In The News

www.flake-kelley.com to view the Verizon Property Presentation presented by Hank Kelley, Bill Pendergist and London Grandison with Flake & Kelley Commercial.
www.flake-kelley.com to view the Village Shopping Center Property Presentation presented by Hank Kelley, Buckley O’Mell and London Grandison with Flake & Kelley Commercial.

A low construction cost, proximity to the University of Arkansas at Little Rock, an already constructed building and the potential pull of a former U.S. president were among the competing selling points offered Wednesday by representatives of four sites being considered for a planned Little Rock technology park.

The potential influence of former President Bill Clinton to attract companies was part of the pitch by Skip Rutherford, dean of the Clinton School of Public Service, to locate the park on a site near the school and the Clinton Presidential Center.

“There is a big advantage to being in Bill Clinton’s neighborhood,” Rutherford said at a meeting of the Little Rock Technology Park Authority Board.

The board is planning a technology park that backers hope will provide a home to companies willing to partner in developing research resulting from the city’s medical and educational institutions.

In addition to the 10-acre site east of Interstate 30, the other sites under consideration are a 12-story building that was once part of Alltel Corp.’s headquarters, the Village Shopping Center at Asher and University avenues, and a tract of vacant land on John Barrow Road near Interstate 630.

The sites were chosen by the board in October from among 23 proposals, most of them submitted by commercial developers.
Representatives of each of the four sites made 15-minute presentations to the board Wednesday at a meeting at the Jack Stephens Center on the UALR campus.

Afterward, the board voted to spend up to $10,000 on engineering studies of each site. Chairman Mary Good also asked the site representatives to submit information on the potential selling prices for the properties. The board also agreed that it would tour each site.

The site advocated by the Clinton School is owned by World Services for the Blind. It is bounded by East Sixth Street, East Eighth Street, College Street and Collins Street.

The site is currently occupied by a few stores and businesses that lease space on a month-to-month basis, developer Rett Tucker said.

Rutherford said Heifer International, Acxiom Corp. and the Clinton School are among entities in the area that could help attract businesses to a technology park.

The area’s restaurants and hotels as well as the eStem Charter Schools would also be a draw, he said.

“The renaissance area for Little Rock is downtown,” Rutherford said.

Representatives of the Alltel and Barrow Road sites also cited the restaurants and other businesses surrounding their favored locations.

Proponents of the Village Shopping Center site noted that it would be within walking distance of UALR. If it located there, said Hank Kelley, chief executive of Flake & Kelley Commercial, the technology park could eventually acquire a total of about 30 acres for development, which would include the shopping center.

The site is also near 53 acres of wetlands at the former Coleman Dairy, which Kelley said could also be an asset.

Kelley’s firm also pitched the former Alltel building, which includes 212,000 square feet of space that the authority could lease or buy.

The building includes six high-speed elevators, and equipment could also be included in a purchase, he said.

“The finishes in these buildings are second to none,” he said.
Kelley said, however, that any space for chemical laboratories would have to be added to the building.

Good noted that it would likely to be expensive to add such space to a high-rise building. Representatives of Kelley’s firm also said the building’s occupant would have to add a new heating and cooling system at a cost of about $1.3 million.

Kelley said the 14-acre Village Shopping Center property is worth about $4 million, and space in the former Alltel building, which is owned by Verizon Wireless, is worth about $65 per square foot. Space in the building could also be leased for about $19.75 per square foot annually, he said.

Representatives of the other sites did not have price estimates Wednesday.

Pam Brown Courtney, owner of the site on John Barrow Road, said the price for her property would be “something you can afford, I promise you that.”

Proponents of the John Barrow site noted that the authority would not have to demolish any buildings before starting construction on the 37.5-acre tract of vacant land.

They also touted the site’s location near the McMath Library, a planned community center, and medical institutions such as Baptist Health Medical Center and the Arkansas Heart Hospital.
City Director Doris Wright, whose ward includes the site, touted another benefit.

“You’ll have me as your champion, and I can get a lot of things done,” she said.

Little Rock, Arkansas (October 31, 2012)-Downtown Little Rock has been selected by an online organization called “Livability” as No. 5 in a new Top 10 Downtowns 2012 list just released.

