Tag: Arkansas commercial real estate

Abby Turner Promoted to Assistant Property Manager

Abby Turner

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 12th floor to 50 executive suites. One month later, with Abby’s help, we began leasing the Capitol Center 12th 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.

 

The Downtown Connection

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.

Kelley Commercial Partners Adds New Shareholder Partner

Kaley Tucker, Property Manager, Partner

Kelley Commercial Partners is pleased to announce the appointment of our newest shareholder partner, Kaley Tucker. She will be joining existing partners Hank Kelley, Daryl Peeples, Maggie Hogan, Nick Kelley, Brooke Miller, Jessi Miller, Kevin Pledger, Gary Smith, Eric Varner, and Cheryl White.

“I knew Kaley was coming to the firm with a solid education and strong work ethic, but she has exceeded every expectation. Her professionalism makes her a joy to work with for team members, clients, and customers. I am excited to see what the future holds for Kaley at Kelley Commercial Partners and honored to be her partner,” said Daryl Peeples, president.

Tucker began her career at the firm nearly 7 years ago, just weeks after graduating from Ouachita Baptist University. She started as an assistant property manager and was promoted to a manager role in 2019. Tucker manages some of Little Rock’s largest Class A properties, including Simmons Tower, and several high-rise Property Owner’s Associations. She coordinates overall management, leasing activities, construction management, and financial oversight for more than 1.3 million square feet of property across central Arkansas.

“I had never considered a career in real estate and was certain I was headed down the CPA path after graduation, but I have grown to love what I do and the people I get to work with every day,” said Tucker.

In October 2021, Tucker completed her RPA® (Real Property Administrator) designation through BOMI. Only property managers with a minimum of three years of experience are eligible for the program. Tucker completed the coursework in less than two years and says she gained a more in-depth knowledge of every aspect of managing a commercial property successfully.

Tucker attributes her success in the company to the close-knit team. “I truly could not do what I do each day without my associates, Alex [Graham] and Abby [Turner], and the mentorship I have in Eric [Varner], Maggie [Hogan], Hank [Kelley] and Daryl [Peeples] as well as the support from my husband, Curt. Any property manager will tell you that not every day is sunshine and rainbows. There are some really hard days, but those are the days that I learn the most,” said Tucker.

Tucker is a member of BOMA GLR and is involved in her church, Immanuel Baptist Church. She and her husband have a feisty little red-headed toddler named Tessa.

Hot Springs Bypass Extension Project Ahead of Schedule

Kelley Commercial Partners has two development opportunities that should be positively impacted by the bypass.

The Hot Springs Bypass Extension project resulted after a study by the Arkansas Highway Commission determined that improving or expanding Highway 7 through downtown Hot Springs was not an option. Currently, scenic Highway 7 travels directly through Hot Springs National Park, which makes up 5,550 acres and has 8 historic bathhouses, hiking trails, campgrounds, a visitors’ center, and much more. This alternative bypass would reduce traffic congestion through the downtown area and cut travel time between Hot Springs Village and the city of Hot Springs by more than half.

Funded by Connecting Arkansas Program and a Garland County Bond Issue

This $75 million project is funded in part by the Connecting Arkansas Program and a Garland County bond issue which was approved by voters in 2016. The 5.82 miles path connects the intersection of Highways 5 and 7 on the north end, to exit 6 on Highway 70 East on the south end. Overpasses will be located at Covenant Trail Rd., Mill Creek Rd., Denise Ln., and Quarry Mountain Rd. The north end of the extension will tie into a two-lane roundabout large enough to accommodate a tractor trailer. The roundabout project, scheduled to be completed in late 2023, will also widen 4.17 miles of Park Ave.

Roundabout at Hwys 5 & 7

Roundabout at Hwys 5 & 7

Bypass Officially Designated a Scenic Highway

The bypass meanders through the beautiful Ouachita Mountains and has been officially designated a scenic highway in 2021 by Act 675 from the Arkansas Legislature. It will facilitate access to retail and services in the city of Hot Springs for residents of Hot Springs Village, Jessieville, Fountain Lake, and surrounding areas, all while leaving the tourists and pedestrians in the historic downtown with a better and safer experience with less traffic congestion. Currently, Highway 128 provides a quick route to retail centers and other services in Saline County. Officials believe that this bypass project might help keep that spending, and the  tax dollars and jobs that come with it, in Garland County. Originally scheduled for completion by August 2022, the project is currently ahead of schedule and could open for the summer season of 2022.

Development Opportunities in Hot Springs

Kelley Commercial Partners has a unique redevelopment opportunity available just northeast of the roundabout. A ±2.24 acres lot with two buildings is offered for sale. The property has 411 feet of frontage on Highway 5/Park Ave. and is ideally suited for a convenience store or similar development. An additional ±9.16 acres of level land with 340 feet frontage are for sale on Highway 7 in Hot Springs Village across from Walmart Supercentre. For more information about these listings, visit our properties page.

Maggie Hogan: Nominee for Arkansas Business CFO of the Year 2021

Maggie Hogan, CFO

At a luncheon to be held on November 3 at the DoubleTree Hotel, Arkansas Business will honor chief financial officers from small private companies, large private companies, nonprofit organizations, public sector organizations, education, banking, and hospitals.

For the past 13 years, Arkansas Business has recognized the men and women navigating these challenging and often behind-the-scenes positions. Kelley Commercial Partners’ Chief Financial Officer, Maggie Hogan, is among the finalists for CFO of the Year in the small private company category. Other finalists in this category include Scott Dendler of Assembled Products Corp. of Rogers, Stuart McLendon of Dyne Hospitality Group of Little Rock, and Scott Rosenberg of Travel Nurse Across America of North Little Rock. Lifetime achievement awards will be presented to Vickie Judy of America’s Car-Mart, Inc. of Rogers and Johnny McCaleb of Simmons First of Pine Bluff.

We salute all the CFOs being honored as well as those yet to be recognized for the essential work and support they provide to their companies. We are especially proud of Maggie Hogan for her leadership and dedication to our firm.