The Shoppes at Rodney Parham in West Little Rock welcomes High Cotton Decor, a charming, family-run store that specializes in unique home decor and handcrafted gifts. Owners, Dani and Tim Martin opened this WLR location to operate as a “sister-store” to The Cotton Shed Vintage Market, a 32,000 SF store in Bryant that hosts more than 200 local vendors from all over the state. High Cotton has high standards, which is why Ms. Martin says she sources most of the merchandise in her store from local artists and vendors, seeking out southern makers as well as items that support the fight to end human trafficking.
Feeling creative? Grab an apron and take a seat in the DIY Studio to create your own art. The store is currently stocked with festive holiday decor and unique gifts to brighten anyone’s day. They are even offering free, contactless delivery in Little Rock and Bryant areas. The store is open Wednesday through Saturday from 10 a.m. to 4 p.m. at 10020 N. Rodney Parham Rd.
Tim and Dani are working hard to get their online store up and running, but until then, you can find their products in the store or on ArkansasAlley.com. Be sure to check out their Facebook page!
For leasing information at The Shoppes at Rodney Parham, contact Brooke Miller or Cheryl White at 501.375.3200.
Holiday decor and unique gifts
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.