Two North Little Rock Transactions
Commercial Office Parks in North Little Rock and a building in North Little Rock I-440 Industrial Park have changed hands.
The five contiguous buildings offering 40,000 square feet of general office space just off McCain Boulevard in North Little Rock were sold for $1.875 million to Two Cops and A Lot LLC, represented by Jeff Hathaway, John Hathaway and Wes Martin of Hathaway Group. The three Hathaway Group partners and other firm clients are among the investors comprising this LLC.
The garden office space, single-level, front-door entry space is 60 percent occupied. For leasing inquires, contact Reed Billings of Hathaway Group.
Daryl Peeples and Gary Smith of Flake & Kelley Commercial represented the seller.
“Our firm has handled several lease transactions over the years at this property, so we have confidence in the future demand for well-located, clean and inexpensive office space offering great parking,” said John Hathaway. “Our plan is to take care of some necessary deferred maintenance and aggressively lease it back up to stabilization.”
Five Acres LLC, represented by Jamie McLarty of Hathaway Group, purchased the 13,386-square-foot building on 0.92 acres located at 7810 Industry Dr. for $750,000. Hathaway Executive Vice President Stuart Mackey, CCIM SIOR, represented the seller, House Properties. DHL will remain as tenant in the facility that was built in 1999 by House Properties. It is the third of five House Properties buildings in the park that Hathaway Group has sold; the other two remain on the market with Hathaway Group.
“The buyer is enthusiastic about an investment purchase of a quality building with a quality tenant,” said McLarty.
“It is good to see long-term interest in this well-established industrial park,” said Mackey. “We have been associated with this client and the park for over 20 years, and we are happy to continue this relationship.”