Just because masks have become a daily necessity, doesn’t mean you have to sacrifice your sense of style or personality. Kim’s Alterations is selling these unique, delicately hand-embroidered, cotton face masks at her shop located at 2002 N. Mississippi just off Cantrell Rd. Masks sell for $15 each and come in a variety of colors, so you can mix it up next time you mask up. And with the holidays right around the corner, you can show your support for this small local business by picking up a few extra masks to give as gifts to family and friends.
“They’re comfortable, pretty, and make you feel happy,” said Kim Lien Trinh, owner.
Owner Kim Trinh shows off one of her favorite masks
Kim’s Alterations opened just over one year ago but Kim has been doing alterations since 1994. Business at her impeccably clean one-woman-shop has grown steadily and she enjoys meeting new people every day, Kim said. Services include alterations of men’s and women’s clothing, formal gowns, and beading. She also works on leather, a service that is hard to find. Still, her favorite things to work on are the formal dresses and wedding gowns. She’s open Tuesday thru Friday from 9 a.m. to 3 p.m. and Saturdays from 10 a.m. to 2 p.m.
If you’re thinking of hanging your shingle, browse our listings and contact one of our agents to help you find the best space for your business.
Bill Puddephatt, CCIM joins KCP
Kelley Commercial Partners is pleased to announce the addition of the newest member of the brokerage and leasing team, Bill Puddephatt, CCIM. After a distinguished 45-year banking career serving national and state financial institutions in Central Arkansas, Bill Puddephatt, CCIM, has joined Kelley Commercial Partners and is excited to use his experience structuring and financing real estate projects in the brokerage field. His emphasis on strong relationships, attention to detail and big-picture thinking result in solutions-oriented outcomes for his clients.
With a strong sense of commitment to the community and having served in statewide and national leadership positions for banking and commercial real estate professional organizations, Bill brings a unique skillset and business perspective to the KCP team.
During his commercial banking career, Bill originated more than $1 Billion in loans with zero loan losses. He financed office buildings, office parks, multi-family projects, assisted living and retirement properties, hotels, retail centers, condominium projects, subdivision developments, and more.
Hank Kelley, CEO, Executive Broker, and Partner at Kelley Commercial Partners
Whitney Burgess, Vice President of Client Services and Strategy at Team SI
Today the University of Arkansas Little Rock School of Business announced it will honor Kelley Commercial Partners’ CEO, Hank Kelley, as Distinguished Alumnus of the Year for his the mark he has made in business and for his service to the community and UA Little Rock. Whitney Burgess, vice president of client services and strategy at Team SI, will receive the Dean’s Award for Excellence. Awards will be presented at the Distinguished Alumni Luncheon to be held Oct. 16.
Kelley received his MBA from the UA Little Rock School of Business in 1984, the same year he joined the firm which is now Kelley Commercial Partners. He has stayed connected at UA Little Rock over the years by serving on the Business Advisory Council and as adjunct instructor at the School of Business. Last year, Kelley and his wife, Stephanie, made a generous donation to A.P. Vibhakar Endowed Scholarship.
“I’m honored to be recognized by the university and appreciate the efforts of the faculty and administration to engage and stay connected to the business community,” said Kelley.
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.
Costco coming to west Little Rock
The Arkansas Democrat-Gazette reported today that the wholesale retail giant Costco’s plans for development of 31.81 acres at Chenal Parkway and Kirk Road in Little Rock were approved by city planning commissioners. This will be the first Costco store in the state of Arkansas. Plans include a more than 150,000 square foot warehouse with a tire shop, optical shop, and depending on licensing, a liquor store. The development also will have a free-standing gas station and outparcels. We at Kelley Commercial Partners are excited about this news and look forward to welcoming them to the market.