2011 brought a renaissance of sorts to Evelyn Hills Shopping Center, which for decades was a bustling center of commerce in Fayetteville but fell on leaner times as retailers migrated north toward Joyce Boulevard.
In 2002, the 155,000-SF center on North College Avenue at Memorial Drive was nearly half-vacant. And over the last 10 years, it’s seen plenty of retailers and restaurants come and go.
But Northwest Arkansas’ oldest shopping center added eight new businesses last year, bringing the current total to 25. That leaves only two large spaces – about 10,800 SF and 5,800 SF, respectively – and a few smaller office-type spaces vacant, said Matt Dearnley, CEO of Flake & Kelley Commercial Northwest, which leases and manages the property.
Jordan Jeter, a partner with Flake & Kelley, said they’ve got some leads on the larger spaces and hope to get those filled soon.
To view the full article from Arkansas Business.
ChainLinks Retail Advisors is proud to present the inaugural edition of their U.S. National Retail Investment Report. This report covers investment trends across all regions of the United States as well as top deals transacted. It also details historical sale trends for retail properties of all types. Among the shopping center types that are covered are regional malls, neighborhood and community centers, power centers and strip centers. ChainLinks also covers single tenant retail properties ranging from drug stores and fast food properties to standalone big box properties of all size ranges. This report will be published on a semiannual basis following the close of the first and third quarters of each year. For the inaugural edition, ChainLinks includes major deal transacted since the beginning of the year.
Flake & Kelley Commercial is the ChainLinks affiliate for Arkansas. Through ChainLinks, we are part of a nationwide network that facilitates expansion, disposition, relocation and repositioning efforts on a local, regional and national basis. For over 30 years ChainLinks has been and remains the largest retail-only real estate services organization in the world. Within the retail industry ChainLinks serves the full range of clients, including restaurants and hospitality providers. They maintain 110 offices in 23 countries on three continents. Our 1,000+ agents, brokers and consultants represent 2,000 retailers and 500 landlords on an exclusive basis.
Chicago — Amid economic uncertainty and low consumer confidence levels, retail CFOs are expecting a 3% increase in total 2011 sales, according to a recent survey by BDO USA, LLP. While the number reflects the study’s most optimistic sales forecast since 2007, it is down from the 4.7% sales increase reported by the Commerce Department in 2010.
The vast majority of CFOs surveyed in the fifth-annual BDO Retail Compass Survey of CFOs expect to see a continuation of stagnant economic conditions. Just 11% expect to see an economic turnaround in the next year, up slightly from 2010 (9%). Thirty-eight percent of CFOs say improved consumer confidence will be most important factor for economic recovery, and another 36% cite lower unemployment as the linchpin.
“Retailers may not anticipate a full recovery in the near future, but we’re not seeing gloom and doom in sales expectations,” said Doug Hart, partner in the retail and consumer product practice at BDO USA. “Despite low confidence levels, macroeconomic conditions are not weighing on the consumer’s wallet as much as expected, and CFOs anticipate moderate spending levels to continue through the holiday season.”
To read the full article provided by Chain Store Age.
Flake & Kelley Commercial supports the city’s sales tax increase.
From Tuesday, September 6th to Tuesday September 13th, Little Rock voters will have the opportunity to positively impact the future of our city. Visit www.littlerocksfuture.com for more more information, or www.kelleycommercialpartners.com to read the full brochure.
The changes were few and far between among the largest commercial property management firms in Arkansas.
The top five remained the same with Little Rock’s Colliers International at No. 1 with more than 10.8 million SF under management, up from 10.4 million SF last year.
Flake & Kelley Commercial of Little Rock, at No. 2, dropped from nearly 6.5 million SF last year to 5.8 million. The Ashley Co. of North Little Rock, at No. 3, increased slightly from more than 2.8 million SF to 2.9 million SF.
www.arkansasbusiness.com to see the list of the largest commercial property management firms.
To read the full article from Arkansas Business].