customers, employees, and suppliers. A strategic location near major roads, highways, and public transportation can be crucial. Additionally, the availability of utilities to the site as well as environmental considerations can often play a vital role in evaluating suitability. And of course, understanding the site’s zoning is essential, as it determines the permissible uses in the area. If zoning adjustments are needed to align with the intended use, an experienced commercial real estate agent can help navigate municipal requirements for a smooth process.
  • Demographics: A comprehensive evaluation of the surrounding area’s demographic profile is also imperative to ensure it supports the intended use of the property and aligns with the needs of the community and workforce in the area.
  • Market Conditions: Thorough analysis of real estate market conditions helps gauge the demand for properties or businesses similar to the one under consideration. This information is vital for predicting the potential return on investment. An in-depth market analysis includes studying current trends, the availability of land or commercial spaces in the desired location, traffic counts, and property values.
  • Competition: The presence of similar businesses or developments in the area also should be evaluated to determine the expected level of competition and the potential for market saturation.

Once potential sites have been selected, a tour of each site usually follows to help investors determine the best possible option.

How Kelley Commercial Partners Can Help

Over the years, we’ve helped numerous major brands and businesses navigate the complexities of site selection, so if you’re looking to embark on a successful commercial venture, Kelley Commercial Partners’ team of knowledgeable agents possesses the expertise to guide you through every step of the process. We understand that “location” is the cornerstone of prosperity, and our thorough evaluation process ensures we find the most optimal site tailored to your unique business needs. With a keen eye on suitability, demographics, market conditions, and competition, we meticulously identify prime locations that can serve as catalysts for exponential growth. You can trust KCP to provide unwavering support in achieving all of your business goals.

 

 

Kelley Commercial Partners has an award-winning team of real estate professionals with the experience and knowledge to ensure you maximize your potential and reach your financial goals. Let us help you create a clear plan and provide the guidance you need to confidently move forward. Contact us today or click here to explore available properties.

 

 

 

Batesville – a small community with big opportunities

Kelley Commercial Partners visits Batesville
Community Center & Aquatics Park

Community Center & Aquatics Park

Recently, Jim Dailey and Hank Kelley traveled about 90 miles northeast of Little Rock to visit the city of Batesville. They consulted with Mayor Rick Elembaugh and Chamber President Crystal Johnson to explore economic development opportunities in this small community located along the shores of the White River. Their hosts led them on a tour of Batesville’s active downtown, state-of-the-art conference center, the Terry Sims Diamond Sports Complex, and the Community Center & Aquatics Park completed in 2017.

As Arkansas’ oldest city, Batesville (which has gone by other names including Napoleon and Poke Bayou) has a long and interesting history. Batesville is home to Lyon College and the University of Arkansas Community College at Batesville. It is also the hometown of NASCAR driver Mark Martin. The Mark Martin NASCAR Museum, built in his honor, is a popular attraction as is the speedway where he began his racing career.

Melba Theatre, Batesville, AR

Historic Melba Theatre on Main Street, Batesville, AR

Several buildings in Batesville are on the National Register of Historic Places, including the historic Melba Theatre which was built in 1875 and became one of Arkansas’ first cinemascope theaters in 1940. This historic property has undergone several transformations over the years, but today it operates as a beautiful modern movie theatre and is considered an integral part of Batesville’s Main Street business district.

Batesville has a thriving retail community where you can expect to find big-business names like TJ Maxx and Home Depot alongside small, family-run businesses like Bellabird Boutique and Thompson’s Fine Jewelry. Batesville can is a charming place to visit, a prosperous place to do business, and a beautiful place to call home.

If you would like to explore economic development opportunities in your city, contact our Director of Government Relations, Jim Dailey, at jdailey@kelleycp.com.

 

Jordan Jeter Recognized as One of Northwest Arkansas Business Journal’s Forty Under 40

 

Jordan Jeter enjoys the art of the deal, putting all the puzzle pieces of a transaction together over a long period and then seeing it come to fruition in a lease, a new building or a sale. In the process, he enjoys getting to know interesting people from all over the country.

