In The News

Tenant Estoppel Certificates

Posted on 11/08/22

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.

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

Posted on 06/28/22

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 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!

Abby Turner Promoted to Assistant Property Manager

Posted on 04/27/22

Last May, Abby Turner interviewed with Kelley Commercial Partners for the position of tenant relations manager, and it didn’t take long for us to figure out that Abby would be a great addition to our team and a perfect fit for the job. Immediately following her graduation from Ouachita Baptist University, the Arkadelphia-native packed up and moved to the big city to start her new job in Arkansas’s tallest building. She would assist tenants of the three floors in Simmons Tower dedicated to executive suites: Level Two Executive Suites, 15th Floor Executive Suites, and the new Capital Center 12th Floor Executive Suites.

When Abby started, we had nearly completed the conversion of 19,100 square feet of office space on the 12^th floor to 50 executive suites. One month later, with Abby’s help, we began leasing the Capitol Center 12^th Floor Executive Suites, which is now 80 percent occupied.

As the tenant relations manager, Abby welcomed new tenants to executive suites on floors 2, 12, and 15 and made sure they had everything they needed to get right to work, but she didn’t stop there. Abby also helped coordinate the annual Christmas Tree Lighting celebration and established the very popular “Food Truck Tuesday,” which takes place every other Tuesday. She even brought in a trainer and a yoga instructor to teach classes in the gym on the second floor. And on top of all of that, she still finds time to manage Simmons Tower’s social media accounts. (Follow them on Facebook and Instagram.)

In less than a year, Abby was promoted to assistant property manager, and she has just earned her real estate license. She looks forward to planning more events for the Tower and reestablishing a sense of community for the building. She says meeting new tenants is her favorite part of the job, plus she says she really likes her KCP teammates. Really.

Abby, we are so pleased to have you on our team and congratulate you on your achievements so far. We really like having you on our team. Really.

Ageless Health & Fitness Relocates to Village@PV

Posted on 04/15/22

Ageless Health & Fitness, the newest business to move into the Village@PV (formerly, Village at Pleasant Valley) is a gym, but it’s not just any ordinary gym. Far from it. Delena Morrison, co-owner with her husband, Edward Drangle, calls it an “upscale boutique fitness center,” which is without a doubt a far better description.

So, what sets Ageless Fitness apart from your average gym? Well, first and foremost it’s owned and operated by a physical therapist with over 35 years of experience with functional fitness. Each new member receives a full assessment by a physical therapist who then uses that information to create a personalized fitness program that is based on each individual’s goals and needs, as well as their limitations. “We are the only gym to combine physical therapy with fitness. No one else does that. That’s what sets us apart” Morrison says.

Ageless Fitness focuses on functional fitness – a combination of strength training, posture, flexibility, and coordination. Trainers guide members through techniques and movements that are designed to address all these areas and work several parts of the body all at once. Special attention is paid to developing core strength, one of the most important aspects of keeping the body fit and functional at any age.

n addition to their unique fitness program, Ageless Fitness offers massage therapy, specialized classes including Pilates, group training, personal training, cardio, strength and flexibility programs, as well as nutritional counseling. They also sell a wide variety of wellness products including stretch bands, heel lifts, and CBD products.

Morrison describes their new space as more open and brighter than their previous space. “The signaled intersection at the entrance to the shopping center has also made a lot of difference,” she said. “It provides much easier access.”

Ageless Health & Fitness Center is located at 10700 N. Rodney Parham Rd., Suite C in Little Rock. They are open Monday-Thursday from 6 a.m. to 8 p.m., Friday from 6 a.m. to 6 p.m., and Saturday from 8 a.m. to 2 p.m. For more information, call 501-225-9996 or email info@agelesshealthandfitness.com.

For leasing information at the Village@PV, contact Brooke Miller or Drew Laning at 501.375.3200.

The Downtown Connection

Posted on 03/21/22

Aerial Downtown Little rock Arkansas USA

As published in Arkansas Business, March 14, 2021
by Hank Kelley

At Kelley Commercial Partners, we focus a lot on downtown properties because it’s been home to our company for so long. When we tour the market with out-of-town clients, we proudly tell the stories of our landmarks and the amenities that define us.

James and Deborah Fallows, the authors of “Our Towns: A 100,000-Mile Journey Into the Heart of America,” helped shape my view of Little Rock and central Arkansas. The couple traveled the country for five years focusing on thriving flyover communities and outlining attributes common to each of these progressive cities. After they published their book, they visited Little Rock to discuss their findings. They believe communities that have positioned themselves to thrive possess these traits:

People work together on practical local possibilities, rather than allowing disagreements about national politics to keep them apart.
Citizens can name local patriots.
The phrase “public-private partnership” refers to something real.
People know their civic story.
They have downtowns.
They are near a research university.
They have and care about a community college.
They have distinctive, innovative K-12 schools.
They embrace diversity.
They have big plans. Municipal governments are where real improvements can be done.
They have brewpubs and/or distilleries where the product is made and served in a setting that encourages people getting together.

This is a good list of priorities worthy of focus, commitment and action to help Little Rock become its best. But of those priorities, the Fallowses believe a downtown is the best single marker of the condition of the town. Downtown Little Rock has changed for the better since we first moved into the Simmons Tower 38 years ago, thanks to the combined efforts of city leaders and the private sector championing progress. Today, downtown is home to the arts, history, retail, housing and entertainment. From historic Robinson Center to the $142 million Arkansas Museum of Fine Arts, from boutiques to farmers markets, from historic homes to high-rise condos, there’s something for everyone. The past decade has added marinas to both sides of the Arkansas River, along with hundreds of apartments and homes for those who want to live in an urban environment.

Speaking of North Little Rock, Argenta plays a huge role in our downtown. Dickey-Stephens Park, Simmons Bank Arena and the restaurants that line Main Street provide countless entertainment opportunities. With two cities across one river, we punch well above our weight in concerts, performing arts and local dining options. While the Arkansas River may seem to be a dividing line, the cycling, walking and running along the Arkansas River Trail connect us.

With 33% of the local total commercial real estate inventory (12.7 million SF), downtown is the largest submarket in the metropolitan area and offers the greatest value. In fact, businesses, offices and residents have never had a more exciting and diverse menu of amenities downtown — benefits that can’t be replicated in suburban areas. Downtown boasts the lowest average cost per square foot in the area and can satisfy the needs of users large or small. And the Interstate 30 rehabilitation will provide the best regional access to downtown for occupants and visitors.

Whether it’s a national grocery store, restaurant chain, fashion retailer, office user or manufacturer, all our prospective commercial real estate clients want to know what’s happening downtown, which is why we must think of downtown when making key decisions about infrastructure, business expansions, education initiatives and other items on the Fallowses’ list.

These prospects know that American downtowns serve as benchmarks as to where a community is headed. We need visitors to clearly see new developments happening on both sides of the Arkansas River, making this place a great place to live, work and play.

So I challenge you to reread the Fallowses’ observations. Where does Little Rock stack up? Where are we going? What do you want to see next? If you want to listen to the music I hear, call me. Let’s meet and walk to lunch! In downtown of course.