Hank Kelley Discusses Commercial Real Estate (Exec Q&A)

This Week: Hank Kelley
Partner and CEO of Flake & Kelley Commercial of Little Rock

Bio: Hank Kelley
Background: Bachelor’s degree in business administration from the University of Arkansas at Fayetteville, MBA in finance from the University of Arkansas at Little Rock; continuing education and certifications through The Appraisal Institute, the Society of Industrial & Office Realtors and the Institute of Real Estate Management.

Experience: Kelley has represented clients that include Acxiom Corp., AT&T, GMAC, Shackleford Crossings, TJ Maxx and Verizon. He is a member of The Counselors of Real Estate, a principal of ChainLinks Retail Advisors and a graduate of Leadership Greater Little Rock.

Q: Statistical and anecdotal information about retail absorption in Arkansas is encouraging. What kinds of retailers seem to be in the market for new or additional space? What does your pipeline of activity look like?

A: Active retail sectors in today’s market include grocery, automotive, discount fashion, dollar stores, restaurants, convenience stores, health and fitness, pharmacies, sporting goods and a variety of medical professionals seeking a retail storefront. Specialty fashion stores have been particularly active at the Promenade at Chenal in west Little Rock, bringing a critical mass of attractive regional and national tenants. Most of our clients first try to use existing space and move to new construction only if they can’t find a feasible location to renovate. Rent is typically more favorable for a second-generation space, barring prohibitive rehab costs.

To the full article from Arkansas Business.