Tag: brokerage

Kelley Commercial Partners rebrands and looks forward

Kelley Commercial Partners

We recently sat down the Daily Record to talk about Kelley Commercial Partners’ recent rebranding efforts and how excited we are about the future of the firm. CEO and executive broker of KCP, Hank Kelley, emphasized that while our name has changed, the company will continue to operate much in the same way it has for the better part of three decades. Most of the firm’s current partners have been in place for several years, and in order to underscore the value of their knowledge, experience, and hard work, Kelley wanted to include the word “partners” in our new name.

And before the ink could dry on our new business cards, an unexpected global pandemic hit and we knew our clients and tenants needed our support more than ever. Property managers and brokers worked closely with tenants to help them understand the process and red tape involved in obtaining state and federal assistance, while our facilities team helped to ensure the health and safety of the occupants in more than 7.4 million square feet of property managed by our firm. Kelley Commercial Partners has also been involved in negotiations that will bring Costco and Amazon to Little Rock.

All in all, it’s been a challenging year for everyone, but Kelley Commercial Partners still sees a bright future for Arkansas and we will continue to serve our community for decades to come.

 

1031 Exchanges help defer certain tax liabilities

Brokerage, property management, development management, consulting

For all of your commercial real estate questions, ask a professional at Kelley Commercial Partners

A 1031 exchange, also known as a tax-deferred exchange, gets its name from the Internal Revenue Code 1031. Essentially, this rule in the tax code allows investors to defer certain tax liabilities they would otherwise incur after making a profit from a real estate investment. This can be an incredibly effective tool for investors who find themselves in a situation in which they would like to sell a real estate holding, but do not want to incur the tax burdens such a transaction would create.

In order to take advantage of the 1031 exchange rule, you must replace the property you are selling (the relinquished property) by purchasing another property (the replacement property) with one of equal or greater value and similar in kind and use. For example, if you are relinquishing a rental property for $100,000, you must replace it with another rental property with one valued at $100,000 or more. (You may also have the option to buy several rental properties, so long as the sum total of their value is $100,000 or more). So, unfortunately, you cannot relinquish a rental property and replace it with a vacation home because those two properties would not be alike in kind and use.

In addition to these restrictions, there is a set time frame in which all of these transactions must occur. Once the relinquished property has closed, investors have 45 days to identify the replacement property and 180 days to close that transaction.

Finding buyers for the properties you wish to relinquish, while at the same time attempting to identify equitable exchange properties can be challenging, especially considering the time restrictions. Proper attention must be paid to the details of how 1031 exchanges work and how using them might affect your long-term plans. This is why it is so important to find an experienced CRE professional you can trust to help you with the due diligence commercial real estate transactions require.

If you have any questions regarding a tax-deferred exchange or any other commercial real estate issue, Kelley Commercial Partners brokers and associates are here to provide the answers and support you need to make successful decisions.

Flake & Kelley Commercial Elects New Shareholder Partners

Little Rock, AR (December 21, 2018) – Flake & Kelley Commercial is pleased to announce the election of four new shareholder partners. Nicholas Kelley, Cynthia Lu, Kevin Pledger, and Eric Varner have earned shareholder status in the company to join existing partners John Flake, Hank Kelley, Daryl Peeples, Cheryl White, Maggie Hogan, Kathy Groce, James Harkins, Bill Pendergist, and Brooke Miller. With the addition of these new shareholders, Flake & Kelley now has partners across every department, including: brokerage, property management, accounting, human resources, and maintenance.

Hank Kelley, CEO of Flake & Kelley Commercial, commented: “Our new shareholders are an important part of our future as they demonstrate a high degree of knowledge and care for our clients.”

John Flake, Chairman, joined Mr. Kelley in congratulating the new partners: “Our new shareholders represent the finest in professional services. We are delighted to recognize their many contributions to Flake & Kelley.”

Nicholas Kelley joined Flake & Kelley in 2017 and serves as Executive Vice President for the company. He is also a member of Flake & Kelley’s Executive Committee. Nicholas is a member of the company’s brokerage/leasing team, representing such clients as Arthur’s Steakhouse/Ocean’s at Arthur’s and Riverside Properties and properties including Two Financial Centre and the Blandford Building. He also provides guidance to Flake & Kelley’s team on a variety of complex legal matters.

Nicholas is a graduate of the University of Georgia (BBA, Real Estate and Finance) and the Walter F. George School of Law, Mercer University (JD). Mr. Kelley received The American Bar Association Section of Labor and Employment Law and the Bureau of National Affairs Award for excellence in the study of labor and employment law. Prior to joining Flake & Kelley, Nicholas practiced as a commercial real estate attorney with the Little Rock firm of Quattlebaum, Grooms & Tull, PLLC and most recently with a large Am Law 100 firm in Atlanta, Georgia (McGuire Woods LLP). Nicholas is recently completed the Arkansas Business Executive Leadership Academy.

Cynthia Lu joined Flake & Kelley in 2013. As a member of the company’s transactional team, Cynthia is responsible for traditional brokerage, leasing, and tenant representation. She represents national, regional, and local retailers such as AT&T, Firebirds Restaurants, Mattress Firm, PetSmart, Signet Jewelers, and Taco Bueno. Cynthia is also a leasing agent for a number of retail centers, including Westchase Plaza, Markham Square, The Village Shopping Center, and Lewis Crossing in Conway.

Cynthia is a summa cum laude graduate of Rice University (BA) and earned a master’s degree from Georgia Tech University in Building Construction & Facility Management. Cynthia was one of the first LEED (Leadership in Energy and Environmental Design) accredited professionals. She is a member of ChainLinks Retail Advisors and the International Council of Shopping Centers (ICSC). Cynthia was recognized as one of Little Rock Soiree Magazine’s “Women to Watch” in 2017. Cynthia has recently been selected to participate in the Leadership Greater Little Rock Class XXXIV.

Kevin Pledger joined Flake & Kelley in 2014 and serves as Director of Facilities. He is responsible for directing all activities for the facilities department including the repair, maintenance and construction of all Flake & Kelley managed properties.

Kevin is a member of the American Society of Healthcare Engineering (ASHE), the Arkansas Association for Healthcare Engineering (AAHE), the National Fire Protection Association (NFPA) and the American Society for Heating, Refrigeration, Air Conditioning Engineers (ASHRAE). Prior to joining Flake & Kelley, Kevin served as the Operations Manager for the Arkansas Building Authority.

Eric Varner joined Flake & Kelley in 2013. As a member of the company’s property management team, Eric oversees the management of some of Central Arkansas’ premier office buildings, medical buildings, and retail centers, including Two Financial Centre, The Village at Pleasant Valley, Westchase Plaza, and Shackleford Crossings.

Eric is a graduate of Ouachita Baptist University (BA – Business Administration). Eric was recently awarded the designation of Certified Property Manager® – CPMs are recognized as experts in real estate management and they are at the top of the profession. Eric is also active in Park Hill Baptist Church, Urban Promise, and FORE Ouachita.

For further information, please contact:

Paula Guajardo, Director of Marketing

Flake & Kelley Commercial

501.244.7540 (direct)

501.960.3693 (mobile)

pguajardo@kelleycp.com