Jeter pairs clients with property that fits their needs so that they will do business with him again, and 99% of his clients are repeat buyers. His business has grown along with the needs of his clients and makes him a “long-distance runner instead of a sprinter.” Transactions include Crossroads Plaza in Bentonville, Tuscany Square in Rogers and Mathias Plaza in Springdale.

 

The Pine Bluff native graduated from the University of Arkansas in 2004 with a degree in real estate finance. After a brief stint in San Francisco trying to break into music, he worked as a banker for Metropolitan Bank in Little Rock, getting his real estate license. About 12 years ago he was introduced to John Flake, who hired him as an intern. He ended up in an entry-level position in Northwest Arkansas at a time when the market was in a downturn, but Jeter saw that as an advantage, cold calling to get business.

Jeter counts John Flake, Matt Dearnley and Hank Kelley as important mentors, saying Flake and Dearnley allowed him to job shadow the two men for two years and gave him some listings so he would have inventory.

While still in his mid-20s, Jeter was promoted to partner, and he said that is his biggest accomplishment. One of his main responsibilities as a partner is recruiting new talent for the business.

While he enjoys his job, he has “had his head down for a long time now,” so he would like to slow down a bit and adjust to get more work/life balance. Jeter enjoys hanging out with his daughter and listening to records on his back porch.

Flake & Kelley Commercial Welcomes Grub’s Bar & Grille to Little Rock

Flake & Kelley Commercial is pleased to announce that Grub’s Bar and Grille is coming to Little Rock.  The restaurant chain, which has three locations in northwest Arkansas, plans to open a new location in the Chili’s location at The Village at Pleasant Valley, which is located at 10700 North Rodney Parham Road. The lease for the 6,120 RSF space was finalized in early August.

According to the Grub’s ownership team, “Grub’s Bar and Grille has spent years looking for the perfect location in Central Arkansas and we are thrilled to finally be able to open a family friendly restaurant in Little Rock!”

Nicholas Kelley, Brooke Miller, and Eric Varner of Flake & Kelley Commercial represented the building’s owners.  Matt Strom and Thomas Schmidt of Flake & Kelley Commercial represented Grub’s.   Hank Kelley, CEO of Flake & Kelley Commercial and part of The Village at Pleasant Valley ownership, stated: “We are thrilled to help Grub’s locate in the Village at Pleasant Valley. The Grub’s location is front and center to a reemerging retail and restaurant neighborhood named West Village.  The food and drink options will be fun and popular and create an exciting addition to our property.”

Read the article in the Arkansas Democrat Gazette

 

Flake & Kelley Commercial Hires Nicholas Kelley

Flake & Kelley Commercial is pleased to announce that Nicholas Kelley has joined the firm. Nicholas (“Nick”) will be an integral part of the Flake & Kelley team, using his legal expertise and real estate experience to benefit our company and our clients.

Nicholas will be active in brokerage and development and will also provide property management support. Hank Kelley, SIOR, CRE, CEO of Flake & Kelley Commercial is excited to have his son, Nick Kelley, joining the Flake & Kelley team. “We are thrilled to have Nick on board. His skill set and experience will complement the success of our brokerage and property management teams.”

Nicholas’ career began in the legal industry as a commercial real estate associate for Quattlebaum, Grooms, & Tull located in Little Rock, Arkansas. He subsequently served as a real estate associate with McGuireWoods in Atlanta, Georgia. Throughout his professional career, Nicholas has represented real estate developers, Fortune 500 retailers, lenders, borrowers, and other national and international clients on a variety of commercial real estate transactions and developments.

Nicholas holds a Bachelor of Business Administration degree from the University of Georgia in Athens, Georgia and a Juris Doctorate degree from the Walter F. George School of Law, Mercer University in Macon, Georgia.

He and his wife, Kadee, and their two sons, Jack and Luke, are excited to make Little Rock their home.