Category: Uncategorized

What a Sweet Catch! Jonesboro Lands another National Tenant

JONESBORO, AR: Haag Brown Commercial is pleased to announce Gigi’s Cupcakes will be joining Uncle Maddio’s Pizza Joint and Aspen Dental in the new retail center currently in construction right off of Jonesboro’s main retail artery at 2203 Red Wolf Boulevard.

This approximately 8,600 square foot retail center facing Red Wolf Boulevard on the Fairgrounds Re-Development is situated between Panera Bread and Cheddar’s Casual Cafe. Construction is expected to be complete by this fall to allow for tenants to open simultaneously.

Beginning in Nashville, Tennessee in 2008, Gigi’s Cupcakes is the world’s largest gourmet cupcake company having 95 stores in 23 states. With Gigi’s motto of spreading love one cupcake at a time, the company has expanded to share even more love by offering cheesecakes, stuffed cookies, mini cupcakes and even gluten-free desserts.

“Gigi’s is to cupcakes like Starbucks is to coffee; they are the national cupcake leader and one of the most exciting names in retail right now,” said Haag Brown Commercial Principal Josua Brown. “Gigi’s is in line with the quality of companies that are part of the Fairgrounds Re-Development making it a major destination in Northeast Arkansas. We’re very excited to have our company’s leasing agent Garrett McPherson leading the way on this Gigi’s project. We have been working with Brooke Miller from Flake & Kelley Commercial, who represents Gigi’s as their leasing agent, for well over a year, so we are all glad it ended with a deal happening.”

Fayetteville Site Draws Starbucks (NWA Real Deals)

The word that Starbucks is coming to Wedington Drive in west Fayetteville is now official, and the coffee shop is bringing some dental care, too.

Haag-Brown Development LLC of Jonesboro announced it would build a retail center at the corner of Weddington and Timberland Lane, in front of the Walmart Neighborhood Market. Haag-Brown paid $803,464 for 1.19 acres.

Principals Joshua Brown and Greg Haag said the retail center would include a Starbucks and an Arkansas Braces. The Jonesboro office of IberiaBank of Lafayette, Louisiana, provided a construction loan of $1.65 million, and Haag-Brown said work would begin soon at the site at 3485 Weddington.

Clinton Bennett of CBRE Northwest Arkansas represented Haag-Brown, and Hank Kelley of Flake & Kelley Commercial of Little Rock represented Starbucks.

Click here to read the full article written by Marty Cook with Arkansas Business.

Arkansas Business 2014 Power List

Congratulations to Hank Kelley and John Flake for making the Arkansas Business 2014 Power List. The Arkansas Business Power List debuted in 2006 and is updated in the pages of Arkansas Business every three years. It is a useful compendium of the people who are running the largest business, professional and nonprofit entities in the state. Search the Power List by industry category and read profiles to learn about the most powerful people in Arkansas.

Hank Kelley has helped amass and oversees more than 5.2 million SF of commercial space, one of the largest commercial property portfolios in Arkansas.

Perhaps his most recognized works are the tech-related developments for Acxiom and Arkansas Systems in west Little Rock. He became a 2012 member of the Counselors of Real Estate, a professionally prestigious invite.

Kelley started his climb with appraising work followed by an associate partnership at Barnes Quinn Flake & Anderson.

To view Hank Kelley’s full profile on Arkansas Business.

John Flake made his reputation as a deal-maker with a string of apartments, office buildings, medical space and retail projects primarily in Arkansas.

He was a leading player in making the tallest office building in Arkansas happen: the 40-story Simmons Tower in downtown Little Rock, which opened in 1986 as Capitol Tower and later was called TCBY Tower and Metropolitan National Bank Building. He established Flake & Co. in 1979, the foundational firm of today’s Flake & Kelley Commercial.

To view John Flake’s full profile on Arkansas Business.

Even Real Estate is Trending Digital

Each May, commercial real estate developers, bankers, tenants and vendors come together in Las Vegas to meet with the people who shape our business. The meetings are meaningful and are considered by some to be the most intensive business networking they do all year.

Attendance numbers at this conference are a great indicator of how the retail real estate industry is performing. This year’s attendance of 33,000 was up slightly from last year but not as dramatically as some had expected. Attendance has been as high as 50,700 in 2008 and as low as half that amount in 2009.

As I’ve attended the convention for 25 years, I’ve learned to leave a few gaps in my schedule to network with friends in the industry. The programs and meetings at this convention help me understand the drivers behind our industry, but I still get a thrill from the cultivation of new clients and closings.

Part of the news of this year’s convention headlined retailers reducing space and closing stores. Office supply dealers such as Office Depot/Office Max and Staples; clothing retailers like Coldwater Creek, Abercrombie & Fitch, and Aeropostale; and department stores including Sears and J.C. Peeny have all announced plans to close a number of their retail locations. Similar to this national trend toward retail space reduction, we have locally witnessed a consolidation of bank branches resulting in many key locations coming on the market.

Why are so many retailers shedding space and closing stores now when we think the economy has improved since the crash of 2007?

To read the full article on page 12 in the July issue of Arkansas Money & Politics, featuring Hank Kelley.

Brooke Miller named Flake & Kelley Commercial shareholder partner

LITTLE ROCK (May 12, 2014) – Brooke Miller of Little Rock has been named a shareholder partner with Flake & Kelley Commercial.

Miller joined the company in 2007. As a member of Flake & Kelley Commercial’s transactional team, Brooke is responsible for traditional brokerage, leasing and tenant representation. She is a member of the team that represents national, regional and local retailers such as the TJX Companies, Inc. (T.J. Maxx, HomeGoods and Marshalls), Jo-Ann Stores, Inc., LA Fitness, Panera Bread, Menchie’s Frozen Yogurt, Gigi’s Cupcakes and Indigo. Brooke is the leasing agent for two retail centers in Little Rock including Westchase Plaza (65,000 SF retail center) and Breckenridge Village (125,000 SF retail center).

Miller is a graduate of the University of Arkansas at Fayetteville. She is a ChainLinks Retail Advisor, the largest retail only real estate service provider in North America. She is active in the Little Rock community serving on the Board of Directors of the Little Rock Realtors Association and the Xceligent Retail Advisory Board. She is also a member of the International Council of Shopping Centers (ICSC), a sustaining member of the Twentieth Century Club and a previous member of the Hope Lodge Board of Directors. Prior to Flake & Kelley, Brooke owned and operated Companions, a successful women’s clothing boutique in west Little Rock, which she sold in 2006.

About Flake & Kelley Commercial
Founded in 1979, Flake & Kelley Commercial has a vast knowledge and an extensive network of industry connections that facilitate virtually any commercial real estate request. This background, coupled with a staff that features expertise not only in real estate management and development but also in law, accounting and other relevant disciplines, makes Flake & Kelley Commercial an invaluable partner for today’s business.