Downtown Little Rock was noted for its nine distinct neighborhoods, each offering a mix of residential and commercial property, with the most popular being the River Market District, a draw for concerts, sporting events, and landmarks such as the William J. Clinton Presidential Center and Park, along the Arkansas River. It was also noted for the system of streetcars increasing accessibility between Little Rock and North Little Rock and with stops at many downtown attractions.

Citing criteria set forth by Christopher Leinberger, director of the Center for Real Estate and Analysis at George Washington University, the Livability.com team noted, “We set out to identify downtowns especially poised to offer the best experiences to residents and visitors, show signs of economic growth, and have community leaders with clear plans for continued improvement to these districts. We needed a perspective to help us decide what sets apart the best downtowns from the merely good downtowns.”

Downtown Little Rock Partnership (DLRP) was specifically referenced in the announcement: “A nonprofit group called Downtown Little Rock Partnership leads the charge for revitalization by teaming with city leaders on strategy and special projects, such as renovating buildings and beautifying street corners. The group also brings in special events and seasonal attractions.”

Sharon Priest, executive director of Downtown Little Rock Partnership, said, “We are very pleased to have downtown Little Rock chosen as No. 5 for Livability. These honors for downtown and Little Rock are a result of the hard work of many people. We do especially appreciate our members at the Downtown Little Rock Partnership who volunteer their time to work on events such as the Main Street Food Truck Festival and committees focused on a vibrant downtown Little Rock.”

Downtown Little Rock Partnership is a nonprofit representing approximately 200 member businesses, organizations and individuals in pursuit of a remarkable urban experience for those who work, live, play and invest in downtown Little Rock. Millie Ward is the current president of the Board of Directors.

According to Priest, “DLRP members strive to provide leadership in planning, legislation, transportation, economic development and numerous public and private initiatives that strengthen the overall downtown as well as enhance its image.” DLRP also manages Metrocentre Business Improvement District (BID No. 1) to provide services for a cleaner and safer downtown.

For more information about Downtown Little Rock Partnership call 501.375.0121 or www.downtownlr.com to go online today. For the complete Livability listing about Downtown Little Rock, livability.com

If developer Scott Reed perfects his plan, the arts district in downtown Little Rock will not only be expanding, but citizens will be able to live and businesses thrive in the heart of the district.

Reed’s company – Reed Realty Advisors of Portland, Ore. – recently closed on four buildings through Flake & Kelley Commercial of Little Rock.

The Boyle Building at 501 Main Street is 80,832 square feet. Built in 1909, the building is 80,832 square feet and sits at the intersection of Capitol Avenue and Main Street. It was priced at $1.2 million. The Arkansas Building (and its annex building) at 522 and 524 Main Street is 62,816 square feet. Built in 1910, the building at the intersection of Main and 6th streets was listed at $900,000. The MM Cohn Building at 510 Main Street is 54,600 square feet. Built in 1941, the building was listed at $515,000.

The buildings are contiguous.

Hank Kelley of Flake & Kelley said Reed is a master at planning how the development will serve many capacities, including multi-family rental, office and retail.

“What Scott does is perfect a plan,” Kelley said. “He wants to build on the arts district that is anchored by the Repertory Theater. It’s an amenities package. That’s what makes this so unique.

“I can tell you from my own experience with the Lafayette building and the Rock Street lofts that there’s a big demand for rental. From what I understand, there will be 100-plus family units involved in this.”

Reed is involved in some not-for-profit groups that could be part of the commercial plans.
Kelley said the planned development is a good sign that the commercial market is coming back in Little Rock.

“It’s absolutely a good sign,” Kelley said. “Where people live is the first step in any (commercial) development. It provides conveniences to them.”

www.dailyrecord.us to read the full article.

ROGERS — Cabela’s Inc. of Sidney, Neb., which bills itself as the world’s foremost outfitter of hunting, fishing and outdoor gear, last week offered a glimpse inside its new store in Rogers.
There was much to see, to the extent that the local chamber of commerce believes the store will become a tourist attraction in its own right.

An indoor archery range where shoppers can check out a bow before they buy.

A gun library that includes antique guns, some as old as 100 years, ranging in price from $200 to “thousands,” according to Wes Remmer, a Cabela’s spokesman who was guiding reporters through the new store, which is to open Aug. 30.

The “mountain,” one of the most popular places in the store, is where replicas of animals are displayed in a steep, rocky setting.
Hunting is the biggest chunk of the retailer’s business, Remmer said, followed by fishing, but that varies from market to market.
Dick and Mary Cabela founded the business in 1961 as a catalog operation in Chappel, Neb., selling hand tied flies for $1 per dozen. The Rogers outlet will open as the company’s 39th store, and the company now has stores from Maine to Arizona and Washington state.

“It’s a great opportunity,” Remmer said of the 100,000-square-foot Rogers store. “There are thousands of hunters and fishermen … in Northwest Arkansas.”

Cabela’s is a major competitor to Bass Pro Shops, which has 58 U.S. stores. The Springfield, Mo., company, started by Johnny Morris about 40 years ago, has announced plans to open its first Arkansas store by late next year. About 250 people will be hired at a 120,000-square-foot store adjacent to Gateway Town Center in southwest Little Rock, near Interstates 430 and 30.
Also, Bass Pro will open a store in the Memphis Pyramid that stands near the Interstate 40 bridge over the Mississippi River. Once the home of the Memphis Grizzlies basketball team, the vast building will house a 220,000-square-foot store, about the size of one of Wal-Mart’s larger supercenters. But that won’t come close to the one in the home base of Springfield, where the Bass Pro complex covers about 450,000 square feet.

Larry Whitely, a spokesman for Bass Pro, said the Bass Pro in the Pyramid will open next year, but the date has not yet been determined.

Bass Pro, which already has a store on Macon Road in Memphis, has a strong presence in the Southeast, the one region of the country where Cabela’s is largely absent.

Cabela’s has stores in Buda, Fort Worth and Allen, Texas, and in Gonzales, La., between Baton Rouge and New Orleans. The company opened a store in Wichita, Kan., on March 14. It has one Missouri store in Hazelwood, in the St. Louis region, but no stores in Mississippi or Tennessee or points to the south and east of there.

At Cabela’s new store in Rogers, people not so much into hunting and fishing can visit the home/cabin section. It also will sell furniture, plus earrings, watches, necklaces and the company’s own line of fudge – 35 flavors.

“People who come into the store can satisfy their sweet tooth,” Remmer said.

Employment at the store, including full-time, part-time and seasonal workers, is projected to be about 225, said Chris Comer, store manager.

Comer said the community’s reaction to the new store has been positive.

“The level of excitement here is just off the charts,” he said. “I’ve just been overwhelmed with the enthusiasm.”
In addition to fishing and hunting gear, the Rogers store will sell boats, including Lowe, Alumacraft, Nitro and Stratos, and will operate a full-line boat-service center.

All-terrain vehicles also will be featured.

The opening of Cabela’s has drawn enthusiasm from Northwest Arkansas promoters.

“It’s kind of like winning the World Series twice in a row,” said Raymond Burns, president and chief executive officer of the Rogers-Lowell Area Chamber of Commerce. “It will pull customers from far away and will drive other retail sales. It’s a brand that’s well-known.”

Burns said the chamber has been working with Cabela’s “from almost day one.” The retail attraction will be a good complement to the lure of the Crystal Bridges Museum of American Art in Bentonville, he said.

“Certainly it will influence how we market this area for people who come here for weekends,” Burns said.

Tom Ginn, vice president for economic development at the Bentonville-Bella Vista Chamber of Commerce, said he has visited the Cabela’s in Kansas City, Kan., and was impressed. He expects the store to draw shoppers from a 100-mile radius.
“These kinds of things help this region function. It’s like a tourism dollar. It’s a real coup to have that store in the region,” he said.
In July, Cabela’s announced plans to build a 43,000-square-foot Cabela’s Outpost store in Saginaw, Mich., to open next spring. It will be the company’s second small-format store.
It also has plans for a full size store to open next spring in Anchorage, Alaska.

Jon Hodaway, who runs Nighthawk Custom Training Academy in Centerton, said Cabela’s presence could be bad news for small gun stores in the region, such as Ozark Sportsman Supply in Tontitown, Ozark Armory in Springdale and GI Guns & Ammo in Rogers.

“They’re going to suck the water out of the pond around here,” he said.

Business, Pages 61 on 08/19/2012

Print Headline: Cabela’s store in Rogers raring